Question · Q3 2025
Simon Jang from Goldman Sachs inquired about Trip.com Group's long-term positioning and opportunities within the destination service business and "experience markets," especially in light of reported IPOs in that segment.
Answer
CEO Jane Sun described the destination service business as relatively small, projecting RMB 5 billion in GMV (2-3% of total GMV) with over 130% year-to-date growth. She noted it covers approximately 300,000 offerings worldwide, leveraging Trip.com's one-stop platform, large Asia-Pacific user base, loyalty programs, and AI tours. She clarified that traffic acquisition for this segment is "free" as customers are already on the platform for flights and hotels, and the primary goal is to enhance user experience, loyalty, and satisfaction rather than profit, with aggressive expansion planned.
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