Earnings release
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Shanghai , China , December 16 , 2021 - Trip.com Group Limited ( Nasdaq : TCOM ; HKEX : 9961 ) ( " Trip.com Group " or the " Company " ) , a leading one - stop travel service provider of accommodation reservation , transportation ticketing , packaged tours and corporate travel management , today announced its unaudited financial results for the third quarter of 2021 . Key Highlights for the Third Quarter of 2021 Trip.com Group Limited Reports Unaudited Third Quarter of 2021 Financial Results ● Exhibit 99.1 The Company has delivered resilient results despite the travel disruptions in the summer caused by the COVID - 19 pandemic . ● Total net revenue was largely stable year over year and decreased by 9 % quarter over quarter , mainly due to natural disasters and new rounds of COVID - 19 infections that affected multiple provinces in China . Staycation continues to serve as a major driver of domestic travel recovery in China , with intra province hotel reservations growing approximately 35 % and local hotel reservations growing over 60 % compared to the pre - COVID period in 2019 . International flight reservations grew approximately 40 % quarter over quarter , mainly driven by the recovery of the European and the US markets . Revenues from corporate travel management grew 20 % year over year and 1 % compared to the pre - COVID period in 2019 . " In the third quarter , we are glad to see the world continues its transition towards normalcy . Thanks to rapid vaccine rollouts and the easing of travel restrictions , people feel more comfortable traveling and can better experience destinations , " said James Liang , Executive Chairman . " We will continue to adopt a dual circulation strategy to focus on both the China domestic and the global travel markets , to keenly seize any opportunity amidst fast - changing market conditions . " " As the world is moving ahead and international travel becomes realistic once again , we face many challenges for global recovery , " said Jane Sun , Chief Executive Officer . " With crisis comes opportunity . We are working hard to seize opportunities by investing more in services , products and technology to reinstate traveler confidence , and to pursue the perfect trip for a better world . " Third Quarter of 2021 Financial Results and Business Updates In the beginning of the third quarter of 2021 , the Company continued to experience steady recovery of both domestic and overseas business . However , in August and September 2021 , a few waves of COVID - 19 infections reemerged in certain regions of China , which restrained users ' demand for the Company products , and materially and adversely affected the overall results of operations for the third quarter of 2021 . For the third quarter of 2021 , Trip.com Group reported net revenue of RMB5.3 billion ( US $ 831 million ) , representing a 2 % decrease from the same period in 2020. Net revenue for the third quarter of 2021 decreased by 9 % from the previous quarter , primarily due to the reemergence of COVID - 19 infections in certain regions in China .