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Revenues at China-based online travel giant Group fell by 13% year-over-year to $628 million.

Release time : 2021-05-20 22:26:40
source : Travel Weekly

Revenues at China-based online travel giant Group fell by 13% year-over-year to $628 million.

The company, operator of the Ctrip, Skyscanner and brands, said the group's overall revenues were mainly due to a "strong recovery" in March 2021.

It is still being impacted by a decrease in international travel from Chinese citizens and users of the brands elsewhere.

Travel restrictions have eased in mainland China, the group said, but the reintroduction of some measures in other markets in January and February this year have impacted its overall performance.

Accommodation revenue decreased by 37% year-over-year to $241 million (down 30% on the final quarter of 2020), despite the traditionally strong Chinese New Year travel activity.

Air tickets and other transportation revenues came in at $230 million for Q1 2021, also down 37% on the corresponding period in 2020.

Executive chairman James Liang said: " Group's mission is to pursue the perfect trip for a better world. Over the past two decades, we have continuously been exploring and innovating to further expand our offerings.

"Going forward, we will continue to expand product offerings, improve service quality, innovate our content, and bring new value to the travel industry."

Other segments also experienced a decline year-over-year, with packages down 68% on the first quarter of 2020 to $26 million.

The biggest uptick for the business came in the corporate travel line of business as revenues hit $39 million after a 101% increase year-over-year.

CEO Jane Sun added: "Despite the challenges in January and February of 2021 due to outbreaks of virus during the winter season, China domestic travel rebounded quickly in March and showed stronger momentum in April and May.

"Quality leisure travel showed rapid growth, with reservations for mid to high-end hotels spearheading growth. Meanwhile, long-distance travel in mainland China has fully

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