Key Indices
Top Stories
Sector Update | Hotel
- The Middle East conflict has stabilised, supporting the recovery in long-haul tourist arrivals and airfare normalisation. We expect strong tourism momentum in 2H26-1Q27, driven by major events and robust hotel bookings. Hotel RevPar should grow by mid-single to mid-teens yoy in 3Q26, supported by Chinese tourist arrivals. Hence, we expect a robust earnings outlook for the hotel business in 3Q26. Meanwhile, airline earnings should improve qoq despite elevated fuel prices. We maintain OVERWEIGHT, with CENTEL, AWC, ERW and AOT as top picks.
Top Stories
Sector Update | Hotel
- The Middle East conflict has stabilised, supporting the recovery in long-haul tourist arrivals and airfare normalisation. We expect strong tourism momentum in 2H26-1Q27, driven by major events and robust hotel bookings. Hotel RevPar should grow by mid-single to mid-teens yoy in 3Q26, supported by Chinese tourist arrivals. Hence, we expect a robust earnings outlook for the hotel business in 3Q26. Meanwhile, airline earnings should improve qoq despite elevated fuel prices. We maintain OVERWEIGHT, with CENTEL, AWC, ERW and AOT as top picks.
Key Indices
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