Trip.com Group Ltd
F:CLVB
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Trip.com Group Ltd
Trip.com Group is an online travel company that helps people book trips through its apps and websites. It sells airline tickets, hotel rooms, train tickets, vacation packages, and other travel services, and it also serves business travelers through corporate booking tools. Its main customers are leisure travelers, small and large companies, and travel suppliers such as airlines, hotels, and rail operators that want access to booking demand. The company makes money mainly by taking commissions or service fees on bookings, plus advertising and other travel-related services. In practice, it acts as a marketplace and sales channel between travelers and travel providers, rather than owning planes, hotels, or trains itself. That gives it a lighter business model than traditional travel operators, because it earns from connecting supply and demand. What makes Trip.com important in the travel industry is its role as a digital booking hub, especially for customers who want to compare options and plan trips in one place. It combines direct booking, price comparison, and customer support across multiple travel categories. This makes it a useful middleman in travel, with revenue tied to travel activity and to the services it adds around the booking process.
Trip.com Group is an online travel company that helps people book trips through its apps and websites. It sells airline tickets, hotel rooms, train tickets, vacation packages, and other travel services, and it also serves business travelers through corporate booking tools. Its main customers are leisure travelers, small and large companies, and travel suppliers such as airlines, hotels, and rail operators that want access to booking demand.
The company makes money mainly by taking commissions or service fees on bookings, plus advertising and other travel-related services. In practice, it acts as a marketplace and sales channel between travelers and travel providers, rather than owning planes, hotels, or trains itself. That gives it a lighter business model than traditional travel operators, because it earns from connecting supply and demand.
What makes Trip.com important in the travel industry is its role as a digital booking hub, especially for customers who want to compare options and plan trips in one place. It combines direct booking, price comparison, and customer support across multiple travel categories. This makes it a useful middleman in travel, with revenue tied to travel activity and to the services it adds around the booking process.
Strong Revenue Growth: Trip.com Group reported Q4 2025 net revenue of RMB 15.4 billion, up 21% year-over-year, driven by robust travel demand.
Full-Year Performance: 2025 net revenue reached RMB 62.4 billion, up 17% year-over-year, with solid gains across accommodation, air ticketing, and packaged tours.
International Surge: International OTA platform gross bookings grew about 60% year-over-year, with international business now contributing roughly 40% of total revenue and bookings.
Inbound Travel Focus: Inbound tourism is a key growth area, with management serving 20 million inbound travelers in 2025 and aiming to double that in 2026.
AI and Innovation: The company is heavily investing in AI infrastructure and proprietary travel-focused models to enhance efficiency and user experience.
Cost Investment: Increased marketing and development expenses reflect strategic investments in international expansion, technology, and enhancing user services.
Regulatory Update: Management is cooperating with a regulatory investigation and emphasized ongoing commitment to compliance and transparency.
Shareholder Returns: Trip.com fully utilized its 2025 share repurchase quota and reaffirmed commitment to long-term shareholder value.
Management
Dr. Jianzhang Liang, also known as James Liang, is a prominent Chinese entrepreneur and influential figure in the travel and technology industry. He is notably recognized as one of the co-founders of Trip.com Group Ltd, previously known as Ctrip.com International, Ltd. James Liang was born in 1969 and earned his Bachelor's degree in Physics from Fudan University in China. He further advanced his education by obtaining a master's degree in Computer Science from Georgia Institute of Technology in the United States. Later, he completed his Ph.D. in Economics from Stanford University, which provided him with a comprehensive understanding of both technology and economic principles. This diverse educational background played a significant role in shaping his career and entrepreneurial ventures. In 1999, Liang co-founded Ctrip.com in Shanghai, which quickly grew to become China's leading online travel agency. His leadership and strategic vision significantly contributed to the rapid growth and success of the company in its early years. Under his guidance, the company expanded its services to include hotel bookings, flight ticketing, and comprehensive travel management services, becoming a dominant player in the Chinese travel market. Liang served various roles at Trip.com Group, including Chief Executive Officer and Executive Chairman. His leadership extended beyond business, as he also played a vital role in fostering innovation and technology development within the company. Additionally, he has been influential in advocating for and implementing advanced artificial intelligence and big data technologies to enhance customer experiences. Beyond his corporate responsibilities, James Liang is a respected economist and author. He has authored several books and papers on economic development and demographics, notably addressing China's future economic challenges related to its aging population. His work in this area has received widespread attention and sparked discussions on demographic policies in China. Overall, Dr. Jianzhang Liang is a pioneering figure in the travel industry, known for his entrepreneurial spirit, innovative approach, and contributions to both business and academic fields.
James Liang was born in 1969 and earned his Bachelor's degree in Physics from Fudan University in China. He further advanced his education by obtaining a master's degree in Computer Science from Georgia Institute of Technology in the United States. Later, he completed his Ph.D. in Economics from Stanford University, which provided him with a comprehensive understanding of both technology and economic principles. This diverse educational background played a significant role in shaping his career and entrepreneurial ventures.
In 1999, Liang co-founded Ctrip.com in Shanghai, which quickly grew to become China's leading online travel agency. His leadership and strategic vision significantly contributed to the rapid growth and success of the company in its early years. Under his guidance, the company expanded its services to include hotel bookings, flight ticketing, and comprehensive travel management services, becoming a dominant player in the Chinese travel market.
Liang served various roles at Trip.com Group, including Chief Executive Officer and Executive Chairman. His leadership extended beyond business, as he also played a vital role in fostering innovation and technology development within the company. Additionally, he has been influential in advocating for and implementing advanced artificial intelligence and big data technologies to enhance customer experiences.
Beyond his corporate responsibilities, James Liang is a respected economist and author. He has authored several books and papers on economic development and demographics, notably addressing China's future economic challenges related to its aging population. His work in this area has received widespread attention and sparked discussions on demographic policies in China.
Overall, Dr. Jianzhang Liang is a pioneering figure in the travel industry, known for his entrepreneurial spirit, innovative approach, and contributions to both business and academic fields.
Min Fan is a notable figure in the travel and tourism industry, known for his significant contributions to Trip.com Group Ltd., one of the world's leading online travel agencies. He was one of the co-founders of the company, initially known as Ctrip.com International, Ltd., which was established in 1999. His leadership and vision were pivotal in steering the company towards becoming a major player in the global travel market. Min Fan served as the President and Chief Operating Officer (COO) of Ctrip (now Trip.com Group Ltd.) for several years. Under his management, the company expanded its services and strengthened its market presence through innovative strategies and a customer-centric approach. His efforts in developing the company's domestic and international travel services significantly contributed to its growth and success. Throughout his tenure, Min Fan focused on enhancing user experience, expanding partnerships, and integrating advanced technologies to streamline operations. His work helped the company to adapt to changing market demands and maintain a competitive edge in the online travel industry. Upon transitioning from his operational role, Min Fan continued to contribute as a consultant, supporting Trip.com Group Ltd. with strategic guidance and insights based on his extensive experience and industry knowledge. His legacy includes fostering a corporate culture of innovation and excellence, which continues to influence the company's trajectory today.
Min Fan served as the President and Chief Operating Officer (COO) of Ctrip (now Trip.com Group Ltd.) for several years. Under his management, the company expanded its services and strengthened its market presence through innovative strategies and a customer-centric approach. His efforts in developing the company's domestic and international travel services significantly contributed to its growth and success.
Throughout his tenure, Min Fan focused on enhancing user experience, expanding partnerships, and integrating advanced technologies to streamline operations. His work helped the company to adapt to changing market demands and maintain a competitive edge in the online travel industry.
Upon transitioning from his operational role, Min Fan continued to contribute as a consultant, supporting Trip.com Group Ltd. with strategic guidance and insights based on his extensive experience and industry knowledge. His legacy includes fostering a corporate culture of innovation and excellence, which continues to influence the company's trajectory today.
Qi Ji is a prominent figure in the hospitality and travel industry, best known as a co-founder and executive chairman of Trip.com Group Ltd., a leading online travel agency in China, formerly known as Ctrip.com International. Born in 1967 in China's Jiangsu province, Qi Ji has played a crucial role in shaping the travel and tourism landscape in China. Before establishing Trip.com, Qi Ji accrued significant experience in the industry. He graduated from the University of California, where he developed a keen interest in technology and business. His entrepreneurial journey began with the founding of Home Inns, a budget hotel chain in China, demonstrating his ability to identify and capitalize on gaps in the Chinese hospitality market. Since co-founding Trip.com in 1999, Qi Ji has been instrumental in its growth and expansion. Under his leadership, the company has evolved to offer a comprehensive range of travel services, including accommodation reservations, transportation ticketing, packaged tours, and corporate travel management. Trip.com's strategic acquisitions and partnerships have further strengthened its global presence, making it one of the world's largest online travel service providers. Qi Ji's vision and leadership have earned him recognition both in China and internationally. His ability to adapt to changing market dynamics and embrace technological innovations has been key to Trip.com's success. Throughout his career, he has remained focused on enhancing customer experience and leveraging data-driven insights to refine service offerings. With his extensive industry experience and strategic insights, Qi Ji continues to play a vital role in guiding Trip.com's strategic direction and fostering innovation in the travel industry.
Before establishing Trip.com, Qi Ji accrued significant experience in the industry. He graduated from the University of California, where he developed a keen interest in technology and business. His entrepreneurial journey began with the founding of Home Inns, a budget hotel chain in China, demonstrating his ability to identify and capitalize on gaps in the Chinese hospitality market.
Since co-founding Trip.com in 1999, Qi Ji has been instrumental in its growth and expansion. Under his leadership, the company has evolved to offer a comprehensive range of travel services, including accommodation reservations, transportation ticketing, packaged tours, and corporate travel management. Trip.com's strategic acquisitions and partnerships have further strengthened its global presence, making it one of the world's largest online travel service providers.
Qi Ji's vision and leadership have earned him recognition both in China and internationally. His ability to adapt to changing market dynamics and embrace technological innovations has been key to Trip.com's success. Throughout his career, he has remained focused on enhancing customer experience and leveraging data-driven insights to refine service offerings.
With his extensive industry experience and strategic insights, Qi Ji continues to play a vital role in guiding Trip.com's strategic direction and fostering innovation in the travel industry.
Xiong Xing serves as the Chief Executive Officer (CEO) of Trip.com Group Ltd., a leading online travel company known for providing a wide array of travel services such as accommodation reservations, transportation ticketing, package tours, and corporate travel management. With a strong educational background and extensive experience in the travel and technology sectors, Xiong Xing has played a pivotal role in steering the company's strategic direction and ensuring its competitiveness in the global travel industry. Under his leadership, Trip.com Group has expanded its market presence and continuously enhanced its service offerings through technological innovation and strategic partnerships.
Michelle Qi is known for her role as the Chief Financial Officer (CFO) of Trip.com Group Ltd., a leading online travel company headquartered in China. With extensive experience in finance and leadership, she has been instrumental in steering the company's financial strategy. Before joining Trip.com, Ms. Qi held various key positions in notable organizations within the finance sector, which provided her with a deep understanding of corporate finance, capital markets, and strategic planning. Her leadership and vision have been crucial in helping Trip.com maintain its growth trajectory in the competitive travel and technology industry.
