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Brokerage Focus: Guosen Securities maintains a 'buy' rating for Tongcheng Travel (00780) and expects the company's core OTA year-on-year growth rate to be faster in the second half of the year than in the first half.
Jingu Financial Information | Pu Yin International's research report pointed out that the core business of tongchengtravel (00780) is expected to grow steadily, and the volume of summer travel shows an increase in quantity with a decrease in price. According to the forecast of the Civil Aviation Administration, the total number of summer passenger transportation is expected to reach 0.133 billion people, an increase of 10% over 2019. The demand for outbound tourism is strong, international route capacity has significantly increased, and the international hotel supply chain has basically returned to the level of 2019. According to the big data of aviation and travel, the volume of inbound and outbound passenger transportation has increased by about 70% year-on-year in the first half of the summer season. With the rapid improvement of the supply side, the average prices of air tickets and hotels have gradually returned to normal, with a slight year-on-year decrease.
As the Olympics are about to begin, Feizhu and Tongcheng have released data: flight bookings to France have increased by more than 70% compared to last year.
Sina Technology reported on the evening of July 24th that the Paris Olympics will begin on July 26th. Data from Fliggy shows that since July, the number of airline ticket bookings to France has increased by over 70% YoY, while the number of hotel bookings in France has increased by more than 1.5 times YoY. The transaction amount of visa application service to France has also increased by over 1.4 times YoY. Marseille and Bordeaux, both known as "Olympic cities," are also popular among Chinese tourists. Since July, the number of flight bookings to Marseille and Bordeaux on Fliggy has doubled. Data from Tongcheng Travel platform shows that the booking heat for flights from major domestic cities to Paris in the first week of the Olympics is the same.
CITIC Securities: Domestic tourism is expected to remain stable this summer, while the demand for outbound tourism continues to recover.
Domestic tourism during the summer is expected to remain stable, while demand for outbound tourism continues to recover. The resilience of leisure travel consumption demand continues to be validated.
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