Shanghai, May 21st (Reporter Shu Dongni) Today, Ctrip Group announced its unaudited financial performance for the first quarter of 2024. During the reporting period, the company's net revenue was 11.9 billion yuan, a year-on-year increase of 29%; Net profit of 4.3 billion yuan, compared to 3.4 billion yuan in the same period of 2023; The adjusted EBITDA is 4 billion yuan, the adjusted EBITDA profit margin is 33%, and the same period in 2023 is 31%.
In terms of business, in the first quarter of 2024, Ctrip's accommodation booking revenue was 4.5 billion yuan, a year-on-year increase of 29%; The operating revenue of transportation ticketing was 5 billion yuan, a year-on-year increase of 20%; The operating revenue of tourism and vacation business was 883 million yuan, a year-on-year increase of 129%; The operating revenue of business travel management business was 511 million yuan, a year-on-year increase of 15%.
During the reporting period, the domestic tourism market continued to maintain strong growth, driving Ctrip's domestic hotel and flight bookings to grow by over 20% year-on-year. The international business growth was significant, and the total revenue of Ctrip's international OTA platform increased by about 80% year-on-year. Among them, outbound tourism has become an important driving force in the tourism market in 2024, with Ctrip's outbound hotel and flight booking both increasing by over 100% year-on-year. In addition, Ctrip's inbound travel bookings have increased by more than four times year-on-year.
"At the beginning of 2024, driven by more stable supply and further relaxation of visa requirements, the demand for domestic and outbound tourism in China has significantly increased." said Liang Jianzhang, co-founder and chairman of the board of directors of Ctrip Group. "In addition, thanks to our continuously improving products, our global business has grown strongly. We are committed to investing in product and technological innovation to provide users with an excellent travel experience.".