On February 22, Ctrip Group (NASDAQ: TCOM; Hong Kong Stock Exchange: 9961) announced its unaudited financial performance for the fourth quarter and full year of 2023. In the fourth quarter, the company's net operating income was 10.3 billion yuan, and the net operating income for the whole year of 2023 was 44.5 billion yuan, an increase of 105% and 122% year-on-year, respectively.
Ice and snow tourism, as well as local cultural and tourism activities, have caused the traditional off-season tourism market to maintain high heat in the fourth quarter, driving the growth of Ctrip's various businesses. In the fourth quarter, Ctrip's accommodation booking revenue was 3.9 billion yuan, a year-on-year increase of 131%; The operating revenue of transportation ticketing was 4.1 billion yuan, a year-on-year increase of 86%; The operating revenue of tourism and vacation business was 704 million yuan, a year-on-year increase of 329%; The operating revenue of business travel management business was 634 million yuan, a year-on-year increase of 129%. In the fourth quarter, Ctrip's net operating revenue increased by 105% year-on-year, reaching 10.3 billion yuan.
In 2023, Ctrip's net operating income was 44.5 billion yuan. Among them, the revenue from accommodation booking was 17.3 billion yuan, the revenue from transportation ticketing was 18.4 billion yuan, the revenue from tourism and vacation business was 3.1 billion yuan, and the revenue from business and tourism management business was 2.3 billion yuan, with year-on-year growth of 133%, 123%, 294%, and 109%, respectively.
At present, the Ctrip International OTA (Online Travel Agency) platform has been operating in 39 countries and regions in Asia, Europe, and the Americas. The leading international layout and service capabilities have enabled Ctrip to benefit from the recovery of inbound and outbound tourism earlier, achieving rapid growth in international business. In the fourth quarter, Ctrip's outbound hotel and flight bookings recovered to over 80% of the same period in 2019, while the international aviation industry's passenger volume recovered to 60%; The total bookings on Ctrip International OTA platform increased by over 70% year-on-year.
In 2023, we will continue to increase our technological innovation efforts, and our annual product research and development expenses will reach 12.1 billion yuan, a year-on-year increase of 45%, accounting for approximately 27% of our net operating income. This will provide underlying support for business innovation, continuously improve user satisfaction, and enhance our ability to serve our partners. At the same time, Ctrip actively takes responsibility in promoting low-carbon development, employment, and rural revitalization in the industry, and continuously enhances its sustainable development capabilities.
In 2023, Ctrip user satisfaction remained at a high level, with a 20% increase in NPS (Net Recommended Value) in the fourth quarter compared to the third quarter. Ctrip has also built 7 x 24 hours of multilingual customer service support and global SOS emergency support services to safeguard global tourists and continuously improve user satisfaction. At the same time, Ctrip helps partners in various fields such as destinations, hotels, travel agencies, stores, car rentals, and business travel customers accelerate their recovery and create incremental value.
In 2023, through refined operations, the number of airport segments in fourth - and fifth tier cities on the Ctrip platform has significantly increased, with a year-on-year increase of 127% and a 13% increase compared to 2019. The number of new homestay merchants admitted by Ctrip increased by 122% year-on-year throughout the year. Through professional training, traffic exposure, and other measures, the GMV (total transaction volume) of new homestay merchants in 2023 increased by more than three times compared to the GMV of new homestay merchants in 2022. The number of cooperative merchants in Ctrip's tourism and vacation business increased by 54% year-on-year, and the transaction amount increased by more than three times year-on-year. Ctrip Business Travel helped corporate clients save 3.58 billion yuan in travel costs throughout the year.