TravelNews

[Travel News]: Leisure-focused OTA Tuniu expects to narrow revenue drop next quarter

TheTourAttraction.com aims to provide the latest global travel and free travel news, travel and visa policies, and flight information. We hope to provide insights into tourism market, technology and development trends with everyone by providing the latest relevant information. Despite the raging COVID-19 epidemic in 2020, we always firmly believe that mankind will overcome the disease and the tourism market will definitely recover. TheTourAttraction.com look forward to your attention and support, and witness the development of the global tourism industry with us. Looking forward to the information TheTourAttraction.com provide can help you. We will continue to follow up and obtain the latest data, and look forward to your attention and support.

The following is the [Travel News]: Leisure-focused OTA Tuniu expects to narrow revenue drop next quarter from [ChinaTravelNews] recommended by TheTourAttraction.com:

The company further strengthened cost-control measures and continued to optimize internal management system.

Tuniu Corporation, a leisure-focused Chinese online travel company, said its revenues decreased 73.7% to RMB 118.7 million (US$ 18.2 million) in the fourth quarter of 2020.  

Revenues from packaged tours were RMB 83.1 million (US$ 12.7 million) in the fourth quarter, representing a year-over-year decrease of 75.9% from 2019. 

Net loss was RMB 921.8 million (US$ 141.3 million) in the fourth quarter of 2020, compared to a net loss of RMB 401.4 million in the fourth quarter of 2019.

Founder & CEO Mr. Donald Dunde Yu said, “In 2020, we further strengthened our cost control measures and since the fourth quarter we continued to optimize our internal management system, which will help build a solid foundation for the company’s business development in 2021.”

Full-year net revenues dropped 80.3% to RMB 450.3 million (US$ 69.0 million) in 2020. Revenues from packaged tours were RMB 302.4 million (US$ 46.3 million) in 2020, representing a year-over-year decrease of 84.0% from 2019. Net loss was RMB 1.3 billion (US$ 205.9 million) in 2020, compared to a net loss of RMB 729.4 million in 2019. 

For the first quarter of 2021, the company expects to generate RMB 60.9 million to RMB 69.6 million of net revenues, which represents 60% to 65% decrease year-over-year. 

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button