Indians Cancelled 8,000 Bookings to Maldives
Photo Credit: Ritz-Carlton Maldives Fari Islands from above. Pontiac Land Group
Skift Take
India has now slipped to the fifth position for tourist arrivals into Maldives in January, with just over 13,000 visitors. This is per the latest data from the Maldives tourism industry and is quite different than the commentary last week from the Maldives.
JP Morgan initiated coverage on the China hotel sector with a Cautious stance. They see H World emerging as the industry winner in a tough environment and is their only Overweight rating. They initiated on both BTG/JinJiang with Underweight ratings. JP Morgan’s data tracker suggests downside risks to the sectors hotel additions/RevPAR/earnings in 2024 due to macro headwinds to demand, especially for BTG/JinJiang. Other analysts are suggesting 30%-40% FY24 EPS growth. JP Morgan expects H World to meet their reasonable expectations of mid-teens recurring profit growth despite industry headwinds. They are expecting Chinese hotel operators’ 2024 guidance in March to be a negative catalyst for share prices.
Skift, parent company of this publication, said India has now slipped to the fifth position for tourist arrivals into Maldives (free read) in January, with just
