COMPANY PROFILE -Trip.com Group
Business Sector :Travel
Operating Geography :China, Asia, Global
About Trip.com Group :
Trip. com Group Limited is a Chinese multinational travel website company that provides services like lodging bookings, transit ticketing, packaged tours and corporate travel management. The company has its headquarters in Shanghai, China. The firm was incorporated in 1999 and now owns and operates Trip.com, Skyscanner, Qunar, and Ctrip which are all online travel agencies. The company has created an enormous hotel network with over 1.4 million hotels in 200 countries and regions to provide its customers with an excellent choice of accommodation. Its vast airline network connects more than 5,000 cities around the world with over 2 million different flight routes. Through the aggregation of comprehensive travel-related information and resources, as well as an advanced transaction platform comprised of mobile apps, websites, and 24/7 customer service centres, it enables local partner to make informed and cost-effective bookings for travel products and services. On April 19, 2021 the company was officially listed on the Hong Kong Stock Exchange and now it is listed on both the Hong Kong Stock Exchange and the NASDAQ Stock Exchange in the United States (with the ticker TCOM), making it the first global travel organisation to do so. Trip.com and AXA Partners' strategic partnership continues to grow in Europe. Trip.com and AXA Partners announced a significant European expansion of new travel insurance products for German and French visitors in May 2022. The two new insurance solutions offer a variety of benefits, such as medical, cancellation, and baggage coverage, and can be chosen when booking a flight on Trip.com.
Trip.com Group's Unique Selling Point or USP lies in it being the largest online travel agency (OTA) in China and one of the largest travel service providers in the world. The mission statement of Trip.com reads, "To Make Every Trip the Perfect Trip” and our corporate vision is “to be the most trusted, productive and responsible travel services provider, creating the most value for our customers, partners and the industry”.
Trip.com Group Revenue :
RMB 20,029 million - FY ending 31st December 2021 (y-o-y increase of 9.77%)
RMB 18,327 million - FY ending 31st December 2020
Competitive Analysis of Trip.com Group
The SWOT analysis for Trip.com Group is presented below in a matrix followed by the detailed analysis report:
| Strengths | Weaknesses |
1. Provision for both online and offline channels to reach the customers
2. Single platform to connect ecosystem partners with the users
3. Open platform attracts more ecosystem partners to provide their services
4. Company’s portfolio of products and services accommodate all needs for a traveler
5. Use of proprietary search and transaction engines attract and retain users
| 1. Seasonal fluctuations in demand may affect revenues
2. Regulations related to air-ticketing, travel agency, e-commerce and consumer protection need to be followed
3. COVID affected the travel sector which reduced the revenues for 2020
|
| Opportunities | Threats |
1. Use of AI and Big data in its platform makes it futureproof
2. Large investments in marketing and branding will build the user base
3. Strategic investments and acquisitions may help the company grow and expand
| 1. Large competition in China’s travel industry would restrict the company’s growth |
Trip.com Group SWOT and PESTLE Analysis PDF Report is a custom report and will be delivered to your email inbox within 2 business days from purchase.
Detailed SWOT Analysis of Trip.com Group
Strength
1. Provision for both online and offline channels to reach the customers: The online channels for reaching the customers includes mobile applications, other mobile access channels, and websites. Trip.com has online reservation and fulfillment infrastructure which enables its users to explore, search, reserve, and buy travel products and other value-added services in China, and have continued to expand globally. By 2020, the company's mobile channels would have handled more than 90% of total transaction orders. Trip.com's services and products are available in 20 languages, as well as 31 local currencies and sites. The company is also expanding its offline presence by partnering with business partners to open offline stores to serve users who prefer an in-person experience. Offline stores provide one-stop services such as travel consultation and other local support and assistance. Trip.com had approximately 5,000 offline stores in over 300 Chinese cities as of December 2021. With a broad offline and online presence, the company is able to reach its customers optimally and generate revenues.
The remaining section under "Strength" is available only in the 'Complete Report' on purchase.
Weakness
This section is available only in the 'Complete Report' on purchase.
Opportunity
This section is available only in the 'Complete Report' on purchase.
Threat
This section is available only in the 'Complete Report' on purchase.
The PESTLE analysis for Trip.com Group is presented below in a table followed by the detailed analysis report:
| Political | Economical |
| 1. Impact of US-China trade war on the tourism sector | 1. Impact of COVID-19 on travel industry in China
2. Increasing gross and disposable income raises demand for travel |
| Social | Technological |
1. Sharing economy like Uber and Airbnb make travel cheaper
2. Social media apps making tourist sites more attractive
3. Increasing internet penetration in developing countries may drive demand for tourism industry
| 1. Rising use of AI and ML in online booking sites |
| Legal | Environmental |
1. Visa policies of different countries may affect the tourist movements
2. Online travel sites need to adhere to data privacy laws
| 1. Impact of climate change on the tourism industry |
Trip.com Group SWOT and PESTLE Analysis PDF Report is a custom report and will be delivered to your email inbox within 2 business days from purchase.
Detailed Pestle Analysis of Trip.com Group
Political
This section is available only in the 'Complete Report' on purchase.
Economic
This section is available only in the 'Complete Report' on purchase.
Social
1. Sharing economy like Uber and Airbnb make travel cheaper: Travelling does not need to be costly anymore. It is becoming increasingly affordable to travel the world due to the rise of share economies. Cabs can now be booked online or through an app making it easier to arrange for peer-to-peer rentals. Companies like Airbnb have eased the way to home sharing making it easier for travelers to rent cheap accommodations. There are other accommodation platforms like MetroResidences, Wimdu, Accommable and Roomfilla which offer similar services to Airbnb. Due to the rise of apps like Uber, Grab and Lyft, there is no longer need to be at the mercy of taxis who can inflate their prices. Sharing economy platforms have changed the way we travel, in addition to making accommodations and transportation more convenient. New websites like Airbnb Experiences and WithLocals connect travellers with local experts who can show them around or teach them a skill. Trip.com can look for innovative collaborative options to enhance the business offerings.
The remaining section under "Social" is available only in the 'Complete Report' on purchase.
Technological
This section is available only in the 'Complete Report' on purchase.
Legal
This section is available only in the 'Complete Report' on purchase.
Environmental
This section is available only in the 'Complete Report' on purchase.
Trip.com Group SWOT and PESTLE Analysis PDF Report is a custom report and will be delivered to your email inbox within 2 business days from purchase.
TABLE OF CONTENTS
DELIVERY AND FORMAT
WHY CHOOSE US?
You may also be interested in other analyses of Trip.com Group:
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| Trip.com Group Porter's Five Forces Analysis |
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| Trip.com Group VRIO Analysis |
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| Trip.com Group Value Chain Analysis |
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| Trip.com Group Covid-19 Impact Analysis |
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| Trip.com Group BCG Analysis |
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| Trip.com Group Segmentation, Targeting and Positioning (STP) Analysis |
|
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| Trip.com Group Ansoff Matrix Analysis |
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Check Out Analysis of Other Relevant Companies
References used in Trip.com Group SWOT & PESTLE Analysis Report
1. Annual Report - https://investors.trip.com/static-files/08bd6175-f635-419c-9b88-f9f4eefe79ff
2. TRADE TENSIONS BETWEEN THE U.S. AND CHINA ARE HURTING THE AMERICAN TOURISM INDUSTRY - https://psmag.com/economics/how-chinese-trade-tensions-are-hurting-the-us-tourism-industry
3. IMPACT OF COVID-19 ON GLOBAL TOURISM MADE CLEAR AS UNWTO COUNTS THE COST OF STANDSTILL - https://www.unwto.org/news/impact-of-covid-19-on-global-tourism-made-clear-as-unwto-counts-the-cost-of-standstill
4. How Machine Learning and AI Can Improve Travel Services - https://towardsdatascience.com/how-machine-learning-and-ai-can-improve-travel-services-3fc8a88664c4
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Trip.com Group SWOT and PESTLE analysis has been conducted by Amit Kabi and reviewed by senior analysts from Barakaat Consulting.
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