Consumer Staples Author：Muriel Meng Editor：Di Chen Nov 21, 2023 03:48 PM (GMT+8)

After the epidemic, the recovery of the tourism industry under globalization trends has been effective, and the industry continues to strengthen technological innovation and sustainable development in the future.

Ctrip

On Nov. 21, 2023, Ctrip Group (TCOM: NASDAQ and 9961S: HK) announced its unaudited financial results for the third quarter ended September 30, 2023. The financial results indicated that in the third quarter of 2023, Ctrip Group's net operating income amounted to CNY 13.7 billion, with a remarkable year-on-year increase of 99%. Meanwhile, Ctrip Group also contributed to the high-quality recovery of the travel industry in terms of globalization strategy, AI empowerment, and ESG sustainability.

Mr. Liang Jianzhang, Ctrip Group Co-Founder and Chairman of the Board of Directors, illustrated that "Both domestic and international travel demonstrated strong growth momentum in the third quarter thanks to robust summer travel demand, reflecting travelers' desire to explore the world. Globalization is an important pillar of our business and AI innovation will be at the core of our long-term strategy. Looking ahead, we will continue to expand our global markets and develop AI innovations to lay the foundation for the company's continued growth."

The performance at home and abroad has grown strongly, and the recovery of inbound and outbound business has significantly increased the globalization strategy. The arrival of the summer tourist season has promoted the continuous growth of tourism bookings. Ctrip Group achieved an accommodation booking income of CNY 5.6 billion in the third quarter, increasing dramatically by 92% year-on-year, while traffic ticketing revenue was CNY 5.4 billion, up 105% year-on-year.

As of press time, Ctrip Group closed at USD 36.67 apiece, with a market capitalization of USD 25.065 billion.