Ctrip scores £1.3B in revenue for second quarter in a row, will change name to Trip.com Group

Revenue at Ctrip has jumped by a fifth for the second quarter in a row, giving it around $1.3 billion again from operations during 2019.

The China-based online travel agency also reported a doubling of growth from its international air and hotel business compared to outbound traffic from its domestic market.

Overall, revenues from all international-related services account for more than 35% of the total in the second quarter of 2019, according to its latest earnings report.

The results come as the company says it intends to change the name of the business to Trip.com Group, ending almost 20 years as Ctrip.

Executive chairman James Liang says the move is to position the brand further as a global player.

He adds: "The new name reflects the services and products we provide, and can be easily remembered by global users. In October, we will celebrate the 20th anniversary. Over the next decade, we will strive to become one of the most innovative and respected companies in the global travel industry."

The company had already placed $1.2 billion on the books in the first quarter of 2019.

Its latest earnings for the second three-month period this year saw it bring in almost $500 million for both its accommodation and transportation ticketing divisions.

The largest year-over-year jump came for its accommodation revenue, which climbed from $425 million in Q2 2018.

Supporting the group's efforts to bring in new and retain existing customers was a $307 million outlay in marketing activity - although was a 4% decrease on the same quarter in 2018.

Liang, speaking during the company's call with financial analysts, admits there are some headwinds in Asian markets due to "difficult geopolitical situation."

He explains: "I think these are short-term impact as people will rearrange the plan to travel later this year in the future for their holidays.

"Overall, in the long run, I think, particularly in Asia, we're still very positive, because China is still going to be the fastest-growing – one of the fastest-growing large economies in the world and overall Asia is still going to be remaining the fastest-growing economical region in the world. 

* Check out this interview Cindy Wang, chief financial officer of Ctrip International, at The Phocuswright Conference 2018.