Ctrip (09961) releases its Q3 financial report for 2024, creating performance increment for millions of partners.

On November 19, Ctrip Group (09961) released the unaudited financial report for the third quarter of 2024. Driven by the strong recovery of the tourism industry, Ctrip achieved a net operating income of 15.9 billion RMB. Among them, hotel booking business revenue was 6.8 billion RMB, transportation ticket business revenue was 5.7 billion RMB, tourism vacation business revenue was 1.6 billion RMB, and business travel business revenue was 656 million RMB. At the same time, Ctrip continued to strengthen product research and development and other technological investments, with R&D expenses of 3.6 billion RMB, accounting for 23% of the net revenue for the quarter. Cross-border tourism has been a highlight of the tourism market this year, with Ctrip's outbound flights and hotels in the third quarter of 2024 fully restored to 120% of the same period in 2019. In the third quarter of 2024, Ctrip took multiple measures to empower millions of partners to increase performance: providing intelligent upgrades to the first domestically produced 3A game location, Xixi Heavenly Scenic Area in Xi County, helping Xi County become the county with the fastest growth in tourism during the National Day holiday; collaborating with Crescent Moon Spring in the Mingsha Mountain scenic area for a starry sky concert, innovating with a combination of concerts and sand sliding to drive a 46% increase in National Day visitor flow compared to 2023; in a national first, launching the "Worry-free Flat-rate Rental" car rental product, leading to a 90% decrease in car damage dispute rates and a 22% increase in orders at related stores; upgrading the Ctrip hotel "Hotel Service Market" platform, providing operational material procurement services to 90,000 hotel merchants, saving hotels an average of 5% in procurement costs; continuously promoting a strategy of rural revitalization led by high-end homestays, with two Ctrip Resort Farms completed in the third quarter of this year at Zhangjiajie Tourism Group in Hunan and Zhongning in Ningxia, with local employees accounting for nearly 95%. As of the third quarter, 34 Ctrip Resort Farms have been completed, with overall farm nights up 71% compared to the same period in 2023. Ctrip actively creates job opportunities for the industry, helping the industry attract new outstanding talents and promote talent inflow. In the third quarter of this year, Ctrip launched the "Tour Guide Platform" in China for the first time, covering over 2,000 destinations worldwide and providing systematic training certification, fair traffic allocation, and order income guarantees for over 100,000 tour guides. As of the third quarter of this year, Ctrip directly employed over 100,000 people and indirectly created jobs for over 10 million people through the platform providing services such as hotels, flights, tickets, and car rentals. Ctrip Group Co-founder and Chairman of the Board Liang Jianzhang said, "Ctrip adheres to providing excellent experiences for users and creating performance growth for partners. We firmly believe that technological progress and market synergy will drive the continued growth of the tourism industry and shape the future of global tourism." "We are pleased to see the resilience of the tourism market and bring new business growth to our tourism industry partners. We are committed to telling the story of China to the world through providing excellent customer service, promoting the business development of partners, and promoting tourism." Ctrip Group CEO Sun Jie added.