Trip.com

Trip.com Group reported strong 2025 results, fueled by a 60% surge in international bookings and a rebound in inbound tourism, welcoming 20 million visitors. Net revenue increased 21% year-over-year in Q4 and 17% for the full year. Strategic investments in AI and a customer-centric approach are driving growth and enhancing user experience. The company also announced board changes and is cooperating with an anti-monopoly investigation.

Zhengzhou hotel operators accuse Trip.com of unauthorized rate modifications via an automated tool, prompting a regulatory probe. Authorities are gathering evidence of price discrepancies up to 20 yuan ($2.75) from merchant-set rates. While Trip.com claims the tool helps hotels stay competitive and allows opt-outs, over 110 complaints allege reactivation without consent. Legal experts warn violations of China’s Price Law and anti-competition regulations, highlighting tensions between platform rate control and merchant pricing autonomy. The case tests updated e-commerce laws amid growing scrutiny of China’s $100B online travel sector dominated by Trip.com.