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OTAChina / Hong Kong

Tongcheng Travel 2024 Interim Results: International Revenue Doubles

Tongcheng Travel Holdings (0780.HK) reported unaudited 1H 2024 results: revenue up 48.8% YoY to RMB 8,111.6 million, adjusted EBITDA up 12.7% to RMB 1,733.7 million, adjusted net profit up 10.9% to RMB 1,215.2 million, and GMV up 9.7% to RMB 128.2 billion. In 2Q, transportation ticketing revenue rose 16.6% to RMB 1,742.7 million and accommodation revenue rose 12.8% to a record RMB 1,190.9 million; international air ticketing volume grew 160% YoY and international room nights nearly 140%. The company launched international booking platform HopeGoo in 1H 2024, supporting 16 currencies.

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Impact and considerations

International air ticketing up 160% and international room nights up nearly 140% signal fast-recovering Chinese outbound demand, creating incremental channel opportunities for airlines, hotels and distributors; HopeGoo plus about 1,900 hotel stores show Tongcheng extending from domestic OTA into international and indu…

Key points

  • 1H revenue rose 48.8% YoY to RMB 8,111.6 million; adjusted net profit up 10.9% to RMB 1,215.2 million.
  • 2Q transportation ticketing revenue up 16.6% to RMB 1,742.7 million; accommodation revenue up 12.8% to a record RMB 1,190.9 million.
  • International air ticketing volume grew 160% YoY; international room nights rose nearly 140%.
  • Launched international booking platform HopeGoo in 1H 2024, covering six areas including flights, hotels and train tickets, with 16-currency payment support.
  • About 1,900 hotel stores in operation as of end-June, with more than 1,000 in the pipeline.
  • Annual paying users up 4.8% to 228.3 million; travelers served over 12 months up 29.9% to 1.8564 billion.

Sources and time

Primary source
Tongcheng Travel
Other sources
0
First source publication
20 Aug 2024, 08:00
Page published
12 Sept 2026, 00:23
Last updated
20 Aug 2024, 08:00
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