Trip.com Group Expects 50 Percent Drop in First Quarter Revenue But Sees Some Local China Recovery
Photo Credit: Trip.com CEO Jane Sun speaking at the launch of the OTA's Travel Revival V Plan to stimulate post-coronavirus tourism recovery. Trip.com
Skift Take
To hear that signs of recovery are in sight from China’s biggest travel firm is offering the battered tourism industry a glimmer of hope.
The prospect of decelerating growth that Trip.com Group projected at its last earnings call has significantly paled in comparison with the sharp revenue decline of up to 50 percent that the Chinese online travel giant in now expecting for the first quarter of 2020.
While the Shanghai-based group began the year with strong expectations, the impacts arising from the coronavirus outbreak swiftly became “challenging” for the travel industry and led the company to lower expectations for growth in the first quarter, Trip.com’s top executives revealed during its fourth-quarter earnings call on Thursday.
However, Trip.com Group Chairman James Liang and CEO Jane Sun expressed their belief in the “long-term prospects of tourism,” calling the coronavirus crisis a “one-off.”
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