OTAs gear up for fresh competition
Booking.com and Expedia are likely to start seeing more competition in future from upcoming China-based group Trip.com
The US listed business includes Trip.com, its international platform, flights business Skyscanner, plus in China, its Ctrip platform and Qunar travel services business. While still a predominantly China-oriented company, there are clear aspirations to add more country markets and shift to becoming a truly global player.
Key takeaways
- At Trip.com, the return of Chinese travellers helped revive the business, sending the core OTA business volume up almost 130% in 2023;
- Domestic hotel bookings were up more than 60% compared with pre-pandemic levels, with outbound bookings up over 80%;
- Currently, Trip operates in 39 country markets, and it is focused strongly on expansion outside its home Chinese market, to become a leading player in the Asian market and in the global market in three to five years.
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