Tongcheng Travel Announces 2024 Third Quarter Results
Tongcheng Travel announced its unaudited 2024 Q3 results on November 19, 2024. Quarterly revenue increased 51.3% YoY to RMB4,991.5 million, and adjusted net profit increased 46.6% YoY to RMB910.0 million, both record highs. Core OTA business revenue grew 21.6% to RMB4,012.8 million, with operating profit margin rising to 31.1%. International air ticketing volume grew over 110%, and international room nights surged over 130%. Annual paying users reached 232.4 million, and accumulated travelers served reached 1,882.5 million.
Impact and considerations
Tongcheng Travel's strong quarterly results, especially the rapid growth in international business, reflect the recovery of China's travel market and rising outbound travel demand, offering reference value for investors and industry players watching China's online travel and business travel market.
Key points
- Tongcheng Travel's 2024 Q3 revenue increased 51.3% YoY to RMB4,991.5 million, and adjusted net profit increased 46.6% YoY to RMB910.0 million, both record highs.
- Core OTA business revenue grew 21.6% to RMB4,012.8 million, with operating profit margin rising to 31.1%.
- International air ticketing volume grew over 110%, and international room nights surged over 130%.
- Annual paying users reached 232.4 million, and accumulated travelers served reached 1,882.5 million.
- Hotel management business has over 2,100 hotels in operation, with nearly 1,200 more in the pipeline; over 900 franchised travel agencies have been opened.
Sources and time
- Primary source
- Tongcheng Travel
- Other sources
- 0
- First source publication
- 20 Nov 2024, 08:00
- Page published
- 12 Sept 2026, 00:20
- Last updated
- 20 Nov 2024, 08:00
- Original links
- Tongcheng News Center：20-11-2024 Tongcheng Travel Announces 2024 Third Quarter Results (opens in a new tab)Primary source · en · Published 20 Nov 2024, 08:00