Trip.com Group released its 2025 Sustainability Report on Aug. 6, 2026, from Singapore, announcing a USD 100 million Tourism Innovation Fund and a new global paid paternity leave policy. The report highlights the company's progress in climate action, community empowerment, and workforce inclusivity under its "Friendly Four" framework. These initiatives aim to create long-term value for travellers while addressing environmental and social responsibilities across its global operations.

Strategic Investments and Policy Updates

The company launched the USD 100 million Tourism Innovation Fund at its 2025 Global Partner Conference to support innovative tourism projects and cross-sector collaborations. This investment seeks to encourage new destination growth models and differentiated visitor experiences. Additionally, Trip.com Group introduced a global paternity leave policy providing a minimum of 20 days of paid leave for eligible employees. The first phase takes effect on Aug. 1, 2026, covering selected markets across Asia, with additional regions joining later this year.

Jane Sun, CEO of Trip.com Group, stated that the company is investing in its people and accelerating climate action to build a more resilient tourism ecosystem. The new leave policy supplements local statutory entitlements, reinforcing the group's commitment to supporting families across its global workforce.

Workforce Inclusivity and Community Impact

Trip.com Group reported maintaining a 100% return-to-work rate for female employees following maternity leave during the reporting period. Its Childcare Subsidy supported over 2,038 families since launch, with 1,114 employees benefiting in 2025 at an annual cost of approximately USD 1.6 million. Women held 33.1% of senior management positions and 52.3% of management roles within key revenue-generating functions.

The company's Country Retreat programme supported approximately 11,000 indirect employment opportunities during the reporting year, having generated around 51,000 employment opportunities over the last five years. At least 80% of staff across its 12 properties are hired locally.

Climate Action and Operational Metrics

Trip.com Group became the first online travel company in the Asia Pacific region to have both its near-term and net-zero greenhouse gas emissions reduction targets validated by the Science Based Targets initiative (SBTi). In 2025, 2.74 million users embraced lower-carbon business travel, generating 23.44 million lower-carbon travel bookings throughout the year. The Global SOS Platform was upgraded to support 24 languages and 20 travel emergency scenarios, handling more than 23,000 assistance requests across over 100 destinations by the end of 2025.

What the Numbers Show

The validation of both near-term and net-zero targets by SBTi distinguishes Trip.com Group from peers in the Asia Pacific online travel sector, signaling a structured approach to decarbonization rather than voluntary commitments alone. With 23.44 million lower-carbon bookings recorded in 2025, the data suggests growing consumer adoption of sustainable travel options, aligning operational scale with environmental goals. The USD 100 million fund further indicates a strategic shift toward financing innovation as a core component of its sustainability strategy.

Trip.com Group Limited was ordered by the State Administration for Market Regulation (SAMR) to pay approximately 5.3 billion yuan ($783 million) in fines and refunds following an anti-monopoly probe that concluded on July 27, 2026. The regulator found that the online travel platform abused its dominant position in China’s online hotel booking market since 2020 by enforcing exclusivity deals and imposing price limits on hotels operating across multiple platforms. While the penalty imposes a significant one-time financial charge, regulators stopped short of mandating a breakup of Trip.com’s business or requiring the divestment of its stake in Tongcheng Travel, sparing the company from structural overhaul.

Penalty Breakdown and Financial Impact

The total liability of 5.3 billion yuan comprises a fine of 3.52 billion yuan, which represents 7.5% of Trip.com’s China revenue in FY25, and the confiscation of nearly 1.66 billion yuan in gains derived from irregular practices. Additionally, the company must refund 122 million yuan in security deposits previously taken from hotel operators. This fine rate is higher than the 4% imposed on Alibaba Group and the 3% levied on Meituan during their respective antitrust cases in 2021.

Despite the substantial penalty, Trip.com possesses sufficient liquidity to settle the bill without distress. As of March 31, 2026, the company held 104 billion yuan in cash, deposits, and financial investments. The market reacted positively to the absence of structural remedies, with Hong Kong-listed shares rising 7.7% post-announcement before closing 3.79% higher at HK$355.60.

Operational Rectification Requirements

Beyond the financial penalties, Trip.com is required to implement immediate rectification measures to align with anti-monopoly laws. Key operational changes include:

• Ending exclusivity deals with hotel partners
• Removing lowest-price-across-all-platforms requirements
• Discontinuing automated pricing tools that restrict hotel rate-setting freedom
• Refraining from changing room rates without explicit hotel consent
• Redesigning existing mechanisms for traffic allocation, fees, and commissions

Trip.com CEO Jane Sun confirmed that automated pricing tools were already switched off in March 2026, noting an impact on the company’s second-quarter outlook. She acknowledged that financial performance may fluctuate during the transition to a new partnership model where hotels have greater freedom to allocate rooms and set prices across competitors such as Meituan, Fliggy, and Tongcheng Travel.

What the Numbers Show

Accommodation reservations remain Trip.com’s largest revenue source, totaling 26.1 billion yuan in FY25, or approximately 42% of total turnover. Booking income grew 17% year-over-year to 6.5 billion yuan in Q1FY26. However, the removal of exclusivity controls threatens this margin advantage. Analyst estimates suggest adjusted net profit could fall 15% to 13.5 billion yuan in FY26 if commission rates decline or marketing subsidies increase. While Trip.com retains a 56% share of mainland China’s online travel market, its competitive edge will increasingly depend on member loyalty and technology rather than restrictive pricing power.

Corporate Structure Preserved

The six-month probe, initiated in January 2026, focused exclusively on business practices rather than corporate structure. Trip.com was not ordered to spin off Qunar, accommodation reservations, or transportation ticketing units. It also retains its approximately 24% stake in Tongcheng Travel, which may benefit from expanded hotel partnership opportunities now that exclusivity restrictions are lifted. Trip.com stated it accepts the SAMR decision and will strengthen long-term governance mechanisms to ensure compliance.