Meituan, a Tencent-invested local and travel service platform, reported that its total revenues for 2021 were RMB179.1 billion (USD 28.2 billion), up by 56% year on year. Operating loss for the year was RMB23.1 billion, compared with an operating profit of RMB 4.3 billion in 2020.
Revenues from the in-store, hotel & travel businesses increased by 53.1% year over year to RMB32.5 billion in 2021. Operating profit from the in-store, hotel & travel businesses increased to RMB14.1 billion in 2021 from RMB8.2 billion in 2020, while operating margin increased to 43.3% from 38.5%.
For the fourth quarter of 2021, revenues from our in-store, hotel & travel businesses increased by 22.2% year over year to RMB8.7 billion. Operating profit for the segment increased to RMB3.9 billion from RMB2.8 billion for the fourth quarter of 2020, while operating margin increased to 44.7% from 39.5%, due to change in revenue mix.
In 2021, the company’s domestic hotel room nights grew 34.5% to 476.9 million, thanks to the industry recovery and its strategic focus on the domestic travel market, local accommodations, and short-haul travel scenarios. For high-star hotels, room nights contribution exceeded 16.5% in 2021, thanks to continued improvement in high-star supply and consumer service quality.
