China's largest travel site, Ctrip Group, reports that it expects sales of 11.9 billion in the first quarter of 2024

Trip.com Group, China's largest travel site, announced its unaudited financial results for the first quarter of 2024 (January-March) on the 21st.
The company expects sales in the first quarter of 2024 to increase 29% year-on-year to 11.9 billion former (approximately JPY 260 billion). Adjusted net income is expected to increase 26% year-on-year to 4.3 billion former (approximately JPY 950 billion).
By business type, hotel reservation-related sales increased 29% year-on-year to 4.5 billion former (approximately 100 billion yen), and public transportation ticket-related sales increased 20% year-on-year to 5 billion former (approximately 110 billion yen).
sales of travel services increased 129% year-on-year to 883 million formers (approximately 19.5 billion yen), and sales of business trip management increased 15% year-on-year to 511 million formers (approximately 11.3 billion yen).
"Usage from corporate customers was muted in the first quarter due to the Lunar New Year holidays," the company explained.
"With stable supply and relaxed visa policies, we are seeing an increase in domestic and international travel," said Liang Jianzhang, chairman of the board of directors of Ctrip Group.
"We have seen a significant increase in demand for travel," he said. "We have continued to improve our travel products and rapidly grown our global business."
In the first quarter of 2024, domestic hotel and air ticket bookings in China are expected to grow by 20% year-on-year.
% increase, while overseas hotel and air ticket reservations increased by more than 100% year-on-year. In addition, the global travel reservation site "Trip.com" operated by "Ctrip Group"
)" sales increased 80% year-on-year.