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Trip.com tracks recovery in Q2 2023

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SHANGHAI, 7 September 2023: Trip.com Group, a global one-stop travel service provider, announced its unaudited financial results for the second quarter on Monday, showing a robust recovery trend.

Key highlights Q2/2023

Domestic and international businesses continued to show a robust recovery during the second quarter of 2023.

  • Domestic hotel bookings grew by 170% year over year and over 60% compared to the pre-Covid level for the same period in 2019.
  • Outbound hotel and air reservations recovered to over 60% of the pre-Covid level for the same period in 2019, surpassing the industry-wide recovery rate of 37% in terms of international air passenger volume for the same period.
  • Air ticket bookings on the company’s global OTA platform grew by over 120% year over year and nearly doubled compared to the pre-Covid level for the same period in 2019.

The company delivered strong results in the second quarter of 2023

  • Total net revenue increased by 180% year over year and exceeded the pre-Covid level for the same period in 2019 by 29%.
  • Net income for the second quarter was RMB648 million (US$91 million), which improved from RMB43 million for the same period in 2022.
  • Adjusted EBITDA for the second quarter was RMB3.7 billion (US$507 million). Adjusted EBITDA margin was 33%, compared to 9% for the same period in 2022 and 31% for the previous quarter.

“During the second quarter of 2023, the demand for both domestic and international travel remained resilient,” said Trip.com Group executive chair James Liang. “Despite limited air capacity recovery, the robust rebound of travel activities reflects travellers’ strong desire to explore the world. We remain optimistic about the enduring demand for travel and the long-term market outlook.”

Jane Sun

“We are encouraged by our solid results in the second quarter,” Chief Executive Officer Jane Sun noted. “With the thriving market demand and our outstanding performance, we are poised to take the lead in driving the industry’s recovery and actively creating an abundance of job opportunities alongside our esteemed business partners.”

Second quarter results and business updates

The company’s business continued to recover significantly since the pent-up demand for travel remained strong, which led to an increasing volume of travel bookings, primarily due to the substantial travel market recovery.

For the second quarter of 2023, Trip.com Group reported net revenue of RMB11.2 billion (USD1.6 billion), representing a 180% increase from the same period in 2022 and a 22% increase from the previous quarter.

Accommodation reservation revenue for the second quarter of 2023 was RMB4.3 billion (USD591 million), representing a 216% increase from the same period in 2022 and a 23% increase from the previous quarter.

Transportation ticketing revenue for the second quarter of 2023 was RMB4.8 billion (USD664 million), representing a 173% increase from the same period in 2022 and a 16% increase from the previous quarter.

Packaged-tour revenue for the second quarter of 2023 was RMB722 million (USD100 million), representing a 492% increase from the same period in 2022 and an 87% increase from the previous quarter.

Corporate travel revenue for the second quarter of 2023 was RMB584 million (USD81 million), representing a 178% increase from the same period in 2022 and a 31% increase from the previous quarter.

Cost of revenue for the second quarter of 2023 increased by 106% to RMB2 billion (USD277 million) from the same period in 2022 and increased by 23% from the previous quarter, primarily due to the substantial recovery of the travel market. Cost of revenue as a percentage of net revenue was 18% for the second quarter of 2023.

Product development expenses for the second quarter of 2023 increased by 67% to RMB3 billion (USD407 million) from the same period in 2022. They increased by 10% from the previous quarter due to increased product development personnel-related expenses. Product development expenses as a percentage of net revenue was 26% for the second quarter of 2023.

Sales and marketing expenses for the second quarter of 2023 increased by 185% to RMB2.4 billion (USD325 million) from the same period in 2022. They increased by 34% from the previous quarter, primarily due to increased sales and marketing promotion expenses. Sales and marketing expenses as a percentage of net revenue was 21% for the second quarter of 2023.

Net income for the second quarter of 2023 was RMB648 million (USD91 million), compared to RMB43 million for the same period in 2022 and RMB3.4 billion for the previous quarter. Adjusted EBITDA for the second quarter of 2023 was RMB3.7 billion (USD507 million), compared to RMB355 million for the same period in 2022 and RMB2.8 billion for the previous quarter. Adjusted EBITDA margin was 33% for the second quarter of 2023, compared to 9% for the same period in 2022 and 31% for the previous quarter.

Net income attributable to Trip.com Group’s shareholders for the second quarter of 2023 was RMB631 million (USD89 million), compared to RMB69 million for the same period in 2022 and RMB3.4 billion for the previous quarter.

(SOURCE: Trip.com Group Limited)

Sabah goes Giphy at the MATTA Fair

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TTR WEEKLY
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KUALA LUMPUR, 7 September: The Sabah Tourism Board (STB) has embarked on a dynamic digital arts initiative to enhance its marketing strategies.

Unveiled at the MATTA Fair opening Friday, 1 September, STB introduced its inaugural collection of Graphic Interchange Format (GIF) on the dynamic creative platform Giphy to promote tourism products and attractions in Sabah.

The new initiative was jointly launched by Tourism, Arts and Culture Ministry (MOTAC) secretary-general Datuk Roslan Abdul Rahman and Sabah Assistant Tourism, Culture and Environment Minister Datuk Joniston Bangkuai.

Given Giphy’s widespread integration with popular social media platforms like Instagram, TikTok, WhatsApp, and Facebook – channels frequented by travellers and other users – the move aligns well with STB’s aim to resonate with its audience. 

“This trend adoption enables a stronger connection with their followers,” said Joniston, who is also STB chairman. 

STB is the first tourism board in Malaysia to venture onto the Giphy platform to promote Sabah’s tourism products and attractions. 

Tourism, Arts and Culture Ministry (MOTAC) Secretary-General Datuk Roslan Abdul Rahman (left) and Sabah Assistant Tourism, Culture and Environment Minister Datuk Joniston Bangkuai (right) launching the Sabah Tourism Board digital arts initiative at the MATTA Fair in Kuala Lumpur, on Friday (1 September).

In collaboration with four talented Sabahan artists – Iffah Hazirah and Adora Chloe from Kota Kinabalu, Rachel Rayner from Beaufort, and Nelson Lip from Tawau – STB has brought to life animated content that encapsulates the essence of Sabah.

These freelance artists have each crafted 10 distinctive designs, representing different aspects of Sabah – from adventure and culture to islands, beaches, and nature – all rendered in their unique artistic styles.

Searching for @sabahtourism or other keywords related to Sabah, Malaysia Borneo will provide customised GIFs/Stickers that users can use on their social media postings.

During the MATTA Fair, the Sabah Tourism Board also ran an online contest on social media, offering winners the opportunity to claim special artisanal products from Sabah’s small business owners at the travel fair.

“The Sabah Tourism Board is always seeking inventive and innovative ways to promote Sabah, and for this campaign, we partnered with our creative local communities. 

“To successfully market Sabah, we must adopt a cooperative, integrative strategy. Sabah is home to many creative talents, and we want to give them the tools they need to spread the word about what a great place Sabah is,” said Joniston.

Coinciding with the MATTA Fair from 1 to 3 September 2023, visitors could win prizes from the Sabah Tourism Board when they uploaded a photo of themselves at the Sabah Pavillion and applied for the Sabah Tourism Giphy stickers.

Sabah Tourism encourages social media fans to add fun to their travel tales by incorporating the @sabahtourism stickers in their posts.

https://sabahtourism.com/

Centara makes leadership team moves

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TTR WEEKLY
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BANGKOK, 7 September 2023: Centara Hotels & Resorts, Thailand’s leading hotel operator, is delighted to announce strategic leadership changes within the organisation to reinforce further its commitment to delivering the highest standards of service across all its brands across Thailand and overseas.

Centara’s strong family values have been at the core of its success for the past 40 years, and the company believes that internal mobility is crucial to driving business success. By nurturing its employees’ talents and affording ample opportunities to grow within the organisation, Centara has positioned itself as The Place to Be for its guests and employees.

As part of Centara’s goal of becoming a top 100 global hotel operator by 2027, the company has made the following internal personnel movements:

  • Robert Maurer-Loeffler, General Manager of Centara Grand & Bangkok Convention Centre at Central World, has been promoted to vice president of operations for Centara Grand properties in Thailand.
  • David Martens has been promoted to senior director of operations for Centara properties and assumes the position of general manager of Centara Karon Resort Phuket.
  • Wuthisak Pichayagan, general manager of Centara Grand at Central Plaza Ladprao Bangkok, takes on additional responsibilities as director of operations for all Central Pattana hotel properties in Thailand.
  • Sebastien Scheeg, general manager of Centara Mirage Beach Resort Dubai, expands his scope with promotion to director of operations for all Middle East and Maldives properties.
  • Chaiphun Thongsuthum has been appointed General Manager of Centara Grand Mirage Beach Resort Pattaya
  • Bernd Rudigier has been appointed as General Manager of Centara Grand Beach Resort Phuket

“Congratulations to each of our team members for their remarkable accomplishments. At Centara, our success is driven by the dedication of our people, and we take immense pride in cultivating an environment where individuals evolve and grow within our organisation,” said Centara Hotels & Resorts executive vice president – human resources, Siriwan Wangthamrong.

“As we continue on our journey to becoming a leading global hotel operator, we remain committed to creating the best possible workplace for our employees.”

This new structure reflects Centara’s dedication to internal mobility and cultivating a dynamic work culture supported by family values, enabling the company to provide a seamless and consistent guest experience at each of its properties worldwide.

Find out more about Centara at www.CentaraHotelsResorts.com

Philippines move ahead on tourism projects

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TTR WEEKLY
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MANILA, 7 September 2023: Philippines President Ferdinand R. Marcos Jr. said Friday that policies and programmes to upgrade critical tourism infrastructure and capacity building for the workforce and entrepreneurs are underway.

According to the Philippines News Agency report, Tourism Secretary Christina Garcia Frasco read the President’s welcome address during the 34th Philippine Travel Mart (PTM) opening session at the SMX Convention Centre, SM Mall of Asia Complex in Pasay City.

Photo credit: DOT Philippines. Tourism Secretary Christina Garcia Frasco.

Marcos pledged his administration’s nationwide efforts to leverage tourism’s strengths and competitive advantages to solidify the sector’s economic position in this age of “revenge travel.”

He acknowledged the vital contributions of small business players and the local government units in the robust performance of Philippine tourism over the years, providing livelihood opportunities to more than 5 million Filipinos.

“Of course, we must not overlook our local government units, the private sector, especially our micro, small and medium enterprises, whose efforts are just as indispensable to the vibrant performance of our tourism industry across the country,” he said.

In a separate presentation, Frasco bannered some of the big wins of the country’s tourism industry in the post-pandemic era.

“As of August, we have recorded 3.64 million international arrivals since January,” she said, according to the DOT’s news release.

Frasco noted that the figure is already 75.92% of the country’s target of 4.8 million this year.

The annual Philippine Travel Mart was hosted from 1 to 3 September at Halls 1 to 4 of the SMX Convention Centre, with around 200 exhibitors representing the accommodation sector, travel agencies, tour operators, theme parks and airlines.

Now, in its 34th edition, the show was established by the DOT in 1989, and since 1994, PHILTOA has staged the event as its flagship project.

(SOURCE: PNA)

V of BTS is back with New Tradition

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TTR WEEKLY
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SEOUL, South Korea, 7 September 2023: The Seoul Metropolitan Government and Seoul Tourism Organization launched a worldwide release of the Seoul Edition 23: New Tradition, a Seoul tourism promotional campaign video featuring V of BTS*. 

Its teaser video boasted a significant response, raking in 400,000 views in just one week. The second instalment of the campaign, Seoul Edition 23: Nature in the City, is scheduled for release on 8 September.

A Seoul tourism promotional video for 2023 featuring V, BTS member and Honorary Tourism Ambassador of Seoul, was released on VisitSeoul TV (https://www.youtube.com/VisitSeoulTV), the official YouTube channel for Seoul tourism operated by the Seoul Tourism Organisation.

The first feature video, New Tradition, introduces Seoul and its capacity to encompass elements of the past in the modern day. The video starts with the Seoul Edition 23 title, juxtaposing V against the Seoul backdrop. 

It then progresses to show how the traditional marks and symbols of the city remain incorporated in our daily lives in modernised form, such as the Y2K fashion found at Dongmyo Market, a modern café in a traditional market, and the media façade exhibition in Gwanghwamun Square. The video wraps up with the message, Seoul, Make It Yours, to encourage global viewers to seize the opportunity to experience Seoul in the here and now.

The second feature video, Nature in the City, slated to be unveiled on 8 September, puts the lifestyle of Seoulites on display, embracing nature in the bustling downtown area.

In addition, the Seoul Edition Hashtag Event will be held for one month in September on Visit Seoul’s social media channels. Those who post the designated hashtag with photos of the places they want to visit or recommend are entered into a draw to earn the chance to win a roundtrip air ticket to and from Seoul and a single-night voucher at a five-star hotel. Event details can be found on Visit Seoul’s official Instagram channel (@visitseoul_official) and other Visit Seoul social media channels.

The Seoul tourism promotional campaign showcases the Seoul Metropolitan Government’s new brand slogan, “Seoul, My Soul”, worldwide. Labelled with the new brand slogan, campaign content will be released worldwide using outdoor media channels in six major cities, including Times Square in New York City, Tokyo, Shanghai, Bangkok, and Taipei. All displayed content will align with the theme of taking selfies with V in hopes of going viral among fans and other interested viewers in the global community.

The campaign will also be featured globally in the US, Europe, and other regions of Asia through major television networks.

Going beyond just promoting Seoul as a tourist destination, the Seoul Tourism Organisation will send a strong message to attract tourists by describing a fast-changing Seoul as a “limited-edition item”. The campaign also emphasises setting the tone for Seoul’s image as a city that embraces the “newtro” trend alongside the ability to harmonise itself with nature in and around Seoul.

*Kim Tae-hyung, also known professionally as V, is a South Korean singer and a member of the boy band BTS. Since his debut with the band in 2013, V has performed three solo songs under their name—”Stigma” in 2016, “Singularity” in 2018, and “Inner Child” in 2020—all of which hits on South Korea’s Gaon Digital Chart (Wikipedia).

(Source : Bernama, Seoul Tourism Organization)

Luxury tented holiday option opens in Bhutan

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TTR WEEKLY
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SINGAPORE, 7 September 2023: Luxury travel company andBeyond has celebrated the launch of its first lodge in Asia, andBeyond Punakha River Lodge, situated in the Himalayan kingdom of Bhutan.

“The first fully andBeyond-owned and managed property to open on the continent, Punakha River Lodge kicks off a brand-new era of expansion for our brand,” explains andBeyond managing director Asia, South America and Business Development Mark Wheeler.

“We are building onto our almost two decades of touring expertise in Asia to create a lodge footprint that will help us to continue to grow our conservation-led business model on three continents.”

Situated on the banks of the Mo Chu River in the Punakha Valley, the lodge features six tented suites, as well as a two-bedroom villa with a private pool and a one-bedroom villa, which boasts a plunge pool / hot tub, depending on the season.

Like all andBeyond’s properties, the lodge draws inspiration from its natural surroundings and combines traditional Bhutanese style with a unique twist. Safari-style tented suites are suspended from a traditional Bhutanese timber structure.

Boasting uninterrupted views of the Himalayas, the lodge site offers easy and unrivalled access to the Khamsum Yuelley Namgyal Chorten, a site that is a major drawcard for visitors to Punakha. A suspension bridge leads over the river, and a selection of walking trails is situated nearby.

The site also allows andBeyond to offer a variety of activities and experiences that are unmatched in the area, including cycling, river rafting and kayaking, as well as exceptional nature hikes and birding opportunities.
The lodge’s direct access to the Khamsum Yuelley Namgyal Chorten Hike has allowed andBeyond to create a unique early morning experience. Other attractions include the famed Punakha Dzong and the Sangchhen Dorji Lhuendrup Nunnery.

ABOUT andBEYOND
Established in 1991, andBeyond is a specialised tour operator covering sub-Saharan Africa, Asia, South America and Antarctica. It also owns and manages 29 lodges and camps across three continents.

Princess builds a home for penguins

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TTR WEEKLY
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SINGAPORE, 7 September 2023: Princess Cruises is expanding its environmental stewardship in New Zealand by offering funding from its Princess Local Partnerships programme to Dunedin-based Natures Wonders that helps safeguard the country’s iconic wildlife.

The new partnership will support building a habitat for an emerging Blue Penguin colony in Otago and preserving the last major yellow-eye penguin colony on the mainland of New Zealand.

Princess Cruises senior vice president Asia Pacific, UK and Europe, Stuart Allison, said the cruise line is committed to supporting conservation and culture in New Zealand by using tourism as a vehicle for regeneration.

“This expanded partnership will further support community-based conservation efforts in New Zealand, playing a pivotal role in protecting these treasured species for generations to come,” he said.

Natures Wonders owner Perry Reid added: “We are thrilled to be formalising a partnership with Princess Cruises after so many years of introducing Princess guests to the wildlife here at Natures Wonders. With the generous funding from Princess Cruises, we will build more nesting boxes for the flourishing Blue Penguin colony and extend our predator-free boundary. We expect this will greatly impact Blue Penguin numbers while preserving the neighbouring Yellow-Eyed Penguin colony as well.”

Launched in 2019, the Princess Local Partnerships programme is funded by guest donations and also supports Bay Bush Action in the Bay of Islands, a cause it has backed since its inception.

Princess Cruises will return to New Zealand with four ships for the summer cruise season commencing with Coral Princess in Auckland on 16 September. Royal Princess will make her maiden visit to New Zealand, with her first call in Tauranga on 18 October, while Majestic Princess will return visiting Auckland on 30 October. Grand Princess will also make several calls to New Zealand as part of her summer season, visiting Auckland on 17 October.

(SOURCE: Carnival)

AirAsia connects Kota Kinabalu and Hangzhou

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TTR WEEKLY
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KOTA KINABALU, 7 September 2023: AirAsia celebrated yet another direct international flight into Kota Kinabalu this week from Hangzhou, China, marking the airline’s first flight for this route after a three-year hiatus.

The renewed service offers weekly flights throughout September 2023 but should increase daily flights for the winter timetable from October 2023 to March 2024.

Caption (centre): Pn. Noredah Othman, CEO of Sabah Tourism Board and  Vivien Lee, Political Secretary representing Minister of Tourism, Culture and Environment YB Datuk Christina Liew, together with AirAsia at the welcoming event.

To celebrate the milestone, guests onboard flight AK1575 from Hangzhou to Kota Kinabalu were welcomed by AirAsia and Sabah Tourism Board CEO Pn Noredah Othmanmuch.

AirAsia Malaysia CEO Riad Asmat said: “We are delighted to resume the Kota Kinabalu to Hangzhou route, connecting these two remarkable cities once again. We’ve always strived to uphold our commitment to contribute to Sabah’s booming tourism industry through our expanding network of flights in Asia and beyond, and this new route is a clear testament to that. Sabah and China are two of our key markets, and we’re confident that our vast connectivity will enable affordable travel for our trusted guests as we continue to grow our fleet and network to cater to growing demand.”

AirAsia is offering a 20%* discount on all seats and all flights to Chengdu, Beijing, Guangzhou, Shenzhen, Guilin, Shantou, Nanning, Taipei, Kaohsiung, Macau, Hong Kong for bookings made by 10 September 2023 with travel open between 11 October 2023 to 31 March 2024.

Kota Kinabalu is AirAsia’s second-largest hub, connecting the city to nine domestic and 10 international destinations via 268 weekly frequencies and counting. AirAsia Malaysia (AK) currently flies 20 routes to and from Greater China with over 156 flights weekly from Kuala Lumpur to Guilin, Quanzhou, Guangzhou, Kunming, Shenzhen, Nanning, Shantou, Kaohsiung, Hong Kong and Macao; Kota Kinabalu to Guangzhou, Shenzhen, Wuhan, Beijing and Macao; Penang to Hong Kong and Johor Bahru to Guangzhou. AirAsia X Malaysia (D7) currently flies five routes to/from China, with over 30 flights weekly from Kuala Lumpur to Chengdu (Tianfu), Beijing (Daxing), Shanghai, Hangzhou and Taipei.

Travelex launches Travel Money Card in Japan

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TTR WEEKLY
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SINGAPORE, 6 September 2023: Travelex, a foreign exchange brand, has introduced its prepaid foreign currency card to the Asian market with the launch of the Travelex Travel Money Card in Japan.

Designed for overseas use and available to customers 12 years and above, the contactless-equipped card enables customers to load multiple currencies for use at Mastercard-affiliated shops or restaurants in more than 210 counties and regions worldwide.

In addition to the Japanese Yen, the Travelex Money Card supports eight foreign currencies, including the US Dollar, Euro and Australian Dollar. When travelling to other countries, customers can load their cards with Japanese Yen or other supported currencies and convert them to the local currency when making a payment.

The card is not linked to a bank account, meaning unauthorised access is minimised compared to a traditional credit or debit card. Unlike many other foreign currency cards, the TMC does not require My Number verification documents, making it possible to purchase the card quickly and conveniently, including on the day of departure.

The card can be purchased in-store, pre-ordered online and then picked up in-store. Also, the card’s features can be managed through the Travelex Money App, which enables customers to add currency, check their balance, view their transaction history and pause usage in case of loss or theft.

The Travelex Money Card is already available to customers in the UK, Australia and New Zealand and replaces the existing Travelex Multi-currency Cash Passport sold in the Japanese market.

About Travelex
Founded in 1976, Travelex provides foreign exchange products, solutions, and services in more than 20 countries. It also processes and delivers foreign currency orders for major banks, travel agencies, supermarkets and hotels worldwide.

Outrigger names GM for Maui resort

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TTR WEEKLY
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SINGAPORE, 6 September 2023: Outrigger Kaanapali Beach Resort in Maui, Hawaii, has named Edwin Torres general manager with the immediate task of supporting Outrigger hosts, their families and the community in the aftermath of the Lahaina wildfires.

Outrigger Hospitality Group finalised its acquisition of the 11-acre (4.4 ha), 432-room Kaanapali Beach Hotel on 26 July 2023. 

 It was renamed the OUTRIGGER Kaanapali Beach Resort.

The property is located on the world-famous Kaanapali Beach, Maui – recently ranked as the number one beach in the US and the number 10 beach in the world by TripAdvisor.

Torres will lead the beachfront resort with an eye to delivering exceptional service and authentic guest experiences while ensuring operational profitability and host engagement and development.

Torres has been the complex general manager, overseeing both the Outrigger Waikiki Beachcomber Hotel and Ohana Waikiki East by Outrigger since February. 

Before that, he was general manager of Outrigger Waikiki Beachcomber Hotel since 2021 – Hawaii’s first craft hotel, which he elevated to number one on TripAdvisor out of 94 hotels on O‘ahu.

Torres’ Outrigger career began as food and beverage director at the Outrigger Guam Beach Resort. His industry experience includes director of event operations for the Grand Hotel Marriott in Point Clear, Alabama, and food & beverage director at W Retreat & Spa Vieques Island, Puerto Rico, and Scrub Island Resort, Spa & Marina, British Virgin Islands.

“Edwin possesses the remarkable skill to cultivate a success-driven atmosphere, uniting his colleagues in a tight-knit ohana (family),” said Outrigger senior vice president of operations for the Americas Mike Shaff. “I have full confidence in Edwin’s capacity to lead this renowned resort impeccably, particularly in the aftermath of the destructive fires in Lahaina.”

About Outrigger

For 75 years, Outrigger has charted a journey of discovery – expanding from Hawai‘i to resort destinations, including Fiji, Mauritius, Thailand and the Maldives

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