Hong Kong stock concept tracking | Online travel platform welcomes peak booking during the Spring Festival. OTA platform performance improvement has high certainty (with concept stocks attached)

The reporter learned from multiple online travel booking platforms that with the continuous expansion of the China visa-free friend circle, the proportion of long-distance travel in the Spring Festival tourism market has increased this year, with the average hotel booking days increasing from two days to three days; in terms of booking sources, the growth rate of out-of-town tourists and overseas tourists is obvious. On the 20th, the reporter saw at a business hotel in Jing'an District, Shanghai, that it was already decorated with lights. Being located in the city center with convenient transportation, the hotel's occupancy rate during the Spring Festival holiday has exceeded 80%, an increase of more than 20% compared to the same period last year. The general manager of a business hotel in Shanghai said that because it was a family trip, the booking of twin rooms has reached a situation where one room is hard to come by. According to the Ministry of Transport and Flight Housekeeper, it is expected that the railway and civil aviation passenger traffic volumes during the Spring Festival travel season will increase by 5.5% and 10.9% respectively, both reaching record highs, laying the foundation for the prosperity of Spring Festival travel consumption. CITIC Securities stated that the certainty of the increase in travel consumption volume for the 2025 Spring Festival is high, although there is still a price gap, it is showing signs of convergence. By 2025, with the expected recovery of demand under policy transmission and the positive promotion of industry supply improvement, attention should be paid to the price inflection point in the process of supply-demand restructuring. It is recommended to allocate OTA sectors with strong fundamental certainty, hotels, human resources that are expected to gradually reach operational inflection points, as well as high-quality stocks in catering, scenic spots, gambling, and focus on the trend of duty-free sector data. Hong Kong-listed tourism OTA sector leading companies: TONGCHENGTRAVEL (00780), TRIP.COM-S (09961)