Core Viewpoint - The company reported a strong performance in Q1 2025, with revenue and net profit exceeding market expectations, driven by controlled marketing expenses and favorable foreign exchange gains [1][3]. Performance Review - In Q1 2025, the company's revenue increased by 16% to 13.8 billion yuan, aligning with market expectations; non-GAAP net profit reached 4.2 billion yuan, exceeding market expectations by 9% [1]. - The company's hotel booking revenue in Q1 2025 was 5.54 billion yuan, a 23% year-on-year increase, surpassing market expectations by 1.4% [1]. Development Trends - Domestic tourism demand remains robust, with hotel prices expected to stabilize. The company anticipates a mid-to-low double-digit year-on-year growth in domestic hotel night stays for Q2 2025, with a narrowing decline in Average Daily Rate (ADR) [1]. - For outbound travel, the company expects a 15-20% year-on-year increase in outbound flight and hotel bookings in Q2 2025, recovering to 120% of 2019 levels, despite challenges in the Thai market [2]. Growth Expectations - Trip.com is projected to achieve high growth, with international OTA bookings increasing over 60% in Q1, and inbound travel bookings nearly doubling [3]. - The company expects to maintain a 50%+ revenue growth rate for Trip.com in the second half of the year, supported by strong demand from inbound tourism policies and brand expansion into new markets [3]. Profit Forecast and Valuation - The company has adjusted its non-GAAP net profit forecasts for 2025 and 2026 upwards by 3% to 16.4 billion yuan and 18.9 billion yuan, respectively, while maintaining revenue expectations [3]. - The target prices for the company's shares are set at $75.9 for US stocks and HK$588.5 for Hong Kong stocks, reflecting a potential upside of 13% and 14% from current prices [3].

智通财经5月6日电，2025年"五一"假期，各地推出丰富多彩的旅游产品、文化活动和惠民举措，着力满 足群众多元化和个性化需求。据文化和旅游部数据中心测算，假期5天全国国内出游3.14亿人次，同比 增长6.4%；国内游客出游总花费1802.69亿元，同比增长8.0%。 同比增长6.4% 今年"五一"假期国内出游3.14亿人次 ...

外国游客太多，日本人开始"疏远"国内旅游地 原创 阅读全文 日经GO ...

"五一"假期，国内旅游市场大幅升温，"世纪工程"港珠澳大桥成为粤港澳大湾区热门旅游目的地。据珠 海边检总站港珠澳大桥边检站数据显示，截至5月2日，"五一"假期期间预约参观"港珠澳大桥游"人数已 超过7100人次，预约量较平日增加超50%。数据显示，截至今年5月2日，港珠澳大桥边检站已查验"大 桥游"旅行团超过9030个，游客总数超过36.1万人。今年以来，截至5月1日，该站已查验游客超过9万 人。（大湾区之声） ...