Asia remained our largest source of inbound travelers. Visitors from Europe and US also grew rapidly and now accounts for roughly 25% of total inbound traffic.

Jun 24, 2026 / CEO / receipt, needs a key / Jian Sun, CEO | earnings call 2026-06-24 | transcript e5e6a5e8-d431-4764-ab15-18efa282c06a | chars 6746-6905 | segment 7

On the international front, global travel demand remained resilient, particularly across the APAC region, where cross-border travel activity continued to grow steadily.

Jun 24, 2026 / CEO / receipt, needs a key / Jian Sun, CEO | earnings call 2026-06-24 | transcript e5e6a5e8-d431-4764-ab15-18efa282c06a | chars 8072-8240 | segment 8

First, rising energy prices and recent geopolitical tensions have led to higher airfare, tighter airline capacity, and disruptions on certain international routes, particularly long-haul travel.

Jun 24, 2026 / CEO / receipt, needs a key / Jian Sun, CEO | earnings call 2026-06-24 | transcript e5e6a5e8-d431-4764-ab15-18efa282c06a | chars 19726-19920 | segment 20