作者|超新星财经编辑|Ray随着旅游消费的全面复苏,在线旅游行业呈现出显著的分化态势,携程、同程旅行、途牛三大平台2025年第一季度财报数据揭示了不同战略路径下的发展轨迹。01 商业模型分化:规模扩张与垂直深耕的路径选择携程:全球化全链条生态的规模红利携程一季度138亿元的净营收规模,相当于同程与途牛营收总和的3.08倍,其航空+酒店+度假+商旅的全业务矩阵展现出强大的协同效应。住宿预订与交通票务...
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