China’s Trip.com Group Has ‘Less Worse’ Second Quarter Than Booking and Expedia
Photo Credit: The exterior of a Wangfujing Mandarin Oriental Hotel in Beijing. Trip.com Group said the high-end hotel sector is propelling its financial results. Mandarin Oriental
Skift Take
In some respects, travel companies are prisoners of their geographic strengths and weaknesses in the Covid-19 era. Operational considerations aside, it sure didn't hurt Trip.com Group to be based in China.
Because of China's earlier-than-the-rest recovery and inroads in striking deals with high-end hotels, Trip.com Group notched a second quarter that was better in most respects than the performance of Booking Holdings and Expedia Group.
For example, Trip.com Group's revenue fell "only" 64 percent year over year to $448 million, compared with plummets in the quarter of 82 percent and 84 percent at Expedia Group and Booking Holdings, respectively.
While Booking Holdings recorded a profit, namely net income of $122 million in
