Trip.com Group Q2 Earnings Call Highlights

Trip.com Group NASDAQ: TCOM reported second-quarter 2026 net revenue of RMB15.7 billion, up 6% from a year earlier, as international travel operations expanded despite a more difficult operating environment marked by elevated fuel prices, airfares and geopolitical uncertainty.

Executive Chairman James Liang said higher travel costs weighed more heavily on long-haul demand, while travelers shifted toward shorter-haul destinations. Still, he said travel demand remained resilient and the company continues to view globalization and “great quality” as the two pillars of its long-term G2 strategy.

Chief Executive Officer Jane Sun said inbound travel to China remained one of the company’s fastest-growing businesses, with revenue rising by a high-double-digit percentage year over year. Asia-Pacific remained the main source region for inbound visitors, including travelers from South Korea and Southeast Asia. The company said visitors are increasingly traveling beyond China’s traditional eastern coastal destinations and seeking cultural, culinary and other immersive experiences. Trip.com said it aims to serve 200 million inbound travelers over the next five years through investments in the inbound travel ecosystem, local partnerships, multilingual services and destination visibility.

Revenue from the company’s international online travel agency platform increased more than 50% year over year during the quarter, supported by higher transaction values and a favorable mix, Sun said. The company cited growing demand for premium and customized travel products: First- and business-class flight bookings on Trip.com rose more than 70% in the first half of 2026, while customized tour bookings increased 600%.

Sun said the international business is becoming more geographically diverse. Asia-Pacific remains its largest contributor to growth, while Europe and the Americas grew faster from smaller bases. Mobile bookings exceeded 70% of total bookings, reaching a new high, according to the company.

While flight demand faced pressure from reduced capacity and higher prices, average booking values helped offset part of that impact, Sun said. Accommodation continued to post strong growth, while attractions and packaged products also maintained strong momentum. She added that the Trip.com brand delivered meaningful margin improvement in the quarter through marketing efficiencies, scale and improved flight economics. The company plans to continue expanding local supply and brand awareness across Asia-Pacific and other global markets, while maintaining what Sun described as disciplined, return-on-investment-focused marketing.