Q2 2024 Trip.com Group Ltd Earnings Call Transcript
Key Points
- Trip.com Group Ltd (TCOM) reported a 14% increase in net revenue year-over-year, reaching RMB12.8 billion.
- Accommodation reservation revenue grew by 20% year-over-year, driven by strong outbound and domestic hotel bookings.
- The company saw a 42% increase in packaged tour revenue year-over-year, with outbound package tours showing significant growth.
- Inbound travel to China surged by 150% year-over-year, with visitors from visa-free countries increasing by 190%.
- Trip.com Group Ltd (TCOM) continues to leverage AI technology to enhance user experience and operational efficiency, including AI-powered travel assistance and personalized recommendations.
- Transportation ticketing revenue only saw a 1% increase year-over-year and a 3% decrease quarter-over-quarter.
- Domestic hotel ADR and average airfares decreased year-over-year, putting pressure on short-term prices.
- Adjusted general and administrative expenses increased by 6% year-over-year due to higher personnel-related costs.
- The company anticipates continued investment in overseas operations, which may impact overall group margins in the short term.
- Despite robust growth, the company faces increased competition in the Asia-Pacific market, which could affect future performance.
(technical difficulty) (Operator Instructions) Please be advised that today's conference is being recorded. I would now like to hand the conference over to your speaker today, Michelle Qi, Senior IR Director. Please go ahead.
Thank you, Maggie. Good morning and welcome to Trip.com Group second-quarter of 2024 earnings conference call.
Joining me today on the call are Mr. Jim Lyons, Executive Chairman of the Board, Ms. Jane Sun, Chief Executive Officer, and Ms. Cindy Wang, Chief Financial Officer.
During this call, we will discuss our future outlook and performance, which are forward-looking statements made under the Safe Harbor provision of the U.S. Private Securities Litigation Reform Act of 1995.
These forward-looking statements involve inherent risks and uncertainties.
As such, our results may be materially different from the views expressed today.
A number of potential risks and uncertainties are outlined in crypto.
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