Q3 2025 Trip.com Group Ltd Earnings Call Transcript
Key Points
- Trip.com Group Ltd (TCOM) reported a 16% year-over-year increase in net revenue for Q3 2025, driven by strong travel demand.
- Outbound hotel and air bookings grew by close to 20% from last year, reaching about 140% of 2019 volumes.
- International bookings on the platform grew by around 60% year over year, with the Asia Pacific region as the largest contributor.
- Inbound travel bookings increased by over 100%, reflecting robust international demand.
- AI-powered tools like Trip Planners saw a 180% year-over-year surge in unique visits, enhancing user experience and engagement.
- Hotel and air ticket prices experienced a year-on-year decline, narrowing to low single digits.
- Domestic hotel capacity expansion may keep pressure on room prices going forward.
- Adjusted sales and marketing expenses increased by 26% from the previous quarter, driven by broader marketing investments.
- Geopolitical tensions, such as those between Japan and China, could potentially impact travel behavior and revenue contributions.
- The company faces intensifying competition in the Asia Pacific market from global OTAs like Agoda.
Good day, and thank you for standing by. Welcome to Trip.com Group third-quarter 2025 earnings call. (Operator Instructions) Please be advised that today's conference is being recorded.
I'd now like to hand the conference over to your first speaker today, Michelle Qi, Senior IR Director. Please go ahead.
Thank you. Thank you, all. Good morning, and welcome to Trip.com Group's third quarter of 2025 earnings conference call. Joining me today on the call are Mr. James Liang, 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 provisions of the U.S. Private Securities Litigation Reform Act of 1995. 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
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