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Saturday, June 22, 2024

Trip.com Joins Fortune Asia’s Elite Future 30!

In recognition of its immense potential for long-term growth, leading global travel service provider Trip.com Group has been named among the Fortune Asia Future 30, a list of 30 companies headquartered in Asia that have demonstrated remarkable innovation, paving the way for robust growth over the next five years.

“We are humbled and honoured to be recognised by Fortune Asia Future 30 as we continue to strive towards being a leading player in the Asian and global market,” said Ms Jane Sun, CEO of Trip.com Group. “Through innovations in technology and business strategy, we prioritise unlocking new value for our partners and providing our users with the best and most seamless travel experience possible.”

To identify the Asia Future 30, Fortune and the BCG Henderson Institute examined around 700 publicly traded companies across the Asia-Pacific region with at least $10 billion in market value at the end of 2022 or $10 billion in revenue through 2022.

Companies were assessed on their market potential, as well as their capacity to deliver, weighted by a machine learning algorithm for their ability to predict growth over the following five years. The four categories in consideration were: strategy, technology and investment, people, and structure.

Expanded offerings, tech innovation, and diversity as growth drivers

This award comes as Trip.com Group embraces exciting growth opportunities in 2024 – travel trends such as experiential tourism and eco-friendly practices spur Trip.com Group to further expand its product offerings; technological innovation such as AI continues to redefine the travel experience, and the ongoing commitment to diversity drives Trip.com Group to lead progress within the industry.

Now approaching its 25th anniversary, Trip.com Group reported an impressive performance in 2023, with a 122% increase in full-year net revenue compared to the previous year and a 25% increase compared to 2019, showing its adaptability amidst challenges posed by the pandemic.

As today’s travellers are increasingly drawn to unique experiences rather than mere sightseeing, Trip.com Group has diversified its offerings to meet the rising demand. The sought-after “Hotel Rooms Plus X” offering combines hotel stays with experiences such as afternoon tea, and spa treatments, among others, to elevate the entire experience. Moreover, the company continues to redefine travel experiences through innovative formats and exclusive events, from popular livestream shows such as “Super World Trip BOSS Live” in Phuket ahead of Songkran to a sunrise experience at the Empire State Observatory in New York City during the Chinese New Year.

Sustainability has been part of Trip.com Group’s strategy as industry players and travellers alike grow more conscious of how travel impacts the environment. Since the introduction of the low-carbon hotel standard initiative in China in 2023, more than 2,000 hotels have been recognised as low-carbon hotels, and more than 3 million guests have made reservations, reducing about 2,750 tons of carbon emissions. The Group has also introduced eco-friendly flights, vehicles, and other green initiatives to provide more environmentally friendly options and raise awareness among partners and consumers.

Powering the continuous growth of Trip.com Group is its use of cutting-edge technology. Since its launch in 2023, the revolutionary AI travel assistant TripGenie has secured nearly 1 million inquiries, helping users get travel inspirations, plan itineraries, and find suitable flights and hotels all through simple user questions. The Trip.Vision app, released last month on the Apple Vision Pro, also brings users closer to their dream destinations through virtual reality – whether it’s the peaks of Mount Everest, the depths of the Sahara Desert, or the iconic rocks of Guilin – from the comfort of their living rooms. These innovations are redefining what it means to travel, streamlining processes while simultaneously fuelling a wanderlust to explore more.

Trip.com Group has long recognised that a diverse, inclusive workforce is essential to achieving its mission and vision, and it has taken pioneering steps over the years toward creating a gender-inclusive workplace. At Trip.com Group, women currently hold 43% of middle-management positions and 33% of management positions at the Vice President level and above. The childcare subsidy, hybrid work arrangements, and other measures for pregnant employees and new mothers support working families to balance their personal lives and professional development.

With innovation, diversity, and sustainability as key drivers of growth, Trip.com Group is set to play a bigger part on the global stage, while maintaining excellent standards to meet the rising and evolving demands of global travellers.

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