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《大行》花旗維持攜程(TCOM.US)同程(00780.HK)「買入」評級 料可藉控制供應鏈反擊京東競爭
花旗研究報告指,京東集團(09618.HK)(JD.US)日前公布酒店商家參與「京東酒店PLUS會員計劃」,享受最高3年零佣金。該行料行業格局短期內將有一些不確定性,認為對於新加入市場的營運者而言,要提供酒店供應並不難,但一般酒店會提供客房予可以帶來大量且穩定客源的線上中介平台,尤其是旺季時的旅遊熱門地點。另外,要通過補貼獲得用戶相對容易,但留住用戶則較困難,因需要穩定的產品供應和客戶服務能力。該行相信現有的線上旅遊中介平台可透過更嚴格的供應鏈控制來反擊京東。 該行對攜程集團(09961.HK)(TCOM.US)維持「買入」評級,美股目標價78美元;對同程(00780.HK)亦維持「買入」評級,目標價26元。
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