T. H. Data Flash – China Lodging Group, Ltd. – November & 4Q18: Expect Better 4Q18 Performance on Higher RevPAR Driven by Both ADR & Occupancy Rate; Maintain BUY
We are positive on HTHT into 4Q18 results as a result of better RevPAR and hotel volume growth. The growth of RevPAR was driven by both ADRs and occupancy rate growth. One of the factors that contributed to the growth in occupancy rate was the International Import Expo held in Shanghai in early November 2018. We maintain our BUY rating.