China's online package travel specialist Tuniu handled around seven million tours during 2016, more than 50% higher than the previous year.
Its 2016 Q4/FY earnings break down the numbers between organized and self-guided tours. During the year it booked 2.8 million international organised tours, 2.2 million local (domestic) organised tours and 1.8 million self-guided tours.
This represents an increase on 2015 of 70%, 30% and 31% respectively.
The favoured destinations for organised and self-guided tours are the same, with its statement referencing growth in interest from Chinese travellers for Japan, South Korea, Middle East, Africa and North America.
One metric that is getting a lot of attention during the full-year earnings season is the "sales and marketing expenses" line. During the year Tuniu spent $275 million (or $255 million on a non-GAAP basis), a year-on-year increase of 65% (or 61%).
CFO Conor Yang told analysts that it will be spending less on marketing in 2017, believing that its branding investments over the past few years will start to pay off. It is also focusing its 2017 marketing on mobile, with 70% of the unquantified amount earmarked for digital going on mobile.
Its confidence in the reach of its brand is confirmed by the fact that 54% of the total transaction value in the final three months of the year could be attributed to repeat customers.
However, despite the optimistic soundings about operational improvements, the financial performance in the fourth quarter fell short of expectations. Revenues for Sept-Dec were $303 million - the market was looking for a figure close to $320 million.
Related reading:Tuniu unfazed by competition from Ctrip and Fosun (Jan 17)