Research reports on digging for gold丨swhy: The operational performance of shanghai jin jiang international hotels has significantly improved both domestically and internationally, and a "buy" rating is given for the first time.

Gelonghui Finance · Nov 22 15:41

swhy research points out that post-epidemic, grasping the industry's warming trend leads to stable operations, shanghai jin jiang international hotels (600754.SH) significantly improved its domestic and international business performance. In 2024, the company's domestic and international hotel RevPAR growth exceeded the level of the same period in 2019, showing steady growth. In terms of domestic business, in the first three quarters of 2024, the absolute value of domestic hotel RevPAR showed a steady upward trend, but compared to the same period, due to changes in supply and demand relationships and the rational recovery of tourism consumption, RevPAR was slightly under pressure. Looking ahead, the overall industry demand recovery is expected to drive continued OCC repair, further boosting RevPAR, empowering profit level growth, and driving performance elasticity. Based on the average valuation of comparable companies in 2024, the target market cap is 35.2 billion yuan, corresponding to a 23% increase in current market cap, first coverage, with a “buy” rating.

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研报掘金丨申万宏源：锦江酒店境内外经营表现大幅改善，首予“买入”评级

Research reports on digging for gold丨swhy: The operational performance of shanghai jin jiang international hotels has significantly improved both domestically and internationally, and a "buy" rating is given for the first time.

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