bullish
China Tourism and Hospitality Industry: A Year of Revenge
283 Views28 Feb 2023 08:00
SUMMARY
- With re-opening of borders, China's tourism and hospitality industry should see encouraging earnings outlook over the next two years; and we are now only in the early stage of recovery.
- Online travel agencies and hotel and resorts operators including Tongcheng Travel Holdings (780 HK), H World Group (1179 HK), Trip.com (9961 HK) and Fosun Tourism (1992 HK) are well positioned.
- These companies all have sound business model, industry leadership position, solid competitive strengths, comprehensive customer coverage and, for some, meaningful global presence in their respective sub-sectors.
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Osbert Tang, CFA
China Analyst - Equity Long-Short, Onshore Credit
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