Ctrip Group's Q1 2024 Financial Results Report

TapTechNews May 21st news, Ctrip Group disclosed today the unaudited financial results for the first quarter of 2024.

Data shows that Ctrip's net revenue in the first quarter was 11.9 billion yuan, a year-on-year increase of 29%; the net profit attributable to the parent company was about 4.3 billion yuan, a year-on-year increase of 26%; the adjusted EBITDA (TapTechNews note: earnings before interest, taxes, depreciation and amortization) was about 4 billion yuan.

In addition, the growth rate of Ctrip's international business is significant. The total revenue of Ctrip's international OTA platform Trip.com increased by about 80% year-on-year. In the first quarter, the operating income of Ctrip's accommodation reservation was 4.5 billion yuan, a year-on-year increase of 29%; the operating income of transportation ticketing was 5 billion yuan, a year-on-year increase of 20%; the operating income of tourism and vacation business was 883 million yuan, a year-on-year increase of 129%; the operating income of business travel management business was 511 million yuan, a year-on-year increase of 15%.

Ctrip stated that the domestic tourism market continued to maintain strong growth in the first quarter, driving the year-on-year growth of its domestic hotel and air ticket reservations by more than 20%. At the same time, the year-on-year growth of Ctrip's outbound hotel and air ticket reservations in the first quarter was both more than 100%. In addition, in the first quarter of this year, Ctrip's inbound tour reservations increased by more than 4 times year-on-year, and the total revenue of the international platform Trip.com increased by about 80%; the operating income of Ctrip's chartered tour business increased by 128% year-on-year.