News Snapshot:
Trip.com, China’s top travel booking site, lost $131 million in the final three months of 2021, down from a profit of $159 million a year earlier as Covid-19 infections surged. reappeared in China, the company said in a statement today. The new outbreaks “discouraged user demand” for the company’s products, Trip.com said. Fourth-quarter net revenue totaled $735 million, down 6% from the same period in 2020. (See announcement here.) “Going forward, we will continue to focus on resuming business in China’s domestic market while remaining ambitious with our overarching vision for the global reopening of travel,” said CEO Jane Sun....
