Skift Take
Single-digit growth is something China’s largest online travel company isn’t used to, but that may just happen in the fourth quarter. Growth has already softened in the third.
Growth is decelerating for Trip.com Group, with the largest online travel company in China even foreseeing the possibility of single-digit growth in the fourth quarter that would be a dubious first in its 20-year history.
Revenue rose 12 percent to $1.5 billion (RMB10.5 billion) in the third quarter over the same period in 2018. This compares with a 15 percent revenue growth seen in third quarter of 2018 over the third quarter of 2017.
The company is offering guidance of 8 to 13 percent growth in the fourth quarter. An earnings call on Thursday shows the far-reaching impact that the Hong Kong protests and “macro” events — presumably the trade war — are having on China’s outbound market.
CEO Jane Sun spoke of “slower-than-expected travel demand,” be it domestic or overseas, pointing to this year’s October holiday as the “lowest level” seen in eight years.
The Chinese travel market has shrunk 15 percent year-on-year, she said. “Outboun
