The OTA giant has delivered good results.

August 20，Tongcheng Travel releases performance report for the second quarter and first half of 2024，its display，Income in the first half of 2024 is 81.11.6 billion yuan，48 year-on-year increase.8%；As of 188bet app download the second quarter of 2024，The annual per capita consumption of its users increased by 31% year-on-year.9%，And the annual per capita consumption frequency of its users will increase from 6 in the same period in 2023.6 times upgraded to 8.1 time。

As of 188bet app download the second quarter of 2024，The number of annual paying users of Tongcheng Travel reaches 2.300 million，The cumulative number of service visits per year has reached 18.600 million。

This is an optimistic picture: industry giants cover a wider range of customers and resources、Provide products and services with higher quality and price ratio，Consumer demand in the era of mass tourism，Mutual consistency achieved。

The same is true at a more macro level。Official data display，Domestic travel numbers in the first half of 2024: 27.2.5 billion，Total travel expenses of domestic tourists 2.73 trillion yuan，14 year-on-year growth respectively.3%、19.0%。

Some analysts believe，The overall growth trend of the domestic tourism market in 2024 is relatively clear，The industry scale is expected to basically return to the level of 2019。

This means，After many years of ups and downs，The domestic tourism market will face a new important historical turning point、A new beginning。

Camping trips favored by young consumer groups. Source: Photo Network

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The tourism market has recovered its basic market earlier.

Data display from market research organization Euromonitor，The global tourism market in 2023 has recovered to 98% of 2019 levels。Among them，The global online travel market is US$1,638.4 billion，Compared to 2019，Recovery rate 112%。This is the driving effect of increased online penetration on the online travel market，It also means that the circulation of various elements of global tourism has been basically smooth，And tourism consumption is on the rise。

Data is also displayed，China、The United States and Western Europe are the global online travel market concentration areas，occupies nearly 70% of the total market share，Among them, the European and American markets resumed leadership，The Chinese market follows closely。

Official data display，2023，48 domestic trips in China.9.1 billion，Total travel expenses of domestic tourists 4.91 trillion yuan，A year-on-year increase of 93 respectively.3%、140.3%。

188bet app The data from domestic and foreign OTA giants has some support.

According to the 2023 annual reports of major companies，Expedia’s total annual revenue 128.US$3.9 billion，10 year-on-year increase.05%；Booking’s full-year revenue is US$21.4 billion，25% year-on-year increase；Ctrip’s annual net operating income is 44.5 billion yuan，122% year-on-year increase；Tongcheng Travel achieved annual income of 118.9.6 billion yuan，80 year-on-year increase.7%，Adjusted net profit 21.9.9 billion yuan，Its main performance indicators achieved higher-than-expected growth。

The good trend continues to be maintained.

Tongcheng Travel cooperates with Shanxi Department of Culture and Tourism to launch the "Discover the Beauty of Shanxi" series of activities

Data from the Ministry of Culture and Tourism，This year“May Day”Total domestic tourism trips nationwide during the period 2.9.5 billion people，YoY increase of 7.6%，On a comparable basis, an increase of 28% compared with the same period in 2019.2%；The total travel expenditure of domestic tourists is 1668.900 million yuan，12 year-on-year increase.7%，An increase of 13% compared with the same period in 2019 on a comparable basis.5%。

Domestic tourism data in the first half of this year is also quite impressive，Domestic travel times 27.2.5 billion，Total travel expenses of domestic tourists 2.73 trillion yuan，14 year-on-year growth respectively.3%、19.0%。

Tongcheng Travel’s data for 188bet app download the second quarter of 2024，Provides a more direct and finer-grained correspondence。

Tongcheng Travel Financial Report Display，The revenue scale in 188bet app download the second quarter of 2024 hit a record high in single quarter revenue scale，Total income reaches 42.500 million yuan，48 year-on-year increase.1%。Adjusted net profit realized 6.600 million yuan，Adjusted net profit margin is 15.5%，Performance growth rate is higher than the industry average。

Second quarter of 2024，Tongcheng Travel’s annual service number reaches 18.600 million，Year-on-year growth of 29.9%；Transportation business income reaches 17.400 million，16 year-on-year increase.6%；Accommodation business income reaches 11.900 million，12 year-on-year increase.8%。

Tongcheng Travel adopts multiple traffic strategies，User base continues to expand

This is a typical microcosm of the trend of the domestic tourism market.

Response and boost to market trends，At the policy level，There are also foreshadowings。

Back on May 17th，National Tourism Development Conference held，This is the first important meeting held by the Party Central Committee with the theme of tourism development，Obvious meaning。The development of tourism has naturally been given more attention，The promotion of tourism consumption itself and its driving effect on the economy，Being relied on more，What will follow will be the development of context space、Correspondence in specific policy support and other aspects。

August 3，The State Council issued the "Opinions on Promoting the High-Quality Development of Service Consumption"，where“Tourism Consumption”Involving the construction of model cities、Night economy、Leisure vacation、New business development、188bet online sports betting Transportation services and many other aspects。For the supply side，Top-level policy documents will have the meaning of promotion，And then achieve“New supply promotes new consumption、New consumption pushes back new supply”'s forward loop，It also brings benefits to OTA companies。

Elong Hotel Technology Departure Wine Management Launch Ceremony Source: Elong Hotel Technology

OTA giants share the same channel with the era of mass tourism

Back to fundamentals，As a meso or micro enterprise，Its upward development context is in typical harmony with the macro trend，Every era has its typical consumption characteristics，And it is reflected in the enterprise’s input and output。

Mass tourism，is a key word for understanding Tongcheng Travel and the current trend of the vast tourism market。

It can still be understood from the logic of demand and supply in product and service transactions。

From the perspective of the general trend of social and economic development，Consumers’ income and consumption levels will maintain a progressive trend，After reaching a certain stage，There will be a relative qualitative change in consumer demand，So-called“Spiritual needs、Pursuit of a better life”Entering a new level，The basic groups of tourism are covered、Important changes have occurred in quantity，Popular demand for tourism，High frequency of tourism consumption。

At the same time，Transportation、Improvement of accommodation and other infrastructure conditions，Optimization of mobile communication facilities and sinking of information dissemination and exchange、Generalization、Convenience, etc.，And the rich diversification of tourism products，In particular, more products with better quality and price ratio are appearing，Built a new supply system，Meet the popular and diverse tourism consumption needs。

Cyclic correspondence between demand and supply，Thus forming a more popular tourism market。

Take Ctrip as an example，its financial report for the first quarter of 2024，Accommodation booking revenue in the first quarter was 4.5 billion yuan，Up 29% year-on-year，15% month-on-month increase；Transportation ticketing operating income is 5 billion yuan，Up 20% year-on-year，Up 22% month-on-month；The operating income of tourism and vacation business is 8.8.3 billion yuan，129% increase year-on-year，Up 25% month-on-month。

Accommodation、Transportation、Comprehensive improvement in tourism and vacation business，Consider the changes in the consumption environment，Behind the data is also a reflection of the resilience and potential of tourism consumption。

Traveling on the same journey is more intuitive。Its 2024 semi-annual report shows，As of June 30, 2024，its annual paying users reach 2.300 million。Its registered users living in non-first-tier cities in China account for more than 87% of the total registered users。

Tongcheng Travel is the exclusive sponsor of 2024TMEA Tencent Music Entertainment Festival

At the same time，Tongcheng Travel accommodation in 188bet app download the second quarter of 2024、In addition to the transportation business maintaining a year-on-year growth of more than 10%，Leisure vacation、Outbound tourism also grew rapidly。The financial report data shows，Second quarter of 2024，Including Black Whale members、Hotel Management、Other business income including leisure tourism reaches 5.900 million yuan，87 year-on-year increase.3%。

The "Tuniu Tourism Consumption Report for the First Half of 2024" released by Tuniu Travel Network on July 24 (referred to as the "Report")，Also provided more evidence。

"Report" display，First half of this year，Users from first-tier and new first-tier cities are still the main force in tourism consumption，The travel demand of users in third- and fourth-tier cities is rapidly released，The number of trips increased significantly compared with the same period in 2023，Among them，Kaifeng、Deyang、The number of trips by users in Ma’anshan and other places has increased by more than 2 times year-on-year。

Quality/price ratio，is one of our starting points for understanding the mass tourism market。

Under the general trend of social and economic development and consumption，Consumption levels will fluctuate，Consumption structure is graded，But the overall demand will be higher、Quality requirements will increase，That is, in the same price range，Higher quality products and services，Becoming a new pursuit on the consumer side。

Large (potential) consumer group、More high quality and price-effective products，The new supply and demand structure of the current tourism market has been formed。

To provide products and services with higher quality and price ratio，Tongcheng Travel has been involved in hotel management services、Offline travel agency、Scenic spot operation and other fields，Continuous supply chain operational efficiency。Including strategic cooperation with Capital Airport, etc.，By strengthening big data application and product innovation，Improve the quality-price ratio of travel services。

Tongcheng Travel signed a strategic cooperation agreement with Capital Airport

Tongcheng Travel Financial Report Display，As of 188bet app download the second quarter of 2024，The number of travel agency stores of Tongcheng Travel exceeds 800；As of July 31, 2024，The number of hotels opened on its eLong hotel technology platform exceeds 2,000，The number of signed hotels exceeds 3,000，Covering more than 290 cities including Beijing, Shanghai, Guangzhou and Shenzhen，and Indonesia、Japan、Malaysia、Laos and other overseas markets。You must invest to get corresponding returns，Logic、The results are self-consistent。

A detail worthy of attention is，The growth logic of Tongcheng Travel has changed from user scale growth to user value growth。

As of 188bet app download the second quarter of 2024，The annual per capita consumption of Tongcheng Travel users increased by 31% compared with the same period in 2023.9%；And the annual per capita consumption frequency of its users will increase from 6 in the same period in 2023.6 times upgraded to 8.1 time。

Increase in annual per capita consumption and consumption frequency，It has at least two meanings: the continued or expanded 188bet sports betting app download release of users’ existing needs，And the potential of tourism consumption cannot be underestimated；Enterprise products in progress、Optimization and reinforcement of service and other supply levels，Achieved better conversions。that is，Existing and potential needs and perfect and innovative supply have found more points of convergence，This is an important aspect to peek into the current situation and trend of the domestic tourism market。

This is also for the mass tourism market、High quality and price/performance ratio。

Elong Hotel Technology Meihao Wine Manager and Perlin Wine Manager are listed in the world's top 50  Source: Yilong Hotel Technology 03

“Troika”Where to run？

The growth and expansion of giant companies，All have a close relationship with its development strategy and the deep connection with the general trend of the industry。

Traveling together will lead your own future path，Set to “Troika”: The core OTA business segment continues to grow、Industrial chain business sector (Elong Hotel Technology、Travel agencies and scenic spots) achieve scale growth、International business segment explores future growth space。
From the perspective of the company’s own situation and market situation，These paths have rationality and room for imagination。

Transportation、Accommodation business is the main component of Tongcheng Travel’s core OTA business，The first half of this year accounted for about 68% of the total revenue.9%，is the main revenue，Refer to its size and growth momentum，It is still in the growth range，The aforementioned quality-price ratio、Supply chain, etc. are the logic behind it，The next exploration of user value (shown in consumption frequency、Price per customer, etc.) and user growth will bring about an increase in total business revenue。

This is also deeply related to Tongcheng travel industry chain business segment，Prosperity for all。

Hotels are one of the core traffic portals of OTAs，Also a key resource，The thickness determines the competitiveness of an OTA to a large extent。

As mentioned earlier, the number and regional coverage of Elong Hotel’s technology platform，Already on a larger scale，And the platform’s membership system“Art Dragon Club”has more than 25 million members，Already have a good basic market on both the supply and demand ends。

Eight empowerments of eLong Hotel Technology Platform

Travel agencies and scenic spots are more traditional tourism resources，But it is also an unavoidable sector for OTA to become stronger，is traffic，is a consumption transformation carrier。Travel agencies’ coverage of offline service scenarios and middle-aged and elderly customers，Complementing the young online customer flow；The scenic spot is in the upstream of the industrial chain，The volume of its resources also determines the coverage of product consumption scenarios。

Opening up industrial chain resources、Thickening and transformation，We must seek within ourselves，We must also expand outward。

The aforementioned "Report" shows，The number of outbound 188bet app download travel users in the first half of this year increased by more than three times compared with the same period last year，Among them，Nearly 75% of tourists choose outbound short-term travel。With the increase in the number of open destinations，The popularity of outbound long-term travel has increased significantly，The number of tourists increased by more than 4 times year-on-year。

Tongcheng Travel Financial Report Display，Second quarter of 2024，The average daily ticket volume of Tongcheng International Air Tickets hits a new high，A year-on-year increase of more than 160%，International hotel room nights increased by nearly 140% year-on-year。

First half of 2024，Tongcheng Travel launched the international travel booking platform HopeGoo，Providing one-stop travel services for international travelers。Air tickets currently covered、Hotel、train ticket、Tickets、Ferry ticket、Six major areas including local entertainment，And supports payment in 16 currencies around the world and multiple operating languages。

Tongcheng Travel Customer Experience Center’s first overseas stop is in Kuala Lumpur. Source: Tongcheng Travel spokesperson

The huge Chinese outbound tourism market，Including mass consumer groups are gradually replacing elite groups，Becoming the most potential consumer group and other trends，And the huge user group that the platform has gathered，It’s the same journey“Going to sea”，Establishing overseas supply chain，And together with the outbound tourist group, it also forms the basic backing for the ecological cycle effect of supply and demand。

This is a clear footnote.