Core Insights - During the 2025 National Day Golden Week, China's tourism consumption demand showed significant resilience, with a year-on-year increase in nationwide travel volume, particularly in eastern cities like Shanghai and Nanjing [3] - The southern and western regions experienced slightly weaker performance due to weather factors, but self-driving trips and scenic area visits continued to rise, leading to a notable improvement in hotel occupancy rates, with some areas achieving record high RevPAR [3] - Retail and dining sectors recorded steady growth during the holiday, indicating a rational consumer behavior leaning towards mid-to-high-end experiences, with larger brands and companies demonstrating stronger performance elasticity amid industry competition [3] - Short trips and day tours became mainstream, while some traditionally popular tourist destinations like Hainan saw slow recovery due to weather impacts [3] - Huazhu Group, as an industry leader, has a dense layout in high-demand areas, achieving significant increases in occupancy rates and revenue per room during the Golden Week, benefiting from the tourism recovery [3] - The group's efficient operations and multi-brand strategy are expected to help it maintain a leading position amid the upgrading of domestic consumption structures [3]
华住集团（01179.HK）：黄金周消费带动酒店行业受惠