【英文】HSBC报告:中国旅游与酒店业:连锁反应给了酒店领导者成长的空间

Mid-end chain leaders are likely to benefit from the industry trough We believe that the growth of leading mid-end chain players will rely on their brand building ability and improvements in the industry cycle. This is a cyclical sector due to the heavy upfront capex involved and long payback peri