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《大行報告》大和降華住集團-S(01179.HK)目標價至36元 上季RevPAR勝預期
阿思達克 01-24 09:28
大和發表報告指,華住集團-S(01179.HK)上季Legacy-Huazhu酒店業務RevPAR較2019年同期水平超出20%,勝於預期,主要是去年12月RevPAR上升,回復到2019年水平的123%。加上上季酒店淨增數目按季放緩至235間,主要是品牌Elan旗下加快淘汰軟品牌(soft-brand)酒店。 展望2024年,該行表示即使內地經濟未見重大改善,仍對華住集團進一步加速酒店開張保持信心,料錄得穩健按年RevPAR的5%增長,又指酒店板塊仍然是該行首選,主要是內地的結構性增長。 該行指,將公司在2024年至25年EBITDA預測稍微上調1%,受惠營運槓桿略擴張,並將其目標價由37.5元下調至36元,維持其評級為「買入」。
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