Hotels, Resorts and Cruise Lines

Trip.com

HTHT

Financial Analysis

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09961

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TCOM

With the asset-light transition advancing and the hospitality &amp; travel sector recovering, Q4 sustained the strong momentum seen in Q3. Results beat expectations.

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H World

Atour

TRIP.COM-S

Trip.com HK SDR 50to1

HTHT: After the reset and rebound, how long can the poster-child status last?---

Ctrip

Conference Minutes

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Below is Dolphin Research's transcript summary of $Trip.com(TCOM.US) FY25 Q4 earnings call. For our earnings take, please see 'Trip.com: After the regulatory crackdown, can it stay lean and premium?'I. Review of core financial metrics. II. Detailed call notes.2.1 Management's key messages. 1) Three priority areas for investment.Inbound travel is viewed as a structural growth engine for the platform and destination economies. CSR initiatives: long-term value creation requires ongoing reinvestment in the ecosystem...

Tripadvisor

TRIP ADR US+

Alphabet - C

Alphabet

Direxion Daily Googl Bear 1x Shares

Direxion Daily GOOGL Bull 2X Shares

TCOM (Trans): No update on regulatory issues

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In the early hours on Feb 26 in U.S. after-hours, under a regulatory overhang, $Trip.com(TCOM.US) released FY2025 Q4 results. Overall, the print was decent, with revenue growth beating prior guidance and re-accelerating.However, opex increased across the board, rising faster than revenue and dragging GAAP OP below expectations. Details follow:1) Strong, accelerating revenue growth. On revenue, total net revenue rose 21% YoY, marking a YTD high and a clear acceleration vs. last quarter. Growth across business lines was broadly ahead of prior guidance...

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JD HK SDR 10to1

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ByteDance

TCOM: After the regulatory crackdown, can it remain a lean, high-quality play?

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TCOM 4Q25 First Take: Results were solid, with both strengths and weaknesses. The highlight is revenue growth beating prior guidance across the board, with a clear acceleration. A minor weakness is expenses ramped meaningfully, especially marketing, pushing GAAP OP below expectations. Given limited disclosure in the release and the market's focus on recent regulatory issues and potential impact, please refer to the upcoming Trans for more detail. Quarter details: Key points below. 1) Total revenue rose nearly 21% YoY, a clear step-up from 15% last quarter and well ahead of guidance and Street. By biz. line, growth picked up across segments. Outperformance came mainly from package tours and Ads &amp; Other, two smaller lines that surprised on the upside. 2) Alongside strong topline, total opex growth accelerated to 23% YoY despite a tough base, outpacing revenue. The main driver was marketing spend, up 30%+.With JD and Fliggy stepping up, while unlikely to dent TCOM's share, they likely raised traffic acquisition pressure, resulting in GAAP OP coming in ~4% below expectations. More detail will be in the upcoming Trans.

Today’s Key News Recap

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0114 | Dolphin Research Focus: 🐬 Macro/Industry 1) The China Chamber of Commerce to the EU said talks on the EU's anti-subsidy probe into Chinese EVs have made solid progress, with the EU set to replace countervailing duties with price undertakings. Eligible Chinese auto exporters can apply for assessment to obtain tariff exemptions, and the framework follows WTO rules and the non-discrimination principle, giving exporters clearer visibility for shipments to Europe. This helps defuse the China‑EU auto trade dispute, benefits major exporters such as BYD and SAIC, and supports value‑chain and supply‑chain stability.2) With CSRC approval, the Shanghai, Shenzhen and Beijing exchanges issued a notice to adjust the margin requirement for margin financing. The notice adjusts the margin requirement ratio...

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US 'easing' on H200 chips hits a wall; TCOM tumbles late on antitrust probe | Daily News Recap

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1118 | Dolphin Research Focus: 🐬 Macro 1. Today, both Hong Kong and A-shares collectively declined as the market's expectation for a December rate cut by the Federal Reserve continued to decrease. According to CME's &#34;FedWatch&#34;, the probability of a 25 basis point rate cut by the Federal Reserve in December has dropped to 42.9%, previously exceeding 70%. Federal Reserve Governor Waller also stated that if the job market rebounds, the necessity for an insurance rate cut will diminish. Additionally, the sell-off pressure on tech stocks and the Japanese bond market faced a sell-off wave due to concerns that the Kishida government will implement a large-scale fiscal expansion plan. Under multiple factors, global markets collectively declined...

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Global Markets Hit by 'Cold Wave'; Google AI Advances in Travel Services Track | Today's Important News Recap

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The following are the minutes of the FY25Q3 earnings call for $Trip.com(TCOM.US) organized by Dolphin Research. For an interpretation of the earnings report, please refer to &#34;Trip.com: Awaiting the Release of Overseas Profits.&#34; I. Review of Core Financial Information II. Detailed Content of the Earnings Call 2.1 Key Information from Executive Statements 1. Strong Market Demand: The global tourism industry is booming, with travel enthusiasm surging. Travel demand is skyrocketing, primarily driven by the robust vitality of domestic tourism in China and the steady recovery of outbound travel. Travelers are actively exploring new destinations, seeking authentic and in-depth cultural experiences...

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Ctrip (Minutes): Marketing expenses will continue to rise in the peak season of 4Q

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After the US stock market closed on November 18, $Trip.com(TCOM.US) announced its financial results for the third quarter of fiscal year 2025. The performance remained stable, with both revenue and profit slightly better than expected. Specifically: 1. Overall performance remained stable: In general, Trip.com Group's net revenue for this quarter was approximately RMB 18.3 billion (excluding business tax), representing a year-on-year increase of 15.4%. The growth rate slightly slowed down compared to the previous quarter but was still slightly higher than the market expectation of 14.5%, indicating stable growth. In terms of profit, the adjusted operating profit, after adding back stock-based compensation, was RMB 6.2 billion, a year-on-year increase of 13%, slightly higher than the company's guidance of RMB 5.8-5.9 billion...

MakeMyTrip

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Alibaba

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Ctrip: Awaiting the Release of Overseas Profits

Trip.com 3Q25 Quick Interpretation: Overall, Trip.com's performance this quarter remains generally stable and better than market expectations. In terms of trends, growth remains steady, but due to relatively high expenses, profit growth still slightly lags behind revenue growth. Specifically: 1. Growth: Total revenue increased by 15.4% year-on-year to 18.34 billion, with a slight deceleration quarter-on-quarter, but still slightly better than expected. In detail, the hotel business, which accounts for the largest proportion, saw a quarter-on-quarter slowdown of about 3 percentage points, partially offset by a slight acceleration in the ticketing business. More meaningful sub-segment growth details need to be observed in the conference call discussions. 2. Gross Profit: Mainly due to the higher proportion of overseas business, which has a lower gross margin, the overall gross margin this quarter still contracted by about 0.7 percentage points year-on-year, resulting in a 14.5% year-on-year increase in gross profit, slightly lower than the revenue growth rate, but still better than Bloomberg's consensus expectations. 3. Expenses and Profit: Similarly, mainly due to the investment in overseas business, expenses this quarter also maintained relatively high growth (+16.7% yoy), exceeding the growth rates of revenue and gross profit. The main driver was a nearly 24% increase in marketing expenses. As a result, with a slight narrowing of the gross margin and expansion of expenses, adjusted operating profit grew by 13% year-on-year this quarter, still in a period of profit margin contraction. However, the trend shows that the extent of profit margin contraction has narrowed compared to the previous two quarters and is better than the company's previous guidance. $Trip.com(TCOM.US) $TRIP.COM-S(09961.HK)

The following are the minutes of the FY25 Q2 earnings call for $Trip.com(TCOM.US). For an interpretation of the earnings report, please refer to &#34;Unafraid of JD.com's Entry, Ctrip Remains a Top Performer.&#34; 1. Review of Key Financial Information: Capital Expenditure: The company is committed to continuous investment in innovation, particularly in technology fields such as artificial intelligence (AI), and provides digital tools and marketing support for small and medium-sized enterprises. A $100 million tourism innovation fund has been launched to support business innovation. Sales and marketing expenses have increased, primarily to support international business expansion plans...

Trip (Minutes): Announced a $5 billion open-ended buyback plan

Trip.com Data Shows Surge in Asian Anime Tourism Search Volume

Ctrip to Report Q1 2026 Earnings

Trip.com Implements Multiple Optimization Measures in Response to Central Internet Office's Algorithm Regulations

Ctrip Investigated by SAMR for Suspected Monopoly Practices

Ctrip Data Shows Steady Growth in Domestic Tourism During May Day Holiday

Liang Jianzhang: China's inbound tourism has the potential to be the world's first

Liang Jianzhang Analyzes the Impact of Inbound Tourism on China's GDP

Trip.com Sets Five-Year Inbound Tourism Target and Appoints Jackie Chan as Ambassador

Ctrip Submits its 2025 20-F Annual Report

Ctrip Reports 94% Net Income Growth to RMB 33.39 Billion in FY 2025

Multiple Airlines Implement Strict Control Measures Against OTA Platforms and Ticket Agents

JPMorgan Maintains Overweight Rating on Ctrip

The Capital Group Increased Its Holdings in Ctrip by 897,761 Shares

Citi Maintains Buy Rating on Ctrip's US Shares, Expects Earnings in Line with Expectations

Morgan Stanley Downgrades Trip.com's Revenue and Profit Forecasts and Adjusts Target Price

Cyberspace Administration and National Railway Administration Meet with Seven Platforms Including Ctrip to Ban Ticket Snatching

Jefferies Predicts Ctrip's Q1 Revenue Growth of 14%, Maintains Buy Rating

Ctrip Releases Data: Inbound Tour Orders Increase by Nearly Doubles

Spring Tourism Market in Guangdong Sees a Surge in Family Travel and Educational Tours

Ctrip Prohibits Use of 'Hotel' in Homestay Names

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Ctrip (TCOM.US, 09961.HK) Q4 2025 Earnings Conference Call

Ctrip (TCOM.US, 09961.HK) Q3 2025 Earnings Conference Call

Ctrip (TCOM.US, 09961.HK) Q1 2025 Earnings Conference Call

Ctrip (TCOM.US, 09961.HK) 2024 Q4 earnings conference call

Ctrip (TCOM.US, 09961.HK) 2024 Third Quarter Earnings Conference Call

FLYU

BEDZ

Trip.com Group (TCOM) is facing a 5.8% decline following an anti-monopoly investigation by Chinese regulators into its AI-driven hotel pricing. This scrutiny has led to multiple securities class action lawsuits alleging misleading disclosures. Despite these challenges, the company continues to innovate with new products and partnerships. Investors are concerned about how regulatory pressures may impact the company's growth narrative and AI practices, while forecasts suggest a potential fair value of $76.91, indicating a 55% upside from current prices.

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Trip.com Group (TCOM) Is Down 5.8% After China Probes AI Pricing And Investors Sue Over Disclosures

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AWAY

Trip.com Group (NASDAQ: TCOM) is facing a securities class action lawsuit following a 17% drop in its share price after the company disclosed an investigation by Chinese regulators under the Anti-Monopoly Law. The lawsuit seeks to represent investors who purchased shares between April 30, 2024, and January 13, 2026. Allegations include misleading investors about the risks associated with its AI pricing tool, which reportedly coerced hotel partners into price reductions. The firm Hagens Berman is investigating potential violations of federal securities laws related to these claims.

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Invesco Leisure & ENT ETF

13:35 ETTCOM SHAREHOLDER UPDATE: Trip.com (TCOM) Facing Securities Class Action After AI Pricing Controversy and Anti-Monopoly Probe Sends Shares Tumbling -- Hagens Berman

Faruqi & Faruqi, LLP reminds investors of Trip.com (TCOM) about the May 11, 2026 deadline to seek lead plaintiff status in a federal securities class action. The firm is investigating claims against Trip.com for allegedly making misleading statements regarding regulatory risks. Investors who suffered losses between April 30, 2024, and January 13, 2026, are encouraged to contact the firm for legal options. The complaint follows a significant drop in Trip.com’s stock after news of an antitrust investigation by Chinese regulators.

MorningStar

TCOM CLASS ACTION DEADLINE TONIGHT: Faruqi & Faruqi, LLP Reminds Trip.com (TCOM) Investors of Securities Class Action Deadline on May 11, 2026

Trip.com Group (NASDAQ: TCOM) is set to announce its Q1 2026 earnings on May 18, with analysts predicting earnings of $0.85 per share and revenue of $2.2966 billion. The company reported $0.71 earnings per share in its last quarter, with a market cap of $34.22 billion. Recent analyst ratings include an "overweight" from Morgan Stanley and a downgrade from Weiss Ratings. Institutional investors have increased their holdings significantly, while legal risks from a securities fraud class action remain a concern for shareholders.

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Trip.com Group (TCOM) Expected to Announce Earnings on Monday

Trip.com(TCOM.US)

Trip.com Group (TCOM) Is Down 5.8% After China Probes AI Pricing And Investors Sue Over Disclosures

13:35 ETTCOM SHAREHOLDER UPDATE: Trip.com (TCOM) Facing Securities Class Action After AI Pricing Controversy and Anti-Monopoly Probe Sends Shares Tumbling -- Hagens Berman

TCOM CLASS ACTION DEADLINE TONIGHT: Faruqi & Faruqi, LLP Reminds Trip.com (TCOM) Investors of Securities Class Action Deadline on May 11, 2026

Trip.com Group (TCOM) Expected to Announce Earnings on Monday

10:13 ETTCOM Deadline: TCOM Investors with Losses in Excess of $100K Have Opportunity to Lead Trip.com Group Limited Securities Fraud Lawsuit First Filed by the Rosen Law Firm

Deadline Soon: Trip.com Group Limited (TCOM) Shareholders Who Lost Money Urged To Contact The Law Offices of Frank R. Cruz About Securities Fraud Lawsuit