According to the trend of the average revenue of rentable rooms per room (RevPAR) in the hotel industry this quarter, Furui maintains its forecast for the second quarter total revenue growth of Ctrip Group-S (09961), expecting a year-on-year increase of 13%. The group's market share continues to grow, and it also offers customized products for different age groups. The bank expects the same year-on-year growth rate for the third quarter total revenue as the second quarter. Inbound and outbound tourism and penetration in lower-tier cities will be future growth opportunities. Maintain a buy rating with a target price of HKD 544.