Trip.com

What Trip.com does

Trip.com is the international-facing brand of Trip.com Group Limited (HKEX: 9961; NASDAQ: TCOM), a dual-listed online travel agency founded in 1999 as Ctrip by James Liang. The platform aggregates flights, hotels, attractions, tours, car hire, and trains into a single multilingual booking surface, serving both Chinese outbound and international inbound travelers across 39 countries. It operates a sister-brand portfolio (Ctrip for China, Skyscanner for metasearch, Qunar, Trip.Gourmet, Trip Community, Trip for Everyone) and holds a 56% share of China's domestic online travel market by GMV.

The technology stack is anchored by a 50+ petabyte ClickHouse-based logging and analytics infrastructure migrated from Elasticsearch in 2024, which delivers 4–30x faster queries and over 50% lower storage costs. Proprietary AI capabilities center on TripGenie, a conversational travel assistant with three years of operational history, 400% growth in AI-assisted bookings, and multimodal interactions; the platform also plugs into Ant International's Alipay+ Voyager agentic AI and supports novel payment rails including stablecoin (USDT/USDC) processing via Singapore-licensed Triple-A and digital ID pilots via Google and Apple wallets. Distribution extends across direct app/web, TikTok Go, JR Companies for Shinkansen QR ticketing, Checkout.com acquiring, and embedded partner surfaces.

Trip.com's business model is commission- and transaction-fee-based across its OTA marketplace, supplemented by cross-border payment infrastructure revenue, advertising/content commerce via the 12,000+ creator Trip Community ecosystem, and subscription-style retention through Trip Coins and VACAY loyalty. Q1 2026 revenue reached RMB 16.2B (~US$2.4B, +17% YoY) on a full-year 2025 base of RMB 62.5B. Distribution is overwhelmingly direct-to-consumer, with named B2B relationships functioning as supply or channel partners rather than revenue-anchoring customers. The company faces material regulatory headwinds — notably a January 2026 SAMR antitrust investigation and an active U.S. securities class action — but mitigates these with RMB 78.5B cash reserves and continued geographic and product expansion.

Name

Trip.com

Legal name

Trip.com Group Limited

Website

https://trip.com

Company type

Public

Founded year

1999

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

Trip.com is the international brand of Trip.com Group Limited, a dual-listed OTA platform offering flights, hotels, attractions, tours, cars, and trains across 39 countries, anchored by proprietary AI assistant TripGenie and a 50+ petabyte data infrastructure. It serves Chinese outbound and global inbound travelers, holding 56% of China's domestic online travel market.

Ownership category

akta.pro rank

Product category

Online Travel Agency

NAICS

Travel Agencies (561510), Travel Agencies (56151), Scenic and Sightseeing Transportation (487)

SIC

Transportation Services (4700), Services-Amusement & Recreation Services (7900)

akta.pro primary industry

Online Booking & Reservation Platforms (B2B/B2C) (THALAMAA)

akta.pro secondary industries

Package Travel & Dynamic Packaging Marketplaces (Flight+Hotel+Car) (THALAFAH), Online/Hybrid Corporate Travel Agencies (Self-Booking + Support) (THAKACAB)

Keywords

• Online travel agency
• Flight booking platform
• Hotel reservation services
• Vacation package booking
• Travel marketplace

Headquarters

HQ city

Singapore

HQ country

Singapore

HQ region

Asia

Offices3 records

Markets served

GTM type

B2C

Offering type

Digital Commerce or Content

Cost components

Operations, Personnel, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. OTA Transaction Commissions: Trip.com earns commissions on travel transactions across flights, hotels, attractions, car hire, and trains booked through its platform; Q4 2025 net revenue reached RMB 15.4 billion (+21% YoY) and full-year 2025 revenue reached RMB 62.5 billion.
2. Cross-Border Transaction Fees and Payment Infrastructure: Trip.com generates transaction-based revenue from cross-border bookings, with a strategic partnership with Checkout.com targeting an estimated additional $480-720 million in annual transaction volume by 2027 across Saudi Arabia, Japan, UK, and North America (approximately 14 million active users in these four markets).
3. Creator-Driven Content Commerce: Trip.com monetizes content-driven discovery through the Trip Community ecosystem, integrating content creation with travel planning and bookings and engaging over 12,000 verified creators across more than 170 countries.
4. Loyalty Program (VACAY/Trip Coins): Trip.com offers loyalty programs including VACAY and Trip Coins that drive repeat engagement and bookings; the company frequently layers promotional pricing, app-exclusive pricing, promo codes, and event-based discounts on top of base transaction commissions.

Pricing tiers

Go-to-market motion1 record

Distribution channels7 records

Core offering

Trip.com operates an integrated multi-product online travel agency platform enabling consumers to book flights, hotels, attractions, tours, car hire, and trains globally, with particular strength across Asia-Pacific. The platform aggregates third-party travel inventory and sells it directly to individual consumers via app and web, supported by AI-powered trip planning (TripGenie), localized payment infrastructure, and a creator-content ecosystem.

Differentiator

Problem solved

Functional benefit

Brands

• Trip.Gourmet: Food and travel guide restaurant ranking platform under Trip.com Group, featuring a 2026 Global Restaurant Selection List across 68 countries.
• TripGenie
• Trip Community
• Trip for Everyone
• Ctrip

Products and services

• Trip.com Core OTA Platform Online travel agency platform offering booking for flights, hotels, attractions, car hire, and trains. Operates globally with particular strength in Asia-Pacific markets and a multilingual global platform serving international travellers.
• TripGenie AI Travel Assistant AI travel assistant embedded in the Trip.com platform that handles conversational travel planning, itinerary generation, and in-trip decision-making for travelers.
• Trip Community (Creator Content Ecosystem) Travel-content ecosystem that integrates verified creator content with travel planning and bookings, engaging over 12,000 verified creators across more than 170 countries.
• Trip.Gourmet Global Restaurant Selection Food and travel guide under Trip.com Group that curates global restaurant selections featuring over 18,000 restaurants across 68 countries, with categories highlighting sustainability, fusion cuisine, vegetarian options, and immersive dining.
• Trip for Everyone (Inclusive Design) Inclusive design project providing accessibility features including dynamic font scaling, full-screen reader optimization, and AI-powered travel tools, helping users with disabilities access Trip.com services.
• Trip Coins / VACAY Loyalty Program Loyalty/rewards program within the Trip.com platform offering trip coins and VACAY benefits that drive repeat engagement and bookings alongside promo codes and bundled deals.
• Trip.com Attractions & Tours ("Play & Experience") Attractions, tours, and experiences inventory within Trip.com, including exclusive third-party ticketing distribution partnerships (e.g., HyperDrive at Sentosa).
• Trip.com Shinkansen Ticketing Rail ticketing module enabling international travellers to buy Japan Shinkansen tickets online with seat selection (non-reserved, reserved, Green Car) and QR code boarding on Tokaido, Sanyo, and Kyushu Shinkansen lines.
• Stablecoin (USDT/USDC) Payments Stablecoin payment option for overseas users in selected regions (excluding mainland China and Hong Kong), supporting USDT and USDC across Ethereum, TRON, Polygon, Solana, Arbitrum One, and The Open Network.
• Digital ID via Google and Apple Wallets Digital identity system enabling travelers to use wallet-based credentials (Google Wallet and Apple Wallet) within Trip.com's booking and travel flow to streamline identity verification.

Quantifiable outcome

• +17% YoY revenue growth in Q1 2026 to RMB 16.2 billion (~$2.4B)
• +6 more outcomes

Named customers3 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration14 records

AI capability15 records

Feature6 records

Scale indicators16 records

Recent moves7 records

Expansion highlights8 records

Emerging players

• KKday: KKday is a Taiwan-headquartered activities and experiences booking platform competing in the same Asia-Pacific attractions space as Trip.com's tours module, including participation in joint roadshows like Hong Kong K-Tourism 2026.
• Mafengwo: Mafengwo is a Chinese online travel and UGC platform focused on outbound tourism and travel content, overlapping with Trip.com's outbound Chinese traveler base and Trip Community creator ecosystem.
• Klook: Klook is a leading Asia-focused attractions, tours, and experiences platform that directly competes with Trip.com's "Play & Experience" portfolio, particularly in Hong Kong, Singapore, and SE Asia where Klook has stronger supplier relationships.

Regional players

• MakeMyTrip: MakeMyTrip is India's largest OTA in which Trip.com holds a 16.9% voting interest; it competes in adjacent geography (South Asia) with similar multi-product (flights, hotels, holidays) offerings, making it both a related party and a relevant comparable for South Asian travel dynamics.
• Traveloka: Traveloka is Southeast Asia's largest OTA, competing directly with Trip.com in Indonesia, Vietnam, Thailand, and Malaysia across flights, hotels, and attractions. Both platforms integrate via OneFly for low-cost carrier inventory, signaling parallel go-to-market strategies in SE Asia.

Direct peers

• Tongcheng Travel (LY.com): Tongcheng Travel is a major Chinese OTA listed on HKEX that competes with Trip.com Group's Ctrip and Trip.com brands in China's domestic and outbound travel markets, with overlapping hotel and flight inventory.
• Booking Holdings: Booking Holdings operates Booking.com, Priceline, Agoda, KAYAK, and OpenTable — the most direct global OTA competitor to Trip.com, with overlapping hotel/flight/attraction inventory and a comparable multi-product marketplace model, though with stronger Western market position.
• Expedia Group: Expedia Group operates Expedia, Hotels.com, Vrbo, and trivago, competing directly with Trip.com across flights, hotels, vacation rentals, and attractions globally, with comparable B2C/B2B distribution and similar agentic AI investments.
• Airbnb: Airbnb is a leading alternative accommodation and experiences marketplace that competes with Trip.com's lodging and attractions inventory, particularly in cross-border leisure travel, with growing investment in AI-powered trip planning that overlaps with TripGenie.

Broad incumbents

• Google Travel: Google Travel (via Search, Maps, Gemini, and hotel metasearch) is a broad incumbent that competes indirectly with Trip.com by capturing upstream travel intent and increasingly moving into AI-powered booking flows (including the agentic Gemini travel experience).

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks7 records

Key highlights7 records

Customer concentration

• Xx.com/Trip
• Facebookfacebook.com/Trip
• LinkedInlinkedin.com/company/trip-com

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Subsidiaries5 records

Funding overview

Funding rounds4 records

Investors5 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A5 records

Investments20 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Trip.com