China's Mid-Autumn Holiday Offers Weaker Prospects for Online Travel Companies, Jefferies Says

MT Newswires Live09-17

China's three-day mid-autumn holiday beginning Sept. 15 will be lackluster compared to 2023, offering weaker prospects for online travel companies such as Trip.com (HKG:9961) and Tongcheng Travel (HKG:0780), Jefferies said in a Sunday research note.

The less promising outlook is due to weak seasonality as this year's mid-autumn holidays occur between the summer vacation and national holidays, a focus on nearby and short-haul travels, greater same-province and one-day hotel bookings and a younger demographic, the research firm cited forecasts from Trip.com as saying.

Meanwhile, data from the Ministry of Transport on Sept. 14 shows passenger volume rising 4.9% compared to 2019, denoting a five-year compound annual growth rate of 1%, Jefferies said.

Compared to the year-ago period, passenger volume rose 41.6%.

Price (HKD): $368.00, Change: $-3.8, Percent Change: -1.02%

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment