Trip.com Group (TCOM, Financial) has announced its unaudited financial results for the fourth quarter and the full year of 2024. The company reported a net revenue of 12.7 billion yuan for the fourth quarter and 53.3 billion yuan for the entire year. Net profit for the fourth quarter was 2.2 billion yuan, with an annual net profit of 17.2 billion yuan.
The company's four main business segments—accommodation booking, transportation ticketing, travel packages, and corporate travel management—reported fourth-quarter revenues of 5.2 billion, 4.8 billion, 870 million, and 702 million yuan, respectively. For the full year, these segments generated revenues of 21.6 billion, 20.3 billion, 4.3 billion, and 2.5 billion yuan, respectively.
Cross-border travel showed significant growth, with outbound hotel and flight bookings surpassing 2019 levels by over 20%. International OTA platform bookings increased by more than 70% year-over-year. Inbound travel bookings more than doubled compared to the previous year, with bookings from visa-free countries increasing by over 150%.
In 2024, Trip.com focused on integrating AI with content to inspire travel plans, launching features like "Route Planning" to enhance decision-making. The company also supported inbound tourism, creating new jobs and adapting services for older adults. They introduced a comprehensive inbound tourism service solution, offering over 11,000 domestic attraction tickets online and partnering with 64 key inbound attractions for international ticketing services.
Currently, users aged 50 and above make up 10% of Trip.com's customer base, with purchasing power 30% higher than the average user. Last October, Trip.com partnered with local accommodations in regions like Yunnan and Hainan to launch extended stay products, significantly boosting business for partners.
