China OTAs_ Traveler Volume Growth a Bit Weak but Average Spending per Capita Showed YoY Improvement during CNY Holiday
AstraZeneca·2025-02-09 04:54
Flash | 05 Feb 2025 11:49:26 ET │ 10 pages CITI'S TAKE MCT reported travel traffic and industry revs were up 5.9/7.0% yoy 501mn/Rmb677bn during 8-day CNY holiday, implying average spending per capita +1%, while MOT reported national passenger throughput up 5.8% with volume of railway/airline/roadway/waterway +5/+3/+6/+7% during the holiday. OTAs' share prices corrected today, which we attribute to 1) passenger throughput growth not picking up in last two days of CNY holiday as some investors had expected, e ...