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PR Newswire

Trip.com Group Limited Reports Unaudited Second Quarter and First Half of 2023 Financial Results

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SHANGHAI, Sept. 5, 2023 /PRNewswire/ — Trip.com Group Limited (Nasdaq: TCOM; HKEX: 9961) (“Trip.com Group” or the “Company”), a leading one-stop travel service provider of accommodation reservation, transportation ticketing, packaged tours, and corporate travel management, today announced its unaudited financial results for the second quarter and first half of 2023.

Key Highlights for the Second Quarter of 2023

  • Domestic and international business continued to show robust recovery in the second quarter of 2023

– Domestic hotel bookings grew by 170% year over year and by over 60% compared to the pre-COVID level for the same period in 2019.
– Outbound hotel and air reservations recovered to over 60% of the pre-COVID level for the same period in 2019, surpassing the industry-wide recovery rate of 37% in terms of international air passenger volume for the same period.
– Air ticket bookings on the Company’s global OTA platform grew by over 120% year over year and nearly doubled compared to the pre-COVID level for the same period in 2019.

  • The Company delivered strong results in the second quarter of 2023 

– Total net revenue increased by 180% year over year and exceeded the pre-COVID level for the same period in 2019 by 29%.
– Net income for the second quarter was RMB648 million (US$91 million), which improved from RMB43 million for the same period in 2022.
– Adjusted EBITDA for the second quarter was RMB3.7 billion (US$507 million). Adjusted EBITDA margin was 33%, compared to 9% for the same period in 2022 and 31% for the previous quarter.

“During the second quarter of 2023, the demand for both domestic and international travel remained resilient.” said James Liang, Executive Chairman. “Despite limited air capacity recovery, the robust rebound of travel activities reflects travelers’ strong desire to explore the world. We remain optimistic about the enduring demand for travel and the long-term market outlook.”

“We are encouraged by our solid results in the second quarter,” said Jane Sun, Chief Executive Officer. “With the thriving market demand and our outstanding performance, we are poised to take the lead in driving the industry’s recovery and actively creating an abundance of job opportunities alongside our esteemed business partners.”

Second Quarter of 2023 Financial Results and Business Updates

The Company’s business continued to recover significantly since the pent-up demand for travel remains strong, which led to an increasing volume of travel bookings.

For the second quarter of 2023, Trip.com Group reported net revenue of RMB11.2 billion (US$1.6 billion), representing a 180% increase from the same period in 2022 and a 22% increase from the previous quarter, primarily due to the substantial recovery of travel market.

Accommodation reservation revenue for the second quarter of 2023 was RMB4.3 billion (US$591 million), representing a 216% increase from the same period in 2022 and a 23% increase from the previous quarter, primarily due to the substantial recovery of travel market.

Transportation ticketing revenue for the second quarter of 2023 was RMB4.8 billion (US$664 million), representing a 173% increase from the same period in 2022 and a 16% increase from the previous quarter, primarily due to the substantial recovery of travel market.

Packaged-tour revenue for the second quarter of 2023 was RMB722 million (US$100 million), representing a 492% increase from the same period in 2022 and an 87% increase from the previous quarter, primarily due to the substantial recovery of travel market.

Corporate travel revenue for the second quarter of 2023 was RMB584 million (US$81 million), representing a 178% increase from the same period in 2022 and a 31% increase from the previous quarter, primarily due to the substantial recovery of travel market.

Cost of revenue for the second quarter of 2023 increased by 106% to RMB2.0 billion (US$277 million) from the same period in 2022 and increased by 23% from the previous quarter, primarily due to the substantial recovery of travel market. Cost of revenue as a percentage of net revenue was 18% for the second quarter of 2023.

Product development expenses for the second quarter of 2023 increased by 67% to RMB3.0 billion (US$407 million) from the same period in 2022 and increased by 10% from the previous quarter, primarily due to an increase in product development personnel related expenses. Product development expenses as a percentage of net revenue was 26% for the second quarter of 2023.

Sales and marketing expenses for the second quarter of 2023 increased by 185% to RMB2.4 billion (US$325 million) from the same period in 2022 and increased by 34% from the previous quarter, primarily due to an increase in expenses relating to sales and marketing promotion activities. Sales and marketing expenses as a percentage of net revenue was 21% for the second quarter of 2023.

General and administrative expenses for the second quarter of 2023 increased by 58% to RMB955 million (US$132 million) from the same period in 2022 primarily due to an increase in general and administrative personnel related expenses and increased by 7% from the previous quarter. General and administrative expenses as a percentage of net revenue was 8% for the second quarter of 2023.

Income tax expense for the second quarter of 2023 was RMB562 million (US$77 million), compared to RMB173 million for the same period in 2022 and RMB341 million for the previous quarter. The change in Trip.com Group’s effective tax rate was primarily due to the combined impacts of changes in respective profitability of its subsidiaries with different tax rates, certain non-taxable income or loss resulting from the fair value changes in equity securities investments and exchangeable senior notes, and changes in valuation allowance provided for deferred tax assets.

Net income for the second quarter of 2023 was RMB648 million (US$91 million), compared to RMB43 million for the same period in 2022 and RMB3.4 billion for the previous quarter. Adjusted EBITDA for the second quarter of 2023 was RMB3.7 billion (US$507 million), compared to RMB355 million for the same period in 2022 and RMB2.8 billion for the previous quarter. Adjusted EBITDA margin was 33% for the second quarter of 2023, compared to 9% for the same period in 2022 and 31% for the previous quarter.

Net income attributable to Trip.com Group’s shareholders for the second quarter of 2023 was RMB631 million (US$89 million), compared to RMB69 million for the same period in 2022 and RMB3.4 billion for the previous quarter. Excluding share-based compensation charges, fair value changes of equity securities investments and exchangeable senior notes recorded in other income/(expense) and their tax effects, non-GAAP net income attributable to Trip.com Group’s shareholders for the second quarter of 2023 was RMB3.4 billion (US$475 million), compared to non-GAAP net loss attributable to Trip.com Group’s shareholders of RMB203 million for the same period in 2022 and non-GAAP net income attributable to Trip.com Group’s shareholders of RMB2.1 billion for the previous quarter.

Diluted earnings per ordinary share and per ADS was RMB0.94 (US$0.13) for the second quarter of 2023. Excluding share-based compensation charges, fair value changes of equity securities investments and exchangeable senior notes and their tax effects, non-GAAP diluted earnings per ordinary share and per ADS was RMB5.11 (US$0.70) for the second quarter of 2023. Each ADS currently represents one ordinary share of the Company.

As of June 30, 2023, the balance of cash and cash equivalents, restricted cash, short-term investment, held to maturity time deposit and financial products was RMB75.0 billion (US$10.3 billion).

Conference Call

Trip.com Group’s management team will host a conference call at 8:00 PM EST on September 4, 2023 (or 8:00 AM CST on September 5, 2023) following this announcement.

The conference call will be available live on Webcast and for replay at: https://investors.trip.com. The call will be archived for twelve months on our website.

All participants must pre-register to join this conference call using the Participant Registration link below:
https://register.vevent.com/register/BI90bc7b46919e4b55a896bf30b59d4a4a 

Upon registration, each participant will receive details for this conference call, including dial-in numbers and a unique access PIN. To join the conference, please dial the number provided, enter your PIN, and you will join the conference instantly.

Safe Harbor Statement

This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “may,” “will,” “expect,” “anticipate,” “future,” “intend,” “plan,” “believe,” “estimate,” “is/are likely to,” “confident” or other similar statements. Among other things, quotations from management in this press release, as well as Trip.com Group’s strategic and operational plans, contain forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of important factors could cause actual results to differ materially from those contained in any forward-looking statement. Potential risks and uncertainties include, but are not limited to, severe or prolonged downturn in the global or Chinese economy, general declines or disruptions in the travel industry, volatility in the trading price of Trip.com Group’s ADSs or shares, Trip.com Group’s reliance on its relationships and contractual arrangements with travel suppliers and strategic alliances, failure to compete against new and existing competitors, failure to successfully manage current growth and potential future growth, risks associated with any strategic investments or acquisitions, seasonality in the travel industry in the relevant jurisdictions where Trip.com Group operates, failure to successfully develop Trip.com Group’s existing or future business lines, damage to or failure of Trip.com Group’s infrastructure and technology, loss of services of Trip.com Group’s key executives, the impact of COVID-19 to Trip.com Group’s business operations, adverse changes in economic and political policies of the PRC government, inflation in China, risks and uncertainties associated with PRC laws and regulations with respect to the ownership structure of the variable interest entities and the contractual arrangements among Trip.com Group, the variable interest entities and their shareholders, and other risks outlined in Trip.com Group’s filings with the U.S. Securities and Exchange Commission or the Stock Exchange of Hong Kong Limited. All information provided in this press release and in the attachments is as of the date of the issuance, and Trip.com Group does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

About Non-GAAP Financial Measures

To supplement Trip.com Group’s consolidated financial statements, which are prepared and presented in accordance with United States Generally Accepted Accounting Principles (“GAAP”), Trip.com Group uses non-GAAP financial information related to adjusted net income attributable to Trip.com Group Limited, adjusted EBITDA, adjusted EBITDA margin, and adjusted diluted earnings per ordinary share and per ADS, each of which is adjusted from the most comparable GAAP result to exclude the share-based compensation charges that are not tax deductible, fair value changes of equity securities investments and exchangeable senior notes, net of tax, and other applicable items. Trip.com Group’s management believes the non-GAAP financial measures facilitate better understanding of operating results from quarter to quarter and provide management with a better capability to plan and forecast future periods.

Non-GAAP information is not prepared in accordance with GAAP, does not have a standardized meaning under GAAP, and may be different from non-GAAP methods of accounting and reporting used by other companies. The presentation of this additional information should not be considered a substitute for GAAP results. A limitation of using non-GAAP financial measures is that non-GAAP measures exclude share-based compensation charges, fair value changes of equity securities investments and exchangeable senior notes and their tax effects that have been and will continue to be significant recurring expenses in Trip.com Group’s business for the foreseeable future.

Reconciliations of Trip.com Group’s non-GAAP financial data to the most comparable GAAP data included in the consolidated statement of operations are included at the end of this press release.

About Trip.com Group Limited

Trip.com Group Limited (Nasdaq: TCOM; HKEX: 9961) is a leading global one-stop travel platform, integrating a comprehensive suite of travel products and services and differentiated travel content. It is the go-to destination for travelers in China, and increasingly for travelers around the world, to explore travel, get inspired, make informed and cost-effective travel bookings, enjoy hassle-free on-the-go support, and share travel experience. Founded in 1999 and listed on Nasdaq in 2003 and HKEX in 2021, the Company currently operates under a portfolio of brands, including Ctrip, Qunar, Trip.com, and Skyscanner, with the mission “to pursue the perfect trip for a better world.”

For further information, please contact:

Investor Relations

Trip.com Group Limited
Tel: +86 (21) 3406-4880 X 12229
Email: iremail@trip.com

Trip.com Group Limited

Unaudited Consolidated Balance Sheets

(In millions, except share and per share data)

December 31, 2022

June 30, 2023

June 30, 2023

RMB (million)

RMB (million)

USD (million)

ASSETS

Current assets:

Cash, cash equivalents and restricted cash

18,487

36,843

5,080

Short-term investments

25,545

18,532

2,556

Accounts receivable, net 

5,486

10,689

1,474

Prepayments and other current assets 

11,917

17,028

2,348

Total current assets

61,435

83,092

11,458

Property, equipment and software

5,204

5,192

716

Intangible assets and land use rights

12,825

12,738

1,757

Right-of-use asset

819

715

99

Investments (Includes held to maturity time deposit and
financial products of RMB15,527 million and RMB19,581
million as of December 31,2022 and June 30, 2023,
respectively)

50,177

54,757

7,551

Goodwill

59,337

59,382

8,189

Other long-term assets

570

624

86

Deferred tax asset

1,324

1,716

237

Total assets

191,691

218,216

30,093

LIABILITIES

Current liabilities:

Short-term debt and current portion of long-term debt

32,674

32,414

4,470

Accounts payable

7,569

14,729

2,031

Advances from customers

8,278

13,505

1,862

Other current liabilities

12,718

15,029

2,073

Total current liabilities

61,239

75,677

10,436

Deferred tax liability

3,487

3,647

503

Long-term debt

13,177

19,697

2,716

Long-term lease liability

534

484

67

Other long-term liabilities

235

310

43

Total liabilities

78,672

99,815

13,765

SHAREHOLDERS’ EQUITY

Total Trip.com Group Limited shareholders’ equity

112,283

117,649

16,224

Non-controlling interests

736

752

104

Total shareholders’ equity

113,019

118,401

16,328

Total liabilities and shareholders’ equity

191,691

218,216

30,093

Trip.com Group Limited

Unaudited Consolidated Statements of Income/(Loss)

(In millions, except share and per share data)

Three Months Ended

Six Months Ended

June 30, 2022

March 31, 2023

June 30, 2023

June 30, 2023

June 30, 2022

June 30, 2023

June 30, 2023

RMB (million)

RMB (million)

RMB (million)

USD (million)

RMB (million)

RMB (million)

USD (million)

Revenue:

Accommodation reservation 

1,357

3,480

4,285

591

2,807

7,765

1,071

Transportation ticketing 

1,763

4,156

4,814

664

3,426

8,970

1,237

Packaged-tour 

122

386

722

100

246

1,108

153

Corporate travel

210

445

584

81

432

1,029

142

Others

564

744

857

118

1,216

1,601

221

Total revenue

4,016

9,211

11,262

1,554

8,127

20,473

2,824

Less: Sales tax and surcharges

(5)

(13)

(15)

(2)

(7)

(28)

(4)

Net revenue

4,011

9,198

11,247

1,552

8,120

20,445

2,820

Cost of revenue

(976)

(1,637)

(2,007)

(277)

(2,043)

(3,644)

(502)

Gross profit

3,035

7,561

9,240

1,275

6,077

16,801

2,318

Operating expenses:

Product development *

(1,772)

(2,674)

(2,953)

(407)

(3,746)

(5,627)

(776)

Sales and marketing *

(826)

(1,755)

(2,355)

(325)

(1,669)

(4,110)

(567)

General and administrative *

(604)

(891)

(955)

(132)

(1,188)

(1,846)

(255)

Total operating expenses

(3,202)

(5,320)

(6,263)

(864)

(6,603)

(11,583)

(1,598)

(Loss)/income from operations

(167)

2,241

2,977

411

(526)

5,218

720

Interest income 

544

441

513

71

1,135

954

132

Interest expense

(351)

(486)

(555)

(77)

(692)

(1,041)

(144)

Other income/(expense)

469

1,652

(1,961)

(270)

(238)

(309)

(43)

Income/(loss) before income
tax expense and equity in
income of affiliates

495

3,848

974

135

(321)

4,822

665

Income tax expense

(173)

(341)

(562)

(77)

(159)

(903)

(124)

Equity in (loss)/gain of affiliates

(279)

(133)

236

33

(478)

103

14

Net income/(loss)

43

3,374

648

91

(958)

4,022

555

Net loss/(income) attributable to non-
controlling interests

26

1

(17)

(2)

38

(16)

(2)

Net income/(loss) attributable
to Trip.com Group Limited

69

3,375

631

89

(920)

4,006

553

Earnings/(losses) per ordinary share 

– Basic

0.10

5.18

0.97

0.13

(1.42)

6.14

0.85

– Diluted

0.10

5.02

0.94

0.13

(1.42)

5.98

0.82

Earnings/(losses) per ADS 

– Basic

0.10

5.18

0.97

0.13

(1.42)

6.14

0.85

– Diluted

0.10

5.02

0.94

0.13

(1.42)

5.98

0.82

Weighted average ordinary shares outstanding 

– Basic

647,866,001

651,849,468

653,392,956

653,392,956

647,843,829

652,625,256

652,625,256

– Diluted

650,906,465

672,743,729

671,942,381

671,942,381

647,843,829

670,838,392

670,838,392

* Share-based compensation included in Operating expenses above is as follows:

  Product development 

146

179

234

32

253

413

57

  Sales and marketing 

28

31

44

6

46

75

10

  General and administrative 

130

168

219

30

228

387

53

Trip.com Group Limited

Unaudited Reconciliation of  GAAP and Non-GAAP Results

(In millions, except %, share and per share data)

Three Months Ended

Six Months Ended

June 30, 2022

March 31, 2023

June 30, 2023

June 30, 2023

June 30, 2022

June 30, 2023

June 30, 2023

RMB (million)

RMB (million)

RMB (million)

USD (million)

RMB (million)

RMB (million)

USD (million)

Net income/(loss)

43

3,374

648

91

(958)

4,022

555

Less: Interest income

(544)

(441)

(513)

(71)

(1,135)

(954)

(132)

Add: Interest expense

351

486

555

77

692

1,041

144

Add: Other (income)/expense

(469)

(1,652)

1,961

270

238

309

43

Add: Income tax expense

173

341

562

77

159

903

124

Add: Equity in loss/(income) of affiliates

279

133

(236)

(33)

478

(103)

(14)

(Loss)/income from operations

(167)

2,241

2,977

411

(526)

5,218

720

Add: Share-based compensation

304

378

497

68

527

875

120

Add: Depreciation and amortization

218

201

204

28

445

405

56

Adjusted EBITDA

355

2,820

3,678

507

446

6,498

896

Adjusted EBITDA margin

9 %

31 %

33 %

33 %

5 %

32 %

32 %

Net income/(loss) attributable to Trip.com Group Limited

69

3,375

631

89

(920)

4,006

553

Add: Share-based compensation

304

378

497

68

527

875

120

Add: (Gain)/loss from fair value changes of equity securities
investments and exchangeable senior notes

(668)

(1,648)

2,351

324

117

703

97

Add: Tax effects on fair value changes of equity securities
investments and exchangeable senior notes

92

(40)

(45)

(6)

37

(85)

(12)

Non-GAAP net (loss)/income attributable to Trip.com Group
Limited

(203)

2,065

3,434

475

(239)

5,499

758

Weighted average ordinary shares outstanding-
 Diluted-non GAAP 

647,866,001

672,743,729

672,031,445

672,031,445

647,843,829

670,838,392

670,838,392

Non-GAAP Diluted (losses)/income per share 

(0.31)

3.07

5.11

0.70

(0.37)

8.20

1.13

Non-GAAP Diluted (losses)/income per ADS 

(0.31)

3.07

5.11

0.70

(0.37)

8.20

1.13

Notes for all the condensed consolidated financial schedules presented:

Note 1: The conversion of Renminbi (RMB) into U.S. dollars (USD) is based on the certified exchange rate of USD1.00=RMB7.2513 on June 30, 2023 published by the Federal Reserve Board.
PR Newswire

Global Times: Come and experience: Arab diplomats, officials explore Chinese modernization practices in dynamic, inclusive Shanghai

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BEIJING, Aug. 5, 2023 /PRNewswire/ — Tamer M.A. Shehab, an official from the Palestinian Ministry of Foreign Affairs, experienced being a “pilot” during his recent trip to Shanghai.

At a local exhibition center of the G60 Science & Technology Innovation Valley (G60 valley), Shehab sat in a flight simulator of a passenger aircraft. He saw the vast blue sky through the windows on each side of the simulator.

The simulator was made by a Shanghai-based tech company, which also produces flight simulator equipment for China’s self-developed large passenger aircraft C919. After exiting the simulator, Shehab asked the exhibition center for information on the latest scientific and technological achievements of the G60 valley in the field of aerospace.

“They [the achievements] are the future,” he said.

The G60 valley in East China, containing Shanghai and its eight surrounding cities, is one of the country’s most urbanized economic belts and home to tens of thousands of innovative high-tech entities. The valley’s exhibition center in a Shanghai suburb that Shehab visited is a must-see destination for many foreign officials and scholars who try to explore the experiences of the Chinese path to modernization in Shanghai.

The G60 valley showcases the latest technological developments in China, and supports sustainable economic development, said Iyad Zoukar, professor and deputy director of the Syrian Diplomatic Institute at Syria’s Ministry of Foreign Affairs and Expatriates.

“The innovative spirit and cutting-edge technologies showcased at the G60 valley were truly impressive,” Zoukar told the Global Times.

“It was fascinating to witness firsthand advancements in various fields there, such as in renewable energy, electric technology, and silicon chip manufacturing,” he recalled.

Charming Metropolise

Zoukar and Shehab are among the delegation of officials who visited Shanghai early this summer under the “Seminar for Arab Officials by the China-Arab Research Center on Reform and Development (CARC)” or the “Seminar for Arab Diplomats in China by the CARC” programs.

The CARC is sponsored by the Ministry of Foreign Affairs, the Ministry of Education, and the Shanghai Municipal Government, and is hosted by the Shanghai International Studies University.

Starting in 2017, the two programs hold several seminars almost every year, welcoming Arab officials or Arab diplomats in China to visit Shanghai and its environs. The seminars also include exchanges and discussions on practical cases about Chinese path to modernization, advanced development concepts, as well as policies on China’s ethnic and religious policies.

Zoukar attended the 13th Seminar for Arab Officials held in early June, traveling over 4,000 miles from Syria to Shanghai.

“I saw this as a chance to learn from China’s successful experience in reform and sustainable development, and explore ways to apply those lessons to benefit Syria’s development,” he told the Global Times.

Normally, Shanghai impresses newcomers at first sight with its dense, modern neon-lit skyscrapers. But the city is much more than skyscrapers. During their period in Shanghai, the Arab officials walked through the city and took a closer look at its openness, diversity, and the excellent combination of modernity and tradition.

Ziad Zaitoun, an economy, commerce and finance official at Syrian Embassy in China, participated in the “Seminar for Arab Diplomats in China by the CARC” program in Shanghai between June 12 and 16. He recalled his exciting visit to Shanghai’s Yangshan Port during the seminar, the world’s largest automated container port.

“We were amazed by the sheer size and capacity of the port, witnessing massive container ships being loaded and unloaded with precision,” Zaitoun told the Global Times.

The Yangshan Port is renowned for its large-scale operations and its role as a major global trade hub, Zaitoun said. “Exploring the port offered us insights into the impressive port infrastructure and efficient marine logistics with cutting-edge AI application,” he noted.

Zoukar also mentioned cultural and religious destinations he visited in Shanghai. He said the 400-year-old Yuyuan Garden, a historical and cultural landmark in the city downtown, left a lasting impression on him. “Exploring the beautiful landscapes, elegant pavilions, and intricate rockeries within the garden provided a glimpse into China’s rich cultural heritage,” he said. “It was a remarkable opportunity to immerse myself in the local culture and appreciate the beauty of traditional Chinese gardens.”

The visit to Xiaotaoyuan Mosque was also a memorable experience to Zoukar. “As a symbol of religious diversity and cultural coexistence, the mosque showcased the social and historical aspects of Shanghai,” he told the Global Times.

“The Xiaotaoyuan Mosque served as a testament to the importance of promoting mutual understanding and respect among diverse communities,” said Zoukar. “It was inspiring to witness the peaceful coexistence of different religions in the city and learn about China’s policies on nationalities and religions.”

An effective model

In the process of realizing modernization, China has achieved two miracles: Rapid economic development and long-term social stability, said Wang Guangda, secretary-general of the CARC.

“For countries that want to develop their economies and establish effective national governance models, the Chinese path to modernization provides successful cases and inspiring experiences,” noted Wang.

Probably, the best way to learn about the Chinese methods of achieving modernization is to come and experience the country. Zaitoun, who just ended his term as a diplomatic officer in China this summer, shared with the Global Times the key elements contributing to Chinese path to modernization as he had observed during his stay in China and his latest trip to Shanghai.

“First, China places great emphasis on economic growth and development,” said Zaitoun. He added that China has successfully implemented policies that have fostered rapid industrialization, technological innovation, and infrastructure development. “These have allowed China to become the world’s second-largest economy and lifted millions of people out of poverty.”

Second, China has prioritized the development of its human capital, Zaitoun noted.

He mentioned that China has invested heavily in education and skills training, leading to a highly skilled workforce and a thriving research and development sector. “This emphasis on human capital has contributed to China’s advancements in science, technology, and innovation.”

Zaitoun referred to the Shanghai Electric Group Company which he visited during his Shanghai trip under the CARC program. “The visit provided us with an opportunity to witness cutting-edge technologies and advancements in new energy power generation equipment,” he recalled. “One might be impressed by the company’s massive achievement in providing top quality service to one of China’s largest cities.”

The infrastructure improvement is an important aspect in the process of realizing modernization. Zoukar said that his trip to Shanghai and the city’s surroundings enabled them to better learn about China’s advanced technology and infrastructure.

“Using the high-speed train and experiencing the Shanghai subway system, I saw China’s remarkable achievements in land transportation,” Zoukar commented. “It was impressive to witness how the country’s transportation network is organized and efficiently utilized.”

All these can be valuable lessons and insights for Arab countries in developing their economies and achieving modernization. Zoukar shared several aspects he believes Arab countries can consider using China’s experience as a reference.

The aspects include further developing infrastructure networks, establishing partnerships and collaborations with other countries or regions, investing in human capital and nurturing a skilled workforce, promoting poverty alleviation and rural development, establishing effective partnerships between the government and private sector entities, exploring the possibility of establishing designated economic zones, as well as drawing inspiration from China’s advancements in technology – particularly in areas like renewable energy and electric technology.

A shared future

At the first China-Arab States Summit in December 2022, President Xi called on China and Arab states to carry forward the spirit of China-Arab friendship, and foster a closer China-Arab community of shared future.

Based on his trip to Shanghai and observations about China, Zoukar suggested that China and Arab countries should make efforts to further promote exchanges in several sectors of mutual interest, such as transportation infrastructure, energy, technology, agriculture, and tourism.

“Sharing experiences in areas such as reform, sustainable development, and modernization can benefit Arab countries,” said Zoukar. “China can provide insights and expertise to Arab officials, helping them to adapt and implement successful Chinese practices in their respective countries.”

China’s development concept provides a new path for Arab countries to achieve modernization, said Moroccan diplomat Abdelrhani Charfi, who also participated in the CARC’s program in Shanghai.

“The construction of a China-Arab community of shared future in the new era is a joint exploration of modernization processes by China and Arab countries, which will serve as an example of South-South cooperation for developing countries,” he said.

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Conversation with Jane | Spain Welcome Travellers to Explore Off-The-Beaten-Path

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Through the “Conversation with Jane” series, Trip.com Group CEO Jane Sun will engage leaders and individuals from diverse backgrounds and industries – with one goal in mind: an open discussion on the most trending topics.

MADRID, July 19, 2023 /PRNewswire/ — In this edition, the focus is on tourism, a topic close to Jane’s heart and one relevant to Spain’s Secretary of State for Tourism, Rosana Morillo. During their meeting in Madrid earlier this month, the two leaders exchanged views on tourism, technology, among other topics.


From “sun and beach” tourism to a quality-focused industry

Spain is one of the world’s most-visited countries in the world, according to the country’s official statistics. After the pandemic, Spain’s tourism has seen a strong rebound, with two famous destinations, Barcelona and Madrid, listed in the top five most-booked summer destinations by Trip.com’s European customers.

“The travel forecast for this summer season is spectacular,” Ms. Morillo shared with Ms. Sun. “The number of visitors has surpassed the pre-pandemic level, and most importantly, travellers are spending more on travel this summer when compared to 2019.” However, Ms. Morillo added that the quantity of visitors isn’t their only focus. Currently, Spain’s tourism strategy has evolved from “mass, sun and beach” tourism to sustainable and quality tourism.

“Spain has a diverse range of landscapes and culture. While we have well-established destinations, we need to focus not just on increasing the number of visitors to these places but also on improving the quality of their experience. We should also aim to attract more travellers to explore off-the-beaten-path destinations,” said Ms. Morillo.

Having visited various parts of Spain, Ms. Sun agreed that the country has many hidden gems waiting to be discovered, adding that Trip.com Group has been preparing for the return of Chinese travellers to Spain since the outbreak of the pandemic. The online travel service provider has launched successful campaigns to keep customers interested in the country through content marketing strategies. These include influencer campaigns on its travel content platform, launching an official StarHub account for Spain, and creating curated lists for customers to explore travel inspiration in Spain.

While Spain has always been one of the most popular destinations for Chinese travellers, has there been a shift in their travel patterns or preferences in recent years?

Ms. Sun said, “The new generation of Chinese travellers seeks authentic and unique experiences in Spain. We provide them with the most exciting travel inspiration and reliable recommendations through our advanced technology and marketing capacity.”


Technology reshaping the future of tourism

Technology is revolutionising the tourism industry, and Trip.com Group is leading the way by using cutting-edge AI technology to enhance the customer experience. In 2016, the company pioneered the widespread adoption of AI technology for customer service, and over 75% of flight and hotel-related issues raised by customers are resolved through the AI chatbot today, without the need for these customers to speak to a customer service agent.

Earlier this year, Trip.com launched “TripGen”, a real-time AI travel assistant that provides users with instant suggestions on pre-trip decisions and in-trip arrangements. This innovative tool has made the entire travel process more enjoyable and stress-free.

Ms. Morillo agrees that technology is transforming the tourism industry in all aspects, not only from the stages of pre-booking, booking, and customer service, but it is also reshaping the ways of talent training and destination development.

“Technology will not only change the way people buy products but also the future of destinations. For example, we have seen many cities implementing technologies to direct the flow of passengers and improve mobility in the city, which will ultimately enhance the travel experience,” Ms. Morillo commented.


Women are the backbone of an organisation

Ms. Morillo assumed the State Secretary for Tourism role in December 2022, following a successful career spanning multiple sectors, including software, investment banking, and hospitality. “I think everybody should work in the public sector at some point in his or her life, because you can give back to the society and make a difference,” said Ms. Morillo.

Ms. Morillo is a strong advocate for gender equality in the workplace and encourages more women to take up leadership positions. “While the gender ratio in middle management teams in Spain is equal, it becomes increasingly unbalanced at higher management levels. This needs to change,” Ms. Morillo shared.

The Spanish government recently approved a draft Equal Representation Law that aims to promote more equal representation of women and men in politics, business, and other spheres of public life. While Ms. Morillo views this as a positive step, she believes that more needs to be done to create a truly gender-inclusive workplace.

Ms. Sun agrees and believes that striving for equal gender representation in senior management teams is the right thing to do and will lead to more rational and considerate decision-making for governments, companies, and organisations.

“With more than half of Trip.com Group employees and one-third of middle managers being female, women are the backbone of our business,” said Ms. Sun. “I look forward to further enhancing the figure in the near future.”

During their discussion, Ms. Sun also shared with Ms. Morillo’s the Group’s recently launched Childcare Subsidy programme. Under this new scheme, full-time employees with newborn children after 1 July 2023 will receive a subsidy of RMB 10,000 for each child on their first, second, third, fourth and fifth birthdays. The Group plans to invest RMB 1 billion as subsidies to support its employees in family planning and promote working families.

Over the years, Trip.com Group has introduced several family-friendly policies, including hybrid work and assisted reproduction benefits.

“As we have always said, our employees are our greatest asset. The launch of this new initiative is a testament to our commitment to supporting our employees to achieve their family and career goals,” said Ms. Sun. “Going forward, we will continue to create family-friendly workplaces across our various offices.”

About Trip.com Group

Trip.com Group is a leading global travel service provider comprising of Trip.com, Ctrip, Skyscanner and Qunar. Across its platforms, Trip.com Group helps travellers around the world make informed and cost-effective bookings for travel products and services and enables partners to connect their offerings with users through the aggregation of comprehensive travel-related content and resources, and an advanced transaction platform consisting of apps, websites and 24/7 customer service centres. Founded in 1999 and listed on NASDAQ in 2003 and HKEX in 2021, Trip.com Group has become one of the best-known travel groups in the world, with the mission “to pursue the perfect trip for a better world”. Find out more about Trip.com Group here: group.trip.com.

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Sojern Acquires VenueLytics to Bolster its Platform for the Hospitality Industry

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SAN FRANCISCO, July 11, 2023 /PRNewswire/ — Sojern, the leading travel marketing platform, today announced the acquisition of VenueLytics, the hospitality industry’s most integrated guest experience platform serving independent hotels, resorts, chains and casinos. Sojern will incorporate VenueLytics’ capabilities as an extension of the Sojern Travel Marketing Platform.

Logo, no tagline
Logo, no tagline

Sojern has long been a direct bookings driver for hotels—providing comprehensive digital advertising solutions that help travel marketers find, attract and convert new travelers, re-activate existing guests to build loyalty, and maximize net revenue per available room (RevPAR). This acquisition expands Sojern’s Travel Marketing Platform to engage across the entire guest journey with VenueLytics’ cutting-edge technology that includes an Artificial Intelligence (AI)-powered virtual concierge, real-time guest feedback and digital reputation management tools, and a guest marketing suite for email and text promotions. VenueLytics’ solutions help marketing, operations, and front-desk teams better serve their guests with less resources required, drive incremental revenue, and maximize profit. With these additional features, Sojern can now help marketers find, attract, convert and engage travelers throughout their journey.

“This is an exciting step forward for our customers as we can empower hoteliers beyond advertising alone, expanding our offerings to be a true end-to-end marketing platform,” said Mark Rabe, CEO of Sojern. “We are dedicated to providing the travel industry with innovative solutions that leverage data, AI and technology to drive results. VenueLytics’ expertise in analyzing, unifying and activating data from various hotel management and marketing systems will allow Sojern to deepen our relationships in hospitality. This addition helps us to advance toward becoming the travel marketing platform.”

One of VenueLytics key customers is Grupo Posadas, the largest hotel company in Mexico with over 180 resorts and hotels. Posadas Director of Quality, Standards and Innovation, Leslie Gomez, commented, “By using VenueLytics AI Concierge throughout the guest journey, Posadas has increased Ancillary Revenue with more than 53K requests over the last 9 months. Our guests satisfaction improved more than 19 percentage points (pp) in NPS (Net Promoter Score) from the guests who had contact with our digital concierge experience.”

By extending its platform with VenueLytics, Sojern can now support hotel marketers with an all-in-one platform that drives guests directly to a property, enables upsell mid-stay, remarketing post-stay, and builds long term loyalty. In addition to the multichannel offerings of Sojern, VenueLytics provides the ability to engage customers in an expanded multichannel network that includes SMS, Email, WiFi, WhatsApp, Facebook Messenger, ChatBot, Alexa, Google Home and other social media and third party apps. This allows Sojern to expand into generative AI with cutting edge tools to drive and optimize booking value for hotels.

VenueLytics Co-Founder and CEO Baskar Manivannan commented, “We have partnered with Sojern for more than a year, and joining forces will strengthen our customer base and reputation while enabling us to offer the hospitality and travel industry a wider and timely range of solutions. With AI, data analytics and personalized multichannel guest engagement at the backbone of what we do, we have a shared vision to empower hotels around the world to drive profitability, and truly elevate guest experience and satisfaction.”

Last month, Sojern announced the latest version of its Sojern Travel Marketing Platform with enhanced AI powered audiences. With this acquisition, it further demonstrates the company’s rigor and success at integrating new technology and scaling it globally. Terms of the deal were not disclosed, but Sojern has reported previously that it is profitable, has driven more than $10 billion in global travel bookings, and serves over 10,000 customers annually around the world leveraging its long-standing AI capabilities.

The acquisition will deepen Sojern’s hotel expertise in North America where VenueLytics has been focused. VenueLytics will now be able to support the global hospitality industry as an extension of the Sojern Travel Marketing Platform. To learn more about how this acquisition can benefit your travel marketing campaigns, please visit Sojern’s website.

About Sojern
Sojern is a leading digital marketing platform built for travel marketers. Powered by artificial intelligence and traveler intent data, Sojern provides multichannel marketing solutions to drive direct demand. More than 10,000 hotels, attractions, tourism boards, and travel marketers rely on Sojern annually to engage and convert travelers around the world.

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Trip.com Group to Hold Annual General Meeting on June 30, 2023

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SHANGHAI, May 30, 2023 /PRNewswire/ — Trip.com Group Limited (Nasdaq: TCOM; HKEX: 9961) (“Trip.com Group” or the “Company”), a leading one-stop travel service provider of accommodation reservation, transportation ticketing, packaged tours and corporate travel management, today announced that it will hold an annual general meeting of shareholders (the “AGM”) at 2:00 p.m. on June 30, 2023 (Hong Kong time) at the address of Building 16, 968 Jin Zhong Road, Shanghai, People’s Republic of China.

Holders of record of ordinary shares of the Company at the close of business on June 1, 2023 (Hong Kong time) are entitled to notice of, and to vote at, the annual general meeting or any adjournment or postponement thereof. Holders of the Company’s American depositary shares (“ADSs”) as of the close of business on June 1, 2023 (New York time) who wish to exercise their voting rights for the underlying ordinary shares represented by their ADSs must act through the depositary of the Company’s ADS program, The Bank of New York Mellon. The purpose of the annual general meeting is for the Company’s shareholders to consider, and if thought fit, pass and approve the amendment and restatement of the Company’s Third Amended and Restated Memorandum and Articles of Association by the deletion in their entirety and by the substitution in their place of the Fourth Amended and Restated Memorandum and Articles of Association.

The notice of the annual general meeting is available on the Investor Relations section of the Company’s website at http://investors.trip.com/, as well as on the website of the U.S. Securities and Exchange Commission (the “SEC”) at http://www.sec.gov/ and the website of The Stock Exchange of Hong Kong Limited (the “HKEX”) at http://www.hkexnews.hk. Trip.com Group has filed its annual report on Form 20-F, including its audited financial statements for the fiscal year ended December 31, 2022, with the SEC and published its Hong Kong annual report pursuant to the Rules Governing the Listing of Securities on the HKEX. Trip.com Group’s annual report for the fiscal year ended December 31, 2022 can be accessed on the above-mentioned websites. Shareholders and ADS holders may request a hard copy of the Company’s annual report, free of charge, by contacting Investors Relations Department, Trip.com Group Limited, Building 16, 968 Jin Zhong Road, Shanghai 200335, People’s Republic of China, or by email to iremail@trip.com.

About Trip.com Group Limited

Trip.com Group Limited (Nasdaq: TCOM; HKEX: 9961) is a leading global one-stop travel platform, integrating a comprehensive suite of travel products and services and differentiated travel content. It is the go-to destination for travelers in China, and increasingly for travelers around the world, to explore travel, get inspired, make informed and cost-effective travel bookings, enjoy hassle-free on-the-go support, and share travel experience. Founded in 1999 and listed on Nasdaq in 2003 and HKEX in 2021, the Company currently operates under a portfolio of brands, including Ctrip, Qunar, Trip.com, and Skyscanner, with the mission “to pursue the perfect trip for a better world.”

Safe Harbor Statement

This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “may,” “will,” “expect,” “anticipate,” “future,” “intend,” “plan,” “believe,” “estimate,” “is/are likely to,” “confident” or other similar statements. Forward-looking statements involve inherent risks and uncertainties. A number of important factors could cause actual results to differ materially from those contained in any forward-looking statement. Further information regarding these factors and other risks and uncertainties is included in Trip.com Group’s filings with the U.S. Securities and Exchange Commission or the Stock Exchange of Hong Kong Limited. All information provided in this press release and in the attachments is as of the date of the issuance, and Trip.com Group does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

For further information, please contact:

Investor Relations
Trip.com Group Limited
Tel: (+86) 21 3406 4880 X 12229
Email: iremail@trip.com

PR Newswire

Tuniu to Report First Quarter 2023 Financial Results on June 9, 2023

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NANJING, China, May 25, 2023 /PRNewswire/ — Tuniu Corporation (NASDAQ:TOUR) (“Tuniu” or the “Company”), a leading online leisure travel company in China, today announced that it plans to release its unaudited financial results for the first quarter ended March 31, 2023, before the market opens on June 9, 2023.

Tuniu’s management will hold an earnings conference call at 8:00 am U.S. Eastern Time on June 9, 2023 (8:00 pm Beijing/Hong Kong Time on June 9, 2023).

Listeners may access the call by dialing the following numbers:

US

1-888-346-8982

Hong Kong

852-301-84992

Mainland China

4001-201203

International

1-412-902-4272

Conference ID: Tuniu 1Q 2023 Earnings Conference Call            

A telephone replay will be available one hour after the end of the conference call through June 16, 2023. The dial-in details are as follows:

US

1-877-344-7529

International

1-412-317-0088

Replay Access Code: 8229010

Additionally, a live and archived webcast of this conference call will be available at http://ir.tuniu.com/.

About Tuniu Corporation

Tuniu (Nasdaq:TOUR) is a leading online leisure travel company in China that offers integrated travel service with a large selection of packaged tours, including organized and self-guided tours, as well as travel-related services for leisure travelers through its website tuniu.com and mobile platform. Tuniu provides one-stop leisure travel solutions and a compelling customer experience through its online platform and offline service network, including a dedicated team of professional customer service representatives, 24/7 call centers, extensive networks of offline retail stores and self-operated local tour operators. For more information, please visit http://ir.tuniu.com.

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[2023 Daka China] Foreign Internet Influencers Gain Valuable Understanding of Zhengzhou’s High-quality Industrial Development

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BEIJING, May 16, 2023 /PRNewswire/ — A report from CRIOnline:

From May 11 to 12, a group of foreign internet influencers hailing from Brazil, Egypt, Mexico, Romania, and the Republic of Korea, along with multilingual hosts from China embarked on a trip to Zhengzhou, a city in Henan Province. During their stay, they took a dive into scientific innovation as well as equipment manufacturing industries of the region.

Foreign internet influencers and multilingual hosts make their way to Kunpeng Software Town, photo by Jia Qinqin
Foreign internet influencers and multilingual hosts make their way to Kunpeng Software Town, photo by Jia Qinqin

Currently, the digital economy has arisen as the fresh impetus for global economic development. While exploring Kunpeng Software Town in Zhengzhou, foreign internet influencer Cynthia Midori Yamauchi from Brazil lauded the city for its deliberate plans to cater to the needs of talented individuals in the software industry, encompassing their work, daily lives, leisure activities, education for children, and healthcare services. Such measures make the city full of potential for future development.

Innovation is the driving force behind development. Foreign internet influencers and multilingual hosts were awestruck by the 135-meter-long and over 1,900-ton weight tunnel boring machine at the workshop of China Railway Engineering Equipment Group Co., Ltd. The Greek-speaking host, Wu Yawen, noted that Zhengzhou is a model of manufacturing development in China. Moreover, it serves as a representation of the achievements made on the Chinese path to modernization in Zhengzhou.

When contemplating the future landscape of mobility and intelligent transportation, Yutong Group’s “Xiaoyu,” the L4 intelligent micro-mobility bus may provide a viable solution. “Xiaoyu” is equipped with a variety of intelligent technologies such as 360° all-weather environmental sensing, data interaction, and intelligent decision-making. “The combination of modern technology and smart city solutions in Zhengzhou is amazing,” said Viacheslav Shchekin, a foreign internet influencer from Russia.

Zhengzhou boasts a digital economy surpassing CNY 500 billion. The China Railway Engineering Equipment Group has received an excess of 1,500 tunnel boring machine orders, while CHINA RAILWAY Express Zhongyu Train has connected over 140 cities across the globe. Besides, the city has established a two-hour high-speed railway network and a two-hour aviation network. The above statistics, alongside other numerical data and examples have showcased the high-quality industrial development in Zhengzhou.

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Hainan: From a southern island to a Free Trade Port

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BEIJING , April 13, 2023 /PRNewswire/ — A news report from China.org.cn on Hainan Free Trade Port:

“The spring breeze brushes through Hainan Island.” “Flowers and fruits blossom everywhere”… These refreshing lyrics from the iconic song Please Come to the Ends of the Earth were sung at the 1984 Spring Festival Gala which put Hainan on the radar for the Chinese people. Back then, “spring all year round” and “fragrant flowers and sweet fruits” were the greatest merits of this island. Four years later, Hainan Province was founded and designated as a special economic zone. That’s when the change really started to happen.

2023 marks the 35th year since the establishment of the Hainan Special Economic Zone. What was previously considered “the ends of the earth” to the Chinese people is now a holiday resort destination and home to the world’s largest single duty-free complex and the only circular high-speed railway. In addition, “globalization” has also become a hallmark of Hainan: the Boao Forum for Asia is a consensus building institution permanently based in Hainan that drives cooperation and development for Asia and the world. The China International Consumer Products Expo, which has been held for three years consecutively, provides a platform for countries to share business opportunities in the Chinese market.

2023 also marks five years since the building of a free trade port with Chinese characteristics in Hainan. Since the Law of the People’s Republic of China on the Hainan Free Trade Port came into effect, the combined effect of China’s free trade port policy and the RCEP saw the piloting of CPTPP, DEPA and other international high standard economic and trade rules, culminating in a series of legal, policy and institutional measures to facilitate the port’s full opening up to the international market. At present, three “zero tariff” lists, and the 15% income tax incentives for corporations and individuals are among the over 180 policy instruments that have been rolled out in Hainan. The special administrative measures, or “negative list” for foreign investment has also been slimmed down to 27 items, the shortest in the country.

Hainan sent delegations to visit Japan, Germany, Southeast Asia and other regions to promote investment and held foreign investment symposiums for enterprises — these are some of Hainan’s practical and earnest efforts towards seeking openness and win-win cooperation.

That’s why well-known jewelry brand De Beers Forevermark only took one month to settle in Hainan. Top-tier destination for auctions and private sales Sothetby’s, United States’ General Electric, France’s Kering Group, Singapore’s leading medical group Raffles, Japan’s Lawson and other companies have also poured investment into Hainan. Furthermore, entrepreneurs from Italy, Ghana and other countries have also selected Hainan as their market-entry destination into China.

Currently, Hainan free trade port is preparing for official independent customs operations in 2025, meaning Hainan will turn into a region inside the national border but outside the customs territory of China, which will further highlight connectivity with the world and implement more liberal trade and investment policies.

For 35 years, China has been exploring and innovating in Hainan, becoming more and more open in the process. Welcome to Hainan, where the ocean is pristine and the sand is white, to take advantage of free trade and to pursue a win-win-win future for all.

China Mosaic
http://www.china.org.cn/video/node_7230027.htm

Hainan: From a southern island to a Free Trade Port
http://www.china.org.cn/video/2023-04/13/content_85228174.htm

PR Newswire

The Physical 133rd Canton Fair Prepares Worry-free Services and Cordially Invites You to Reunite in April

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GUANGZHOU, China, Feb. 17, 2023 /PRNewswire/ — The 133rd China Import and Export Fair (“Canton Fair” or “the Fair”), scheduled to open in April 2023, will fully integrate online and physical exhibitions as China’s entry policy is adjusted and opened up. Canton Fair invitation application and pre-registration for Buyer Badge have started recently to help global buyers complete attending procedures in a timely and smooth manner for joining the offline exhibition. 


The BEST platform is an online multifunctional tool, free of charge, built up by Canton Fair especially for global buyers. Global buyers can log in BEST to apply for invitation, pre-register for Buyer Badge, invite friends to the Canton Fair, search for products and exhibitors, manage personal or company information, and enjoy business travel services. The Canton Fair has optimized operating procedures of the BEST platform to improve the overall efficiency and experience of global businessmen and better support them to join the physical exhibition. 

New buyers attending the Fair for the first time can register a new account on BEST for free, and apply for an invitation after pre-register for a Buyer Badge. The process is simple, clear, convenient, and fast. After the pre-registration has been approved, buyers can pick up their badges at the registration offices of the Canton Fair Complex in Guangzhou or the Fair’s Hong Kong office with the “Return Receipt” and valid identity documents for a worry-free trade show tour. 

With the 133rd Canton Fair to take place soon, its offline exhibition will launch in 3 phases. The Canton Fair Complex’s new expansion project will also be put into use for the upcoming edition, increasing its total exhibition area to 1.5 million square meters from 1.18 million square meters. The 2023 spring Canton Fair will also optimize its exhibition categories based on new trends in international trade and the demands of global traders. With a comprehensive upgrade of exhibition scale and services, the 133rd Canton Fair will present limitless business opportunities. 

The Canton Fair looks forward to welcoming worldwide businessmen to Guangzhou, China. Please visit BEST to stay posted, and prepare for exhibition matters in advance (https://invitation.cantonfair.org.cn/BuyerUser/RegisterUser?MediaType=16).

For other inquiries, please contact: Ms. Wu, service@cantonfair.org.cn

PR Newswire

777 Travel Technology becomes “GO7” with a mission to give airlines more control and flexibility

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With 185 airline customers, over 100 employees, and 7 locations, GO7 is ready to support the industry’s big ambitions, give back control to airlines and accelerate their commercial performance.

LONDON and MIAMI and TEL AVIV, Israel, Feb. 7, 2023 /PRNewswire/ — GO7, formerly 777 Travel, has launched its new brand today as part of a broader strategy to unify its teams, processes, and corporate portfolio around its core mission to transform travel brands by putting power back into their hands. The launch of GO7 is a key milestone in a multi-year strategy of behind-the-scenes re-architecting of traditional airline solutions and the acquisitions of Air Black Box, WorldTicket and AeroCRS.

Adam Weiss, Head of Aviation Vertical, 777 Partners, said, “The GO7 brand reflects a growing recognition across the industry for greater ability and agility to innovate stagnant business models.  At its core, GO7 unencumbers airlines and travel brands from how they’ve conventionally operated.  The brand is about big, digital thinking, modularity and interoperability, and empowering airlines to open evolutionary revenue and distribution channels.” 

GO7 cements 777 Partners’ ambitious travel technology strategy, which focuses on delivering solutions that create new commerce channels for airlines and travel companies and improve next-generation retailing, distribution, interlining, and passenger connectivity.

Meir Hadassi Turner, CEO of GO7, added, “There’s more passion and desire for travel from consumers than ever before, and demand is surging from new places and new operators. GO7 is an exciting moment for us and a key milestone in our journey to help airlines and travel brands meet this demand, generate more dynamic experiences and accelerate revenue growth without adding layers of complexity,” continues Turner. “This moment also recognises our valued customers and partners who have supported this journey and will be at the centre of everything through our next chapter.”

The travel technology units within GO7 already provide solutions for over 185 network, low-cost carriers, regional airlines and rail operations globally. These include global ticketing and distribution services, enabling airlines to easily expand their reach in key and underserved markets without compromising resources or revenue quality. Other solutions include next-generation passenger service systems, loyalty and payment platforms, and interlining, baggage, and disruption solutions that make it easier to create connected journeys for customers and generate revenue efficiently across an airline’s operations. 

James Millett, Group Aviation & GO7 CMO, said, “GO7 is an exciting new brand that captures the spirit and scale of our ambition in travel technology. We’re a challenger brand built on deep travel experience, full of talented colleagues with a passion for applying cutting-edge technology to address opportunities in airlines that move the dial. GO7 is a brand platform that embodies the energy, momentum, pace and optimism of this valuable purpose and mission.”

With a leadership team rich with industry experience and passionate in its commitment to further democratise air travel and reimagine the travel experience, GO7 is poised to play a major role in industry restructuring at a time when a true transformation is essential for travel brands. GO7 is not just another travel technology company; it’s a catalyst for change and advancing the air travel industry. 

For more information about GO7, please contact Vanessa Horwell at vhorwell@thinkinkpr.com. 

About GO7 
GO7 represents a new approach to travel technology, united by a core belief to give control back to airlines and other travel operators through flexible, customer-centric technology. GO7’s suite of integrated solutions allows airlines to transform their commercial operations using modern, agile technology flexibly designed as a ‘one-stop’ or bespoke solution. GO7’s foundations are proven, with over 185 airlines globally already using GO7 for ticketing and distribution, passenger servicing, loyalty, payments, interlining, baggage management and operational consulting. Visitwww.go7.io to learn more.