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| HSCEI1 | 8,216.84 | +51.06 | 51.28B |
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2026-09-24 11:24:30 Hotel surveys for this year's Golden Week in Oct revealed hotel demand was roughly flat YoY, Morgan Stanley said in a research report. Occupancy rates were 6 ppts lower than the May Golden Week period and 4 ppts lower than the Oct Golden Week last year, although average room rates were higher. Demand during the Oct Golden Week was relatively soft, possibly as a result of the strong performance during the Mid-Autumn Festival and the close proximity between the two holidays, the broker noted, expecting Sep GGR to grow by a HSD percentage YoY, while Oct GGR would remain roughly flat. After a year of continuous downward revisions to earnings forecasts, the industry may be approaching a trough, the broker opined. However, market forecasts for EBITDA in 3Q26 and 2026 remain elevated. It favored GALAXY ENT (00027.HK) and WYNN MACAU (01128.HK) due to their competitive market share, better-than-market-expected EBITDA in 3Q, and higher dividend yields. ~ AASTOCKS Financial News Website: www.aastocks.com | |