China's three-day mid-autumn holiday beginning Sept. 15 will be lackluster compared to 2023, offering weaker prospects for online travel companies such as Trip.com (HKG:9961) and Tongcheng Travel (HKG:0780), Jefferies said in a Sunday research note.
The less promising outlook is due to weak seasonality as this year's mid-autumn holidays occur between the summer vacation and national holidays, a focus on nearby and short-haul travels, greater same-province and one-day hotel bookings and a younger demographic, the research firm cited forecasts from Trip.com as saying.
Meanwhile, data from the Ministry of Transport on Sept. 14 shows passenger volume rising 4.9% compared to 2019, denoting a five-year compound annual growth rate of 1%, Jefferies said.
Compared to the year-ago period, passenger volume rose 41.6%.
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