China Online Travel Agencies_ 3Q24 Preview and Golden Week Travel Update
ray dalio·2024-10-17 16:25
M Idea China Online Travel Agencies | Asia Pacific October 13, 2024 08:15 PM GMT 3Q24 Preview and Golden Week Travel Update Golden Week data came largely in line and 3Q guidance is well on track. We stay OW on China OTAs on resilient travel demand and easier comps ahead, with risk skewed to the upside on potential consumption recovery. Valuation is still attractive. Domestic tourists and receipts rose 5.9% and 6.3% YoY (adjusted for seven days in 2024 vs. 8 days in 2023), respectively, according to Minister ...