TC

22/08/2019 16:00

{I-bank focus}Daiwa cuts Shangri-La Asia (00069) to HK$8.8

[ET Net News Agency, 22 August 2019] Daiwa Research cut its target price for Shangri-La
Asia (00069) to HK$8.8 from HK$9 and maintained its "hold" rating.
The research house said Shangri-La posted a weak set of 1H results. The decline in group
RevPAR came in slightly better than Daiwa's estimate. Daiwa still looks for RevPAR growth
of most regions to improve HoH in 2H, but it forecast a capitulation in the RevPAR for
Shangri-La's Hong Kong hotels (about -30%) in 2H.
Daiwa said the ongoing protests in Hong Kong have greatly reduced the occupancy of
Island Shangri-La, which was estimated to be at 50-55% in July while August is likely to
be below 50%. Daiwa trimmed its 2019-21 aggregate EBITDA by 4-6% on further operating
deleverage and higher staff costs. (KL)

etnet財經‧生活App   財智‧健康‧品味生活     【立即下載】  iOS版 / Android版
人氣文章
財經新聞
評論
專題
產品簡介

【etnet Bonus賞你】好好社企 中秋精選月餅禮盒

【etnet Bonus賞你】領展TKO Gateway便攜式香薰機

【etnet Bonus賞你】荃灣千色匯及元朗千色匯 x 韓國紙雕插畫藝術家Soo Min Kim 消暑手搖沙冰杯+簡約家用收納箱