Trip.com Group said international online travel agency (OTA) platform bookings increased 60% year over year while it served about 20 million inbound travelers to China.
Reporting fourth quarter and full-year 2025 earnings, CEO Jane Sun said inbound travel is a "key growth driver" for the company and one that boosts economic growth and creates jobs.
"We support this momentum by empowering and closely collaborating with local partners to generate incremental demand and long-term value.”
Trip.com Group sees huge growth potential in the inbound segment, which currently accounts for 0.5% of China's GDP. Sun said that figure could increase five to 10x.
"Travel is more than an industry; it is an essential economic infrastructure that enables connection, mobility and shared growth," said James Liang, executive chairman. "Inbound travel plays a meaningful role in expanding opportunity and contributing to local communities. Guided by a customer-centric and trust-based approach, we continue to scale our efforts."
AI moves
During the company's earnings call, Liang said Trip.com Group's investment priorities going forward will be inbound tourism, social responsibility initiatives and artificial intelligence (AI) innovation.
Commenting on AI further, Sun said that the company is shaping the role of AI agents in travel, not just adapting to them.
"The core OTA model is built on three pillars. While AI agents excel at inspiring travel, they also reinforce the critical importance of our transactional and service layers, which are central to our business."
"We view general AI agents as the next generation of user entry points set to capture share from traditional search and social media. Externally, we are moving beyond simple collaboration to build direct agent-to-agent transactional capabilities with leading AI partners across the globe. Internally, we are investing to advance our native AI agent to deliver sophisticated agentic search and booking to handle complex, multistep travel planning and booking for our users."
Earlier this week the company provided an update on its TripGenie assistant with AI-assisted bookings increasing 400% year over year. In addition, the use of tools with the AI assistant such as hotel comparison and live translation increased 300% year over year.
2025 numbers
The company increased net revenue in Q4 2025 by 21% to $2.2 billion, attributed to travel demand. For the full year, net revenue was up 17% year over year to almost $9 billion.
Net income for Q4 was $613 million compared to $321 million year over year. For the full year, net income was $4.8 billion, up from $2.5 billion in 2024. The company attributed the gain to investments.
Adjusted EBITDA for the quarter was $490 million, up slightly on the same period in 2024. Full-year Adjusted EBITDA was $2.7 billion, up from $2.3 billion in 2024.
Accommodation revenue increased 21% to $899 million in Q4 and rose by the same percentage to $3.7 billion for the full year. Accommodation revenue accounted for 42% of total revenue in 2025.
Transportation ticketing revenue for Q4 increased 12% to $768 million compared to the same period in 2024. For the full year, transportation ticket revenue increased 11% to $3.2 billion.
Revenue from packaged tours rose 21% to $151 million in Q4 and by 8% to $670 million for the full year. Corporate travel revenue in the quarter was up 15% to $116 million year over year and increased 13% to $405 million for the full year.
Trip.com Group reported a 15% increase in product development expenses to $2.2 billion in 2025.
Sales and marketing expenses in Q4 increased 30% to $629 million versus the same period in 2024. Sales and marketing expenses for 2025 rose 25% to $2.1 billion.