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Trip.com Group Limited and the awkward downside of being the travel super-app

Trip.com Group Limited and the awkward downside of being the travel super-app

KAHROS Team

TL;DR

Quick Summary

  • On January 14, 2026, Trip.com disclosed an antitrust investigation notice from China’s SAMR; the company said it’s cooperating and operations are normal.
  • Trip.com’s 2025 results highlighted strong cross-border momentum, including international booking growth and outbound travel above 2019 levels.
  • The key investor question is whether any regulatory remedies would change how Trip.com works with hotels, airlines, and rivals—more than whether travel demand stays strong.

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