Recently，Ctrip Group announced its unaudited financial results for the first quarter ended March 31, 2020。Financial report display，Ctrip’s net operating income in the first quarter was 4.7 billion yuan，Down 42% year-on-year。Under the influence of the epidemic，The first quarter performance of 188bet Live Casino companies continues to be under pressure。Reduce costs，Transformation and change have become a top priority for travel companies。Strengthening transformation and upgrading，Accelerate the construction of online assets，Improving the level of smart 188bet Live Casino has become the choice of many travel companies。

Listed 188bet Live Casino companies’ performance is under pressure

May 29，Ctrip Group announced its unaudited financial results for 188bet Live Casino ended March 31, 2020。Financial report display，Ctrip’s first quarter net operating income was 4.7 billion yuan，Down 42% year-on-year。Due to the sharp drop in revenue，Net loss attributable to shareholders of Ctrip Group was 5.4 billion yuan。

Not just Ctrip，The performance of domestic and foreign listed 188bet Live Casino companies in the first quarter was not very good。

Meituan’s first quarter 2020 financial report is not optimistic either。Data display，The company recorded an operating loss of 1.7 billion yuan，Adjusted net loss is 2.200 million yuan，Decrease by 79 year-on-year.4%。Tuniu’s previously released performance forecast shows，Income fell by nearly 70% in the first quarter。Zhongxin 188bet Live Casino、Looking at the first quarter financial report previously released by CYTS and others，Revenue declines exceeded 50%。Among them，Uoxin 188bet Live Casino’s revenue in the first quarter fell by 53% year-on-year.26%，China Youth 188bet Live Casino Service’s revenue in the first quarter fell by 52% year-on-year.76%。

Overseas companies are not optimistic either。The first quarter financial report previously released by online travel company Booking，Company’s total travel bookings in Q1 were .4 billion，Down 51% year-on-year，Net loss in the first quarter 6.US.9 billion。Booking Holdings CEO Glenn Fogel said，The epidemic has had a profound impact on the company and the entire 188bet Live Casino industry。The first quarter financial data disclosed by Expedia, the world’s largest online travel group, also shows，Its first-quarter gross bookings fell 39% year-on-year，Total revenue fell 15% year-on-year，Net loss .3 billion。

According to a recent report released by the United Nations World 188bet Live Casino Organization，Affected by the new coronavirus epidemic，Global international tourist arrivals fell 22% year-on-year in the first quarter of this year。Compared to last year，Global international 188bet Live Casino may decline by 60% to 80% this year。

Reducing costs and increasing efficiency

For the prospects of global 188bet Live Casino this year，Many institutions believe that this depends on the effectiveness of epidemic prevention and control in each country、How long measures such as travel restrictions and airport closures will last。United Nations World 188bet Live Casino Organization estimates，If the opening of borders and the lifting of travel bans are gradually implemented in early July，188bet Live Casino could experience a 58% decline，If implemented in early September and early December，The decline may reach 70% and 78% respectively。According to the agency’s expert prediction，Global 188bet Live Casino is expected to recover by the end of 2020 or early 2021。The agency estimates，Global 188bet Live Casino output value this year is expected to decrease by 70% compared with 2019。The previous global financial crisis in 2008 caused the 188bet Live Casino output value to drop by 10% to 20%。

Lei Haisu, Dean of the Research Institute of China 188bet Live Casino Group Co., Ltd., thinks，It is impossible for the 188bet Live Casino industry to achieve a "V"-shaped reversal within the year，And it will also change with the development cycle of the global epidemic，Entering a “U”-shaped or even “W”-shaped long bottom recovery stage that lasts close to or exceeds 12 months。

Facing the long road to recovery，188bet Live Casino companies are actively helping themselves。Introduced by Peter Kern, Vice Chairman and CEO of Expedia，“Since the outbreak of the new coronavirus pneumonia，The group’s business has decreased significantly。But we implemented cost-saving measures earlier this year，So we are still leading the competition。As the impact of the epidemic intensifies，We accelerate and expand plans to improve our long-term cost structure。”It is reported，Expedia announced 3,000 layoffs at the beginning of the year，The group also reduced sales and marketing expenses in the first quarter to 12.USD 100 million，Reduced by 20% year-on-year，Direct cost reduction of 0 million。Also，Expedia also raised significant additional funding，To further enhance financial liquidity。

Domestic 188bet Live Casino enterprises，Tongcheng Yilong also quickly stopped most of its marketing and promotional activities，Saved some marketing fees；It also significantly reduces administrative costs and daily operating costs，To alleviate the negative impact of the epidemic on the company。Ctrip also chooses to “sparse food and clothing to survive the cold winter”，Sales and marketing expenses in the first quarter were 1.4 billion yuan，Down 38% year-on-year；Product development cost is 1.7 billion yuan，Down 33% year-on-year。“The company takes measures to protect the rights and interests of customers as soon as possible，And adjust business strategies to cope with the epidemic。With strong capital reserves，We are fully prepared，In a favorable position for industry recovery。" Ctrip CEO Sun Jie said。

Reduce costs，Transformation and change have become a top priority for 188bet Live Casino companies，Tongcheng Yilong announces brand upgrade，Focus on younger consumer groups，And further penetrate the market to obtain customers，Competing for customer groups in lower-tier cities。Also，The live streaming model was also quickly sought after by various companies during the epidemic。

Speed ​​up 188bet Live Casino asset construction

Looking for opportunities in crisis，The impact of the epidemic is forcing China’s 188bet Live Casino industry to continue to accelerate its online process。“The epidemic has reshuffled the entire service industry，But the epidemic will not change the trend of continuous upgrading of my country’s consumption。After being affected by the epidemic，The 188bet Live Casino industry is also reflecting: the risks of heavy asset investment offline in the past have been ruthlessly magnified during the epidemic，How to improve your competitiveness through online communication and marketing，How to expand the online space of 188bet Live Casino？How to upgrade the creation and marketing methods of 188bet Live Casino content？”Co-founder of Honeycomb Travel、CEO Chen Gang said frankly。

Today，The psychological expectations and behavioral habits of 188bet Live Casino consumers have also undergone new changes。Lei Haisu pointed out，Differences in income class and consumption expenditure structure of domestic residents，Has made 188bet Live Casino consumption demand more diversified and stratified，Tourists pay more attention to safety and convenience，Pursue higher cost performance、Travel products and services with better experience。During the epidemic，Live streaming of fast moving consumer goods is very popular，Many travel companies and travel experts have also standardized transportation bookings with a relatively high degree、Hotel Room、Scenic spot tickets and other 188bet Live Casino product elements are split and combined into travel packages、Preferential package，Strengthen online pre-sale promotion。

Ctrip’s new “Boss Live Broadcast + Hotel Pre-sale”，188bet Live Casino past two months，Grow one city in 2 days，Visited 31 cities in China，Created a sales record of over 10 million in one minute，11 live broadcasts brought nearly 400 million yuan in sales；Zhoushan Municipal People’s Government、Jingyu Lvmama Group also recently co-sponsored a live sales event。6 hours，More than 50 great value island products recommended，Multi-platform simultaneous live broadcast，Attracted more than 4 million views，90% of the products were sold out。Especially all hotels and B&Bs are on sale，Sales reached more than 9 million yuan。

“The epidemic has pulled tourists from offline to online，It also awakened the entire industry to pay attention to online assets，Online assets will play an increasingly important role in the entire 188bet Live Casino industry in the future，The construction of online assets in the 188bet Live Casino industry has become urgent。"Chen Gang said。

During epidemic prevention and control period，The cultural and 188bet Live Casino industry vigorously promotes smart 188bet Live Casino，Improving the quality of development through science and technology。Reporter learned，China 188bet Live Casino Group will fully launch digital transformation this year，Strengthening transformation and upgrading，Improving the level of smart 188bet Live Casino。In terms of accelerating the layout of online and offline integrated services，Pass before consumption、中、Later system intelligent upgrade，Provide consumers with more security、Convenient、Autonomous service。Also，The group has also further accelerated the innovation of new business formats and new models such as “188bet Live Casino+” and “+188bet Live Casino”，Try to expand cloud 188bet Live Casino、Webcast、Yunkanzhan、Online tours of scenic spots and other online products and services，Adapt to changes in consumer demand。

May 26，The Henan Provincial Department of Culture and 188bet Live Casino teamed up with Amap to conduct a smart upgrade of the “Henan 188bet Live Casino Poverty Alleviation Map”，And launched a small store glowing public welfare plan in 20 key counties for poverty alleviation。Both parties expressed，In the future, new explorations will continue in the field of new infrastructure for digital travel，Through measures such as the scenic spot big data management platform，Helps control flow in scenic spots and allow tourists to travel with peace of mind，Working with Henan to create smart 188bet Live Casino、New business card for small shop economy。

“The epidemic has brought major challenges to the global 188bet Live Casino industry。But we are encouraged by the fact that，To date we are seeing signs of stabilization or recovery in travel activity in many of the markets in which we operate，" Liang Jianzhang, Chairman of Ctrip said，“Travel activity in China market bottomed out in February，Since then, it has maintained a stable recovery trend。Last weeks，Due to our timely product innovation in response to the new needs of the epidemic，The recovery of high-star hotels significantly exceeds that of other businesses。Travel is the spiritual need of human beings，We believe，As the COVID-19 epidemic recedes，188bet Live Casino will eventually recover and reach new heights。”

*Source of this article：Economic Information Newspaper,Author: Wei Xiayi, original title:《Accelerate the construction of online assets, 188bet Live Casino companies strive to promote "digital intelligence" transformation》.