Ctrip Group released its 2022Q3 financial report: net revenue of 6.9 billion yuan increased by 29% year-on-year-Qianlong.com.cn

On December 15, 2022, Beijing time, Ctrip Group announced its unaudited financial results for the third quarter ending September 30, 2022. The financial report shows that in the third quarter of 2022, Ctrip Group’s net operating income was 6.9 billion yuan, a year-on-year increase of 29%, and its net profit was 245 million yuan; its adjusted EBITDA was 1.4 billion yuan, a year-on-year increase of 164%. Performance exceeded market expectations.

In terms of each business line, the accommodation booking revenue was 2.9 billion yuan, a year-on-year increase of 32%; the transportation ticketing revenue was 2.6 billion yuan, a year-on-year increase of 44%; the tourism and vacation business revenue was 387 million yuan, which was relatively stable year-on-year; the business travel management business revenue was 370 million yuan Yuan, a year-on-year increase of 9%.

In June this year, the ninth edition of the epidemic prevention and control plan had a certain boosting effect on the summer tourism market. In July, Ctrip Group’s domestic hotel reservations increased by 20% compared with 2019; although the August epidemic repeatedly dragged down the recovery process of the tourism market, Ctrip Group’s domestic hotel reservations still maintained positive growth in August. In the context of local hotels bottoming out and long-term hotel bookings growing against the trend, in the third quarter of this year, Ctrip Group’s overall domestic hotel bookings returned to the level of 2019, and domestic hotel booking revenue increased by 25% year-on-year. In the context of the year-on-year decline in the number of domestic tourists in the third quarter, Ctrip’s domestic hotel performance outperformed the market.

In terms of international business, with the accelerated recovery of the global tourism market and the intensive release of favorable policies for the entry of business travelers, Ctrip Group’s international business continued to maintain rapid growth in the third quarter of this year. Among them, the overall air ticket booking volume on the international platform increased by more than 100% year-on-year, and the air ticket booking volume in the Asia-Pacific region increased by more than 400% compared with 2021. Overseas hotel reservations on the international platform increased by 45% compared with the same period in 2019, surpassing the 2019 level for three consecutive quarters. In addition, in the first 10 months of this year, Ctrip’s inbound and outbound business travel air ticket orders increased by 245% year-on-year, the number of international air ticket segments increased rapidly year-on-year, and international business travel hotel bookings increased by 531% year-on-year. In addition, in the third quarter of this year, the transaction volume of Ctrip Group’s overseas entertainment business increased by 150% year-on-year, reaching a record high.

In terms of driving social employment and fulfilling social responsibilities, Ctrip has made further progress in the third quarter. So far, Ctrip has opened 15 Ctrip holiday farms in China. In addition, Ctrip continues to promote the “LESS·Sustainable Travel Plan”, and recently launched the “Green X” product function, covering multi-dimensional scenarios such as accommodation, air tickets, and ground transportation. As of December this year, it has covered more than 100,000 green trips product.