智通财经5月20日电，携程美股跌近7%，报62.8美元。消息面上，该公司发布2025年第一季度业绩，纯 利42.77亿元，同比跌0.8%。 ...

携程 20250520 摘要 • 携程集团 2025 年第一季度整体预订量同比增长超 60%，国际在线旅游平 台表现强劲，亚太地区为主要增长引擎，移动平台贡献 70%的国际预订， 反映用户对 App 旅行规划的偏好。 • 中国入境旅游显著复苏，2025 年第一季度全国入境游客同比增长 40%， 免签国家游客占比 75%。携程入境预订同比增长约 100%，亚太经合组织 主要免签国酒店预订搜索量增长超 240%。 • 携程集团积极拥抱人工智能，通过 AI 助手 Trip Genie 提升用户体验，用 户会话时长增加约 50%。AI 聊天机器人处理超 80%的售后询问，显著缩 短响应时间，提高客户满意度。 • 携程关注老年人市场，提供超 7,000 个旅游产品、2000 家合作酒店及 4,000 个酒店套餐，并提供一对一客户支持。同时，通过短剧推广旅游产 品，鼓励供应商开发适老化产品。 • 年轻旅行者对"娱乐+旅行"体验需求旺盛，相关产品收入同比增长超 400%。携程策划音乐会、动漫、体育赛事等主题产品，以满足年轻群体 对个性化和文化相关性的需求。 Q&A 2025 年第一季度携程集团的业绩表现如何？ 2025 年 ...

以下是携程 FY25 Q1 的财报电话会纪要，财报解读请移步《携程：又是增收不增利，优等生也遇到难题了？》 一、财报核心信息回顾 | TCOM Financial Results Recap | | | | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | RMB '00mn | 1Q23 | 2023 | 3Q23 | 4Q23 | 1Q24 | 2024 | 3Q24 | 4Q24 | 1Q25 | 1Q25E | var. | | Total net revenue | 92.0 | 112.5 | 137.4 | 103.3 | 119.1 | 127.7 | 158.8 | 127.4 | 138.3 | 138.0 | 0.2% | | yoy | 124% | 180% | 99% | 105% | 29.4% | 13.5% | 15.7% | 23.5% | 16.2% | 15.9% | | | Accommodation | 34.8 | 42.9 | 5 ...

北京时间 5 月 20 日早美股盘后，携程网公布了 2025 财年 1 季度财报，详细要点如下： 1、 整体来看，本季 携程整体净收入 138 亿元 （剔除营业税）， 同比增长 16%，和市场预期近乎完全一致。 利润上，加回股权激励支出的 调整后经营利润为 40.4 亿，同比仅增长 7%，比预期稍多不足 3 亿。 2、 业务口径上， 入境游的预订同比增长超 100%，出境游的机酒预订量超过 19 年同期的 120% ， 和上季度披露的完全一致 ，可见出入境游需求依旧不错，但 并没有进一步走强 （当然也没有变差）。 纯海外业务的预订量同比增长 60% ，较上季披露时的 70% 略有下降。不过在步入高基数期后 ，仍有大几十% 的增速仍属不错。 3、财务口径下，两大支柱业务中， 酒店业务的营收同比增长了近 23% ，虽然环比降速明显，但 比市场预期的增速高出 1.4pct。 结合公司先前的指引，由于国内 酒旅的客单价同比下滑中个位数%，导致国内酒店收入增速可能放缓到 10%~15%，靠更强的出境和纯海外业务带动整体增长。 票务业务的收入增速则为 8.4%，又跌回个位数增长，但在市场预期之内。 主要是 国内和出境机票 ...

Financial Performance - In Q1 2025, the company reported a net operating revenue of 13.8 billion yuan, a year-on-year increase of 16% [2] - The net profit remained stable, showing a slight decline of 0.81% to 4.277 billion yuan compared to the previous year [2] - Accommodation booking revenue reached 5.5 billion yuan, up 23% year-on-year, driven by increased bookings [2] - Transportation ticketing revenue was 5.4 billion yuan, reflecting an 8% year-on-year growth [2] - The travel vacation business generated 947 million yuan, a 7% increase year-on-year [2] - Business travel management revenue was 573 million yuan, up 12% year-on-year [2] Market Growth and Strategy - The growth in the tourism sector is attributed to robust consumer demand and favorable policy environment [2] - The company's international business saw a travel booking volume increase of over 60% year-on-year, with inbound travel orders rising by approximately 100% [2] - Outbound travel business in Q1 exceeded 120% of the levels seen in the same period of 2019 [2] Future Outlook - The company aims to enhance its product system and user experience to become the preferred platform for global tourists traveling to China [3] - The company is focused on leveraging its comprehensive range of Chinese tourism products and strong service capabilities to capture growth opportunities [3]

Core Insights - Airbnb is expanding its services beyond short-term rentals to include "Airbnb Services" and "Airbnb Experiences," aiming to enhance user engagement and revenue streams [1][4][9] - The company plans to invest $200 million by 2025 to support this strategic upgrade, leveraging its strong cash flow from core rental operations [7][17] - The new offerings are designed to attract users even when they are not traveling, addressing a decline in travel demand among American consumers [2][3][10] Summary by Sections Strategic Shift - Airbnb's new strategy includes the introduction of services like private chefs and fitness trainers, as well as curated local experiences [1][4] - The goal is to transform Airbnb from a rental platform into a comprehensive lifestyle service provider, potentially generating $1 billion or more in revenue from these new segments [4][9] Market Context - Post-pandemic, there was a surge in travel demand, but growth has since slowed, particularly in the U.S. market [2][3] - The company aims to counteract this trend by diversifying its offerings, as traditional travel-related services face uncertainty [3][10] Financial Commitment - The $200 million investment will be allocated to app development, service supply acquisition, and marketing efforts to raise awareness of the new offerings [7][12] - Airbnb's core business remains profitable, generating significant cash flow, which supports the funding of these new initiatives [17] User Engagement - The new services are expected to increase user interaction with the app, as they can be utilized in everyday life, not just during travel [11][13] - The redesigned app will feature an integrated experience for users, allowing seamless access to services and rentals [5][12] Competitive Landscape - Unlike other major U.S. tech companies, Airbnb is uniquely positioned to offer local lifestyle services, filling a gap in the market [8][9] - The company emphasizes its operational strengths in managing service providers, ensuring quality and ease of booking for users [15][17] Long-term Vision - Airbnb aims to achieve $1 billion in revenue from the new services within 3 to 5 years, while also enhancing the competitiveness of its core rental business [9][13] - The company will measure success by the frequency of app usage during both travel and non-travel periods [10][13]

Group 1 - The core idea of the articles revolves around the growing trend of travel among older adults, particularly those aged 50 and above, highlighting the emergence of tailored travel services and experiences for this demographic [2][4][5] - Ctrip's "Old Interesting Travel Group" has launched a series of themed tours specifically designed for seniors, achieving over 10 million exposures online and attracting more than 300,000 members within a year [2] - The customized inbound travel services have seen a significant revenue increase of 599% year-on-year, indicating a strong demand for personalized travel experiences among older travelers [5] Group 2 - Ctrip has successfully organized a reunion trip for a group of silver-haired classmates, emphasizing the importance of cultural and culinary experiences tailored to their preferences [4] - The company has initiated various marketing campaigns to promote Chinese mountain culture in South Korea, resulting in a 70% increase in ticket sales for related flights [7] - The rise of young tour guides, particularly university students, is reshaping the car rental travel experience, with over 2,000 students joining Ctrip's guiding platform [9] Group 3 - Ctrip's "Hello Island" project has attracted nearly 100 university students and entrepreneurs to explore new paths in tourism and digital integration on Zhoushan Island, contributing to local economic development [11][12] - The company is capitalizing on the trend of concert tourism, with a reported 6.8 billion yuan in travel consumption driven by young concert-goers, leading to a 400% increase in related product revenue [14] - A music competition organized by Ctrip and NetEase Cloud Music has gathered 13,500 original songs, promoting local tourism through music and engaging over 660,000 voters [15] Group 4 - Ctrip's vacation farm initiative has created job opportunities for 40,000 individuals, showcasing the impact of rural revitalization efforts in various regions [17] - The company has established 34 vacation farms, supporting local communities and enhancing the connection between traditional lifestyles and modern tourism [17]

这一动作,被业内视为惠选订房从行业鲶鱼向龙门跃迁的关键一役,也是资本寒冬中罕见的逆势豪赌。 李嘉诚盯上的项目 这次亿级合作背后,藏着一场跨越20年的资本轮回。故事的起点,要从李嘉诚多年前的一笔投资说起。 5月17日,中国酒店行业与数字广告领域同时迎来一场"巨震"。 以"滴滴订房"模式颠覆酒店行业的惠选订房,与"中国高铁传媒第一股"兆讯传媒达成了亿级传播合作。 早在1998年,美国诞生了一家名为Priceline的旅游服务企业。该公司的独特之处在于开创了一种全新的商 业模式——Name Your Price。 Name Your Price的中文含义是"用户定价",即商品或服务的价格由消费者确定,符合条件的商家可根据消 费者的报价进行抢单。 "用户定价"模式的价值体现在,它既为用户节省了成本、提高了消费效率,又为商家带来了更多客源、提 升了销售业绩。 凭借这一创新模式,Priceline成立当年便获得了一亿美元的融资,不到两年时间就在纳斯达克成功上市,甚 至引起了李嘉诚的关注。 2001年,当互联网泡沫破灭,Priceline股价跌至冰点,李嘉诚以7352万美元抄底,最终控股这家以"用户定 价"模式横扫全球的在 ...

Core Insights - Ctrip has released a report predicting the travel trends for the Dragon Boat Festival in 2025, highlighting a diverse development in the tourism market with a steady growth trajectory for domestic travel [1] Group 1: Travel Trends - The domestic surrounding travel bookings for the Dragon Boat Festival are expected to increase by 23% year-on-year, indicating a robust recovery in the tourism market [1] - Popular destinations include Beijing, Shanghai, and Nanjing, with strong travel demand from the Yangtze River Delta, Pearl River Delta, Beijing-Tianjin-Hebei, and Sichuan-Chongqing regions [1] Group 2: Hotel Pricing Dynamics - Hotel prices are set by the hotels themselves, and OTA platforms do not interfere; this leads to price discrepancies for the same room type due to different pricing strategies by agents [2] - It is advised for travelers to monitor hotel price trends and book in advance to secure better deals [2] Group 3: Cultural and Traditional Activities - There is a 50% year-on-year increase in searches for traditional cultural experiences during the Dragon Boat Festival, with activities like dragon boat racing and making zongzi gaining popularity [3] - Notable increases in tourism bookings were observed in Foshan, Hunan, and Zhejiang, with growth rates of 167%, 85%, and 40% respectively for travel orders [3] Group 4: International Travel - Popular international destinations include Japan and South Korea, with a significant interest in short-haul flights [4] - Unique destinations like Egypt and Russia have seen hotel booking increases of 193% and 133% respectively, indicating a growing interest in diverse travel options [4]

5月20日，携程集团公布2025年第一季度未经审计的财务业绩。数据显示，公司当季净营业收入达138亿 元人民币，同比增长16%，净利润为43亿元，毛利率维持在81%的高位。在国际业务高速扩张与技术赋 能的双重驱动下，携程集团延续了2024年以来的增长动能，展现出旅游行业复苏背景下头部企业的韧 性。 核心业务稳健增长 国际业务占比突破14% 从业务板块看，携程四大核心业务均实现两位数增长：住宿预订收入55亿元，交通票务收入54亿元，旅 游度假收入9.47亿元，商旅管理收入5.73亿元。其中，国际业务成为最大亮点——国际OTA平台整体旅 行预订量同比增长超60%，国际业务收入占比从2024年一季度的10%提升至14%，成为驱动增长的核心 引擎。 出境游业务表现尤为突出，携程平台交易总额（GTV）恢复至2019年同期的120%，显著高于行业平均 水平。机票订单量恢复至95%，酒店住宿订单量恢复至80%，度假业务订单量恢复至70%以上。其中， 东南亚、日韩等短线目的地订单量增长迅猛，泰国、马来西亚等市场预订量已超2019年同期 110%-120%，日本市场因签证简化和日元贬值增速达45%-50%。 入境游市场同样迎来 ...