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BTG Hotels' Revenue Could Grow, Helped by New Online Shopping Platform -- Market Talk

Dow Jones Newswires ·  2021/10/22 00:40

0439 GMT - BTG Hotels' revenue per available room could grow to 85%-90% of 2019 levels in 4Q, assuming no fresh Covid outbreaks in China, Jefferies says. The U.S. bank points out that revenue per available room in July reached 97% of July 2019's level, but the August figure dropped to 48% due to a resurgence of Covid in Nanjing. Jefferies says the hotel operator's value-creation measures will be in focus, especially its recently launched online-shopping platform to allow hotel members to buy duty-free overseas products. It keeps a buy rating and CNY31 target price on BTG Hotels, which is 1.6% higher at CNY23.50. (yongchang.chin@wsj.com)

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