Trip.com, China’s top travel booking site, lost $131 million in the last three months of 2021 compared with a profit of $159 million a year earlier as Covid-19 infections reemerged in China, the company said in a statement today.
The new outbreaks “discouraged user demand” for the company’s products, Trip.com said.
Net revenue in the fourth quarter totaled $735 million, a 6% decrease from the same period in 2020. (See announcement here.)
“Going forward, we will continue to focus on the business recovery in the Chinese domestic market while remaining ambitious with our global vision towards global travel reopening,” Chairman James Liang said.
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