Ctrip Group released 2022Q2 financial report: net revenue 4 billion yuan surpassing market expectations

On September 22, 2022, Beijing time, Ctrip Group (Nasdaq: TCOM and the Hong Kong Stock Exchange: 9961) announced the unaudited financial results as of the second quarter of June 30, 2022.

According to the financial report, in the second quarter of 2022, Ctrip Group's net operating income was 4 billion yuan, surpassing the expectations of the previous market; EBITDA was adjusted to 355 million yuan. The domestic local hotel market has accelerated in the second half of the second quarter. The sharp growth of emerging businesses such as car rental and private groups is the highlight of Ctrip's main performance in the domestic market. It is the main reason why Ctrip's performance is exceeded this quarter.

Domestic local hotel reservation reservation overall hotel reservation season to realize the reversal

The financial report shows that in the second quarter of 2022, Ctrip Group's operating income was 4 billion yuan. From the perspective of the main business, in the second quarter of this year, Ctrip's accommodation revenue revenue was 1.4 billion yuan, transportation ticket revenue was 1.8 billion yuan, tourism and vacation business revenue was 122 million yuan, and the income of business travel management business was 210 million yuan.

Affected by the impact of the epidemic, a number of domestic businesses in Ctrip showed a sluggish performance in April and May. The characteristics of rapid rebound in June showed strong toughness. Accommodation reservations were typical representatives. According to Ctrip data, from mid -May to the end of June, South China and West China Hotels, which are less affected by the epidemic, took the lead in recovery, exceeding the same period of 2019; Level.

Among them, local hotels are the main force of stimulating Ctrip accommodation reservations. According to the financial report, in the second quarter of this year, the local hotel reservation of Ctrip Group increased by more than 30%compared with the same period in 2019. With the implementation of accurate epidemic prevention policies, the recovery momentum continued until the third quarter. In addition, since the end of 2021, the number of hotels covered by Ctrip Hotel has increased by 20%, of which 65%are Gaoxing Hotel, and the product power has been further strengthened.

Since the beginning of this year, Ctrip has accelerated a number of emerging businesses in response to changes in domestic market demand. In the first half of this year, Ctrip's domestic car rental business transaction volume increased by more than 90 % compared with the same period in 2019; small group products with high comfort were favored by the market. In the second quarter, Ctrip's private group product transaction volume increased by nearly two times the month.

The European and American market income pre -border level trip.com brand multi -business multiplication

In the second quarter of this year, Ctrip Group's overseas business continued the trend in the first quarter and continued to maintain high growth. Generally speaking, Ctrip's revenue in the European and American markets has exceeded the same period of 2019, and the Asia -Pacific market business is also growing rapidly; the proportion of overseas business in Ctrip's overall revenue has continued to increase, and the contribution has jumped significantly.

Trip.com is an important sub -brand leading Ctrip's overseas business growth. In the first half of 2022, Trip.com ranked among the top 10 online tourism apps in the world's top 10 online travel apps, and the download volume reached a record high.

From the perspective of the specific business of the TRIP.com brand, in the second quarter, the number of ticket reservations increased by about 680%year -on -year, and the overall ticket reservation in July had resumed to about 90%before the epidemic. The growth rate of recovery in the first quarter of this year was 50%higher; ticket sales increased by more than 100%compared with the same period in 2019, and product coverage increased by more than 500%compared with the same period of the previous year. In the first half of this year, the transaction volume of car rental business increased by more than 7 times year -on -year.

Driven by the star brand TRIP.com, Ctrip overseas business has grown strongly. Overseas platform tickets and hotel reservations have increased by more than 100%year -on -year. Destination products reservations increased by 24%month -on -month, and maintained a year -on -year increase in three digits in the first half of 2022. In addition, in the first half of this year, Ctrip's overseas business travel hotel transaction volume increased by 540%year -on -year.

From a geographical point of view, in the second quarter, Europe was the fastest market for Ctrip's international business -hotel reservation increased by nearly 400%year -on -year, and air ticket reservations were close to 2019. In addition, in Hong Kong, South Korea, Singapore, Malaysia, the United States, and the United Kingdom, the overall hotel reservation of Ctrip showed a 3 -digit increase compared with 2019.

Transaction transformation steadily grows internally and externally, taking into account the pressure of hedging

The "Tourism Marketing Hub" strategy has proposed more than a year since the expansion of Ctrip's content ecology. In the second quarter, the average daily user creation content of the Ctrip platform increased by 16%year -on -year, the number of KOL increased by 17%from the previous quarter, and the average user viewing volume increased by about 50%month -on -month.

Ctrip marketing high -transaction conversion features continue this quarter. In the second quarter of this year, Ctrip Live Platform watched the conversion rate of the transaction 62%month -on -month. In the first half of the year, the official live broadcast transaction volume of Ctrip increased by nearly 50%from the second half of 2021; through a series of marketing activities, in the second quarter, the Ctrip Star number The direct transaction volume in the flagship store increased by 31%month -on -month, and the content conversion transaction volume of the Ctrip Womanic List Hotel was increased by 34%month -on -month.

In terms of membership marketing, as of now, more than 30 million users have joined the joint membership plan jointly created by Ctrip and hotels, which effectively drives the growth of hotel customer acquisition and transaction volume.A total of 240,000 hotels have joined the Ctrip "Excellent Session" to provide users with additional rights including free breakfast and free room type upgrade.As an important starting point for Ctrip to help rural rejuvenation, it also made a new breakthrough in the first half of this year.As of June this year, Ctrip has deployed 9 -seater fake farmers in the country, receiving customers covering 30 regions across the country, and user repurchase rates exceeded 30%.In addition, in the first half of this year, with the theme of solar terms, farming, and non -heritage of fake farmers, a total of nearly 20 cultural and creative projects were developed to provide multi -dimensional assistance for the implementation of the cultural industry to empower rural revitalization.

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