SHANGHAI, 1 November 2021: Trip.com Group, listed on both the New York and Hong Kong stock exchanges, has borrowed USD1.5 billion in a transferable term loan facility signed with financial institutions,
The facility signed last month covers three years. The proceeds borrowed will be used for the repayment of the outstanding balance of USD1.5 billion under the term loan facility the travel company entered into in July 2019.
Trip.com Group is a leading one-stop travel service provider of accommodation reservation, transportation ticketing, packaged tours and corporate travel.
Often described as “the go-to destination for travellers in China,” but through expansion and acquisitions, the company is now a major player worldwide. Founded in 1999 and listed on Nasdaq in 2003, the group operates a portfolio of brands, including Ctrip, Qunar, Trip.com and Skyscanner.
Last September, the group announced its unaudited financial results for the second quarter and first half of 2021 with the following highlights.
First half key indicators
The group’s business units show signs of resilient recovery in the Chinese domestic market.
Total net revenue increased by 86% year over year and 43% quarter over quarter, driven by the strong recovery momentum of the Chinese domestic market.
Both our domestic hotel and air-ticket revenue increased by about 150% year over year. Compared with the same pre-Covid period in 2019, domestic hotel and air ticketing reservations achieved double-digit growth in the second quarter.
Staycation travel continues to serve as a major driver of domestic recovery, with local hotel reservations growing nearly 80% versus the pre-Covid period in 2019.
Revenues from corporate travel management grew 141% year over year and 26% compared with the pre-COVID period in 2019.
