Travel TrendsThe group's overall revenues were bumped up by a "strong recovery" in March 2021.

Domestic market signals "full recovery" for Trip.com

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Long-distance travel in mainland China has fully recovered, with short-distance travel showing continued growth.
Long-distance travel in mainland China has fully recovered, with short-distance travel showing continued growth. Photo Credit: Getty Images/dk1234

Revenues at China-based online travel giant Trip.com Group fell by 13% year-over-year to US$628 million.

The company, operator of the Ctrip, Skyscanner and Trip.com brands, said the group's overall revenues were mainly due to a "strong recovery" in March 2021.

It is still being impacted by a decrease in international travel from Chinese citizens and users of the brands elsewhere.

Travel restrictions have eased in mainland China, the group indicated, but the reintroduction of some measures in other markets in January and February this year have impacted its overall performance.

Accommodation revenue decreased by 37% year-over-year to US$241 million (down 30% on the final quarter of 2020), despite the traditionally strong Chinese New Year travel activity.

Air tickets and other transportation revenues came in at US$230 million for 1Q 2021, also down 37% on the corresponding period in 2020.

Other segments also experienced a decline year-over-year, with packages down 68% on the first quarter of 2020 to US$26 million.

Notably, the biggest uptick for the business came in the corporate travel line of business as revenues hit US$39 million after a 101% increase year-over-year.

CEO Jane Sun said: "Despite the challenges in January and February of 2021 due to outbreaks of virus during the winter season, China domestic travel rebounded quickly in March and showed stronger momentum in April and May.

"Quality leisure travel showed rapid growth, with reservations for mid to high-end hotels spearheading growth. Meanwhile, long-distance travel in mainland China has fully recovered, and short-distance travel has shown a continuing growth trajectory."

Source: PhocusWire

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