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<Research>Citi: CN Travel Stable During New Yr Holiday; Cross-border Travel Data Shows Strong Performance
Recommend 3 Positive 11 Negative 3 |
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According to the Ministry of Culture and Tourism, during the three-day New Year holiday in 2026, domestic tourist number/ tourism revenue reached 142 million person times/ RMB84.79 billion, Citi Research issued a research report saying. Compared to the three-day holiday in 2024 (2025 New Year's was only a one-day holiday), the CAGR over two years were 2.6% and 3.1% each. The average spending per person was RMB597, a 1% decrease from the 2024 level. Citi Research believed that domestic travel during the 2026 New Year holiday was stable, but cross-border travel showed robust performance. However, the broker considered the upcoming Spring Festival to be more significant, and expected stronger performance, as the 2026 Spring Festival holiday lasts for nine days, one more than in 2025. Therefore, Citi Research kept ratings at Buy for TRIP.COM-S (09961.HK) and TONGCHENGTRAVEL (00780.HK). AASTOCKS Financial News Website: www.aastocks.com |
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