4 Followers HKEX:780 - Tongcheng Travel Holdings Ltd Tongcheng-Elong Holdings Ltd
Sector: Consumer Discretionary, Industry: Hotels, Resorts & Cruise Lines
Next Earnings: 22 May 2024
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HKD 20.65    +0.79 (+3.98%)

28 Mar 2024


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General

Headquarters: HK

Description

Tongcheng Travel is an online travel agency platform that provides booking services for hotel and ticketing in China. It generated 88% of its revenue from accommodation reservations and transportation ticketing in the third quarter of 2022. The rest came from advertising and in-house software sales. The platform provides both online and offline services in the form of call centers. Tongcheng Travel was formed from the merger of Tongcheng Network and eLong in 2018. It is currently 21.38% owned by Tencent and 20.86% by Trip.com. Tongcheng targets lower-tier cities and as of 2021, 86.7% of its users are from non-first-tier cities in China and 61.7% of new paying users on Weixin were from Tier 3 or below cities in China. The company competes with Trip.com, Alibaba's Fliggy, and Meituan.

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