Zitong Financial APP learned that Daiwa issued a research report saying it reaffirmed its positive rating on China's hotel industry and gave it a "buy" rating. The preference for Chinese hotel stocks in order is: ATAT.US, Huazhu (HTNT.US), Shangri-La (Asia) (00069), Jinjiang Hotel (600754.SH), first Travel Hotel (600258.SH).

For the slowdown in average revenue per rentable room (RevPar), some Expedia experts expect the industry's RevPar to grow by 7 per cent in 2024, driven by a 2 per cent year-on-year increase in occupancy (OCC) and a 5 per cent increase in average daily room rate (ADR), according to the report. Since other markets reopened a year earlier than the Chinese market, Daiwa believes that China's hotel industry RevPar will not catch up until 2024, and it is believed that China's hotel industry will become one of the most significant growth industries in the consumer sub-industry.

Daiwa pointed out that China's National Day hotel demand will break the record, leisure travel demand is strong, business travel continues to recover, which will further support RevPar growth in 2024, and it will take time for consumer confidence, travel facility capacity and business activities to recover. The RevPar demand backlog will drive the recovery to be completed within 18-24 months. Experts believe that cross-border travel and business travel will further accelerate in 2024, but due to the relocation of multinational companies and geopolitical factors, cross-border travel and business travel are unlikely to reach 100% of 2019 levels by the end of 2024.