Tencent-invested OTA sees recovery, Chinese travelers switch to private tours

2020/8/30 23:14:55
Tongcheng-Elong Holdings, a Chinese online travel firm co-invested by Group and Tencent, said its revenue plummeted 24.6% in the second quarter this year. Average monthly active users decreased by 3.3% year-to-year from 181.6 million in the same period of 2019, but increased by 18.3% quarter-to-quarter from 148.4 million in the first quarter of 2020, to 175.6 million this quarter. As of June 30, around 85.9% of its registered users resided in non-first-tier Chinese cities.