Asian Equities Analyst, Logistics & Transport

Tracking Traffic

Focusing on Asian logistics, transportation, and travel companies

Trip.com Q3 Quick Take: Net Inc > Consensus | Progress on Expenses | But Not a Game-Changer

Monthly Chinese Tourism Tracker | Recovery Still Sluggish | Trip.com as Value Name | (November 2023)

12 Months In, China's Tourism Recovery & Performance of China Tourism Shares Have Both Disappointed

Quick Take on 'Golden Week' Headline Tourism Traffic: Limited Improvement, & Shy of Expectations

Trip.com Q223 Quick Take: Revenue, EPS > Consensus | Guidance? Not Much | Still No Upside Surprises

Monthly Chinese Tourism Tracker | 'Pent-Up' Travel Demand -- Does China Have Any? | (September 2023)

Asian Equities Analyst, Logistics & Transport, Tracking Traffic

Daniel Hellberg

Equity Bottom-Up

<ul>
<li>September outbound tourism metrics plummeted, in some cases to levels seen in Q223</li>
<li>Domestic air travel demand also fell vs August; normal seasonal patterns are dominating</li>
<li>As recovery fizzles, travel shares languish, and we see few reasons for optimism, near-term</li>
</ul>


September outbound tourism metrics plummeted, in some cases to levels seen in Q223
Domestic air travel demand also fell vs August; normal seasonal patterns are dominating
As recovery fizzles, travel shares languish, and we see few reasons for optimism, near-term


Mandarin Oriental International (MAND SP)

Beijing Capital International Airport (BCIA) (694 HK)

Beijing Capital International Airport (BCIA)

Monthly Chinese Tourism Tracker | Tourism Recovery Derailed By Normal Seasonality | (October 2023)