HTHT / 1179.HK: Expect Lodging To Be Better From 2Q21 Onward; 1Q21 Is Likely The Bottom
HTHT will report 1Q21 results on May 25th after the markets close followed by a conference call at 9pm EST. We are positive on the performance of HTHT’s domestic business in 2021. HTHT’s DH hotels continue to be under pressure, as international travel has not seen a meaningful recovery yet. Domestic travel was impacted by some outbreaks of COVID-19 in January and February 2021, which negatively impacted HTHT’s growth in 1Q21. From our data and public data, we believe domestic travel in 2Q21 rebounded rapidly, and we expect international travel to recover gradually throughout the rest of 2021 as vaccines are being widely distributed worldwide.
T.H. Capital is an independent research and investment advisory firm specializing in China. We offers real-time, on-the-ground, bottom-up research across a wide spectrum from macro and industry analysis to company specific projects; from China ADRs to international names that have meaningful exposure to China market. We deliver relevant, comprehensive and data driven research adding immense value to clients.
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