中金公司：旅游酒店及餐饮服务连锁正当时，布局反转和高成长

Core Viewpoint - The report from CICC indicates that the social service industry is expected to stabilize and show signs of bottoming out in 2025 after experiencing price pressure and same-store sales decline in 2024 [1] Group 1: Industry Outlook - The social service industry is anticipated to experience a slowdown in price competition and a stabilization in same-store sales, with potential for positive growth or reduced decline [1] - Sub-industries such as hotels and duty-free are expected to show signs of recovery and may reach a turning point in 2026 [1] Group 2: Company Performance - The report continues to favor comprehensive leading companies with strong internal growth capabilities and high-growth niche leaders [1]