Trip.com Group said that domestic and international business continued to show robust recovery in the first quarter of 2023.
The Company delivered strong results in the first quarter of 2023. Net revenue increased by 124% year over year and exceeded that for the same period in 2019, the pre-COVID level.
Net income for the first quarter was RMB3.4 billion (US$491 million), which improved from a net loss of RMB1.0 billion for the same period in 2022 and net income of RMB2.1billion for the previous quarter.
Domestic hotel bookings grew by more than 100% year over year. Same city staycation hotel bookings grew by 150% compared to those for the same period in 2019.
Outbound hotel and air reservations recovered to over 40% of those for the same period in 2019.
Air-ticket bookings on the Company’s global OTA platforms grew by over 200% year over year, and grew by over 100% compared to those for the same period in 2019.
“During the first quarter of 2023, there has been an upsurge in both domestic and outbound travel activities in China,” said James Liang, Executive Chairman. “We are encouraged to see the world becoming more open and connected at the start of 2023. We remain positive for the outlook of the global travel industry and the opportunities that lie ahead.”