Articles from Caixin Global, Caixin Global

Caixin Global

Articles from Caixin Global

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<ul><li>Hundreds of millions of Chinese travelers crowded tourist hotspots across the country over the week-long Labor Day holiday</li><li>Travelers made 274 million domestic trips during the holiday, up 70.83% from last year, according to data from the Ministry of Culture and Tourism</li><li>Revenue from domestic tourism reached 148 billion yuan ($21 billion), an increase of 128.9% from the same period last year</li></ul>

Hundreds of millions of Chinese travelers crowded tourist hotspots across the country over the week-long Labor Day holidayTravelers made 274 million domestic trips during the holiday, up 70.83% from last year, according to data from the Ministry of Culture and TourismRevenue from domestic tourism reached 148 billion yuan ($21 billion), an increase of 128.9% from the same period last year

Hardly Anybody in China Stayed Home for the Holidays

External broker reports(aggregated public sources), CMB International

CMB International

External broker reports(aggregated public sources)

Incorporated in Hong Kong, supported by the mainland and targeting in global market, CMB International Capital Corporation Limited (“CMBI”) is an integrated financial institution providing comprehensive and professional services. As a wholly-owned subsidiary of China Merchants Bank ("CMB"), by leveraging on the Group’s synergy and coordination in domestic and overseas markets, as well as CMB’s strong resources and outstanding social reputation, CMBI and its subsidiaries have been actively implementing diversified business strategies and set up an overall layout of main business segments including Corporate Finance, Asset Management, Wealth Management, Global Markets and Structured Finance, etc. Adhering to the philosophy of “being clients oriented and increasing our own values by the way of creating value for clients”, CMBI endeavors to provide quality and integrated financial services to institutional, corporate and individual customers both domestic and overseas including Hong Kong IPO sponsorship and underwriting, share placement and rights issue for listed companies, financial advisors, bonds issuance services, asset management, direct investment, wealth management, equity sales and trading, etc.

<ul><li>Labour Day (LD) Holiday data revealed a strong recovery trend for travel industry aided by the release of pent-up demand, which is likely to trend into 3Q22 aided by the coming of peak summer holiday travel period.</li><li>With the recovery of offline activities and low base effect, local consumer services industry also saw robust recovery, while the evolvement of competitive landscape is the key to watch.</li><li>Maintain BUY on TCOM, BABA, and Meituan.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Labour Day (LD) Holiday data revealed a strong recovery trend for travel industry aided by the release of pent-up demand, which is likely to trend into 3Q22 aided by the coming of peak summer holiday travel period.With the recovery of offline activities and low base effect, local consumer services industry also saw robust recovery, while the evolvement of competitive landscape is the key to watch.Maintain BUY on TCOM, BABA, and Meituan.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

China Internet – Release of pent-up demand aids robust travel and consumption recovery

<ul><li>Demand for hotel rooms and air tickets during this year’s Labor Day holiday is on track to exceed pre-pandemic levels of 2019, industry data showed</li><li>Many of the bookings were for destinations in the Yangtze River Delta region, Chongqing municipality, Chengdu and the Beijing-Tianjin-Hebei cluster</li><li>The rebound in travel comes amid a broader recovery in tourism, with Qunar saying that tickets tourist attractions in Beijing, Shanghai, Nanjing, Guangzhou and Xi’an have been selling fast.</li></ul>

Demand for hotel rooms and air tickets during this year’s Labor Day holiday is on track to exceed pre-pandemic levels of 2019, industry data showedMany of the bookings were for destinations in the Yangtze River Delta region, Chongqing municipality, Chengdu and the Beijing-Tianjin-Hebei clusterThe rebound in travel comes amid a broader recovery in tourism, with Qunar saying that tickets tourist attractions in Beijing, Shanghai, Nanjing, Guangzhou and Xi’an have been selling fast.

Labor Day Holiday Travel Demand Tops Pre-Pandemic Levels

Asian Equities Analyst, Logistics & Transport, Tracking Traffic

Daniel Hellberg

Asian Equities Analyst, Logistics & Transport

Tracking Traffic

Focusing on Asian logistics, transportation, and travel companies

<ul>
<li>Chinese outbound air travel in the region surged in March, up 50%+ versus February</li>
<li>Domestic improvement more muted, but still up about 75% Y/Y in Q123</li>
<li>Is the expected recovery on track? Sure, but so far no upside surprises for investors</li>
</ul>


Chinese outbound air travel in the region surged in March, up 50%+ versus February
Domestic improvement more muted, but still up about 75% Y/Y in Q123
Is the expected recovery on track? Sure, but so far no upside surprises for investors


Chinese Outbound Tourism Recovery Accelerates, But Still a Fraction of Pre-Covid Level

<ul>
<li>On Monday evening in the US, <a href="https://www.smartkarma.com/entities/trip-com-group-ltd" target="_blank" data-smartkarma-citation="entities:180:1" rel="noopener">Trip.com (TCOM US)</a> reported Q422 results that beat low expectations, but shares in the US traded down about 3% in Tuesday's session</li>
<li>As for guidance, management offered few specifics but noted a sharp improvement in booking activity early in 2023, but also highlighted an outbound capacity bottleneck at the airlines</li>
<li>Just as Covid's negative impacts papered over the secular challenges facing Trip.com, the dramatic near-term recovery in travel activity also obscures longstanding threats</li>
</ul>


On Monday evening in the US, Trip.com (TCOM US) reported Q422 results that beat low expectations, but shares in the US traded down about 3% in Tuesday's session
As for guidance, management offered few specifics but noted a sharp improvement in booking activity early in 2023, but also highlighted an outbound capacity bottleneck at the airlines
Just as Covid's negative impacts papered over the secular challenges facing Trip.com, the dramatic near-term recovery in travel activity also obscures longstanding threats


Trip.com Q4/2022 Results: Back to Reality?

China

Trip.com Group Ltd. provides online travel agency services. The Company offers mobile applications, hotel reservations, flight ticketing, package tours, corporate travel management, and train ticketing services.

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Trip.com (TCOM US)

Hardly Anybody in China Stayed Home for the Holidays

Hundreds of millions of Chinese travelers crowded tourist hotspots across the country over the week-long Labor Day holiday

Caixin Global

China Internet – Release of pent-up demand aids robust travel and consumption recovery

With the recovery of offline activities and low base effect, local consumer services industry also saw robust recovery, while the evolvement of...

CMB International

Labor Day Holiday Travel Demand Tops Pre-Pandemic Levels

Demand for hotel rooms and air tickets during this year’s Labor Day holiday is on track to exceed pre-pandemic levels of 2019, industry data showed

Caixin Global

Chinese Outbound Tourism Recovery Accelerates, But Still a Fraction of Pre-Covid Level

Chinese tourism activity accelerated last month (particularly outbound travel), but it remains at a fraction of pre-Covid levels -- we see no...

Tracking Traffic

Trip.com Q4/2022 Results: Back to Reality?

As China emerges from Covid, old challenges remain for Trip.com. After posting solid Q422 results and pointing to signs of a strong recovery, these...

Daniel Hellberg

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