15 October 2025 | 2:13PM HKT Equity Research China Travel & Leisure: Expert call takeaways: Healthy travel demand. OTA competition benign, but hotel RevPar pressure may persist Following our takeaways report summarizing the travel trends during the past Golden Week holidays (Oct 10), we hosted a travel industry expert on Oct 15 who has over 20 years of experience in providing consultancy services to OTAs, chain/independent hotel operators and various tourism destinations across China. Key takeaways: (1) ove ...