[ET Net News Agency, 16 November 2017] Deutsche Bank lifted its target price for
Shangri-La Asia (00069) to HK$20 from HK$17, and reiterated its "buy" rating.
The research house said business travel demands are rising in China on back of a
stronger economy. According to 2017 Amex Business Travel survey, 31% of Chinese corporate
respondents expect to increase travel budgets next year, up from 17% this year.
DB said this bodes well for Shangri-la as business travellers account for >65% of its
room nights. In fact, many global luxury hotel groups, including Marriott and Inter-
Continental, reported strong and accelerating China RevPAR growth in 3Q to 8-13% yoy.
The research house lifted Shangri-la's China RevPAR (local currency) by 2ppt to 13% yoy
for 2H, up from 10% yoy in 1H. On back of brighter RevPAR outlook, it also lifted net
profits forecasts by 10% in 2018, and 14% in 2019. (KL)
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00069 SHANGRI-LA ASIA
Nominal 
5.020 +0.200 (+4.149%) Others
16/11/2017 17:42
[I-bank focus]DB lifts Shangri-La Asia (00069) to HK$20
| Remark: | Real time quote last updated: 24/09/2024 17:59 |
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