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MarketScreener Homepage  >  Equities  >  SHANGHAI STOCK EXCHANGE  >  China lnternational Travel Service Corporation Limited    601888   CNE100000G29

CHINA LNTERNATIONAL TRAVEL SERVICE CORPO

(601888)
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China's Huazhu to buy German luxury hotel group Steigenberger

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11/11/2019 | 10:49am EST

China's Huazhu Group is buying the Steigenberger hotels as it seeks to extend its global reach with the addition of one of Germany's most well-known upmarket chains.

Huazhu, already the world's fifth-largest hotel group by market capitalisation, is paying 700 million euros ($781 million) in cash for Steigenberger parent Deutsche Hospitality.

That values Deutsche Hospitality, whose brands include MAXX by Steigenberger, Jaz in the City, IntercityHotels and Zleep at 17-18 times its 2019 expected earnings before interest, tax, depreciation and amortization or at less than 10 times expected 2022 core earnings.

Peers such as Marriott, Hilton, Accor, InterContinental and Hyatt trade at 11-14 times their expected core earnings over the next twelve months, while China International Travel and smaller peer Huazhu both trade at more than 20 times.

Huazhu, based in China and listed in New York, operates hotels using a franchise model and on leased properties, opens 1,000 hotels each year. The acquisition will add to its more than 5,000 hotels.

Deutsche Hospitality operates 118 hotels and has 36 hotels under development, with a focus on Europe. It has plans to increase that number to 250 by 2024.

"With the help of Huazhu that will go faster than 2024," Huazhu Chief Executive Jenny Zhang told Reuters, adding that four of five Deutsche Hospitality brands will be rolled out in China.

No job cuts are planned as part of the deal, she said, adding that Huazhu does not expect to encounter any issues with antitrust regulators or German authorities overseeing foreign investments in the country.

Huazhu is buying Deutsche Hospitality from Egyptian tourism entrepreneur Hamed El Chiaty, who bought the group from the Steigenberger family in 2009. El Chiaty will stay invested in a Middle East joint venture.

(Reporting by Arno Schuetze; editing by Emelia Sithole-Matarise)

Stocks mentioned in the article
ChangeLast1st jan.
ACCOR 2.44% 40.79 Real-time Quote.9.92%
CHINA LNTERNATIONAL TRAVEL SERVICE CORPORATION LIMITED 1.49% 90.12 End-of-day quote.47.51%
HUAZHU GROUP LIMITED 5.89% 36.87 Delayed Quote.28.78%
INTERCONTINENTAL HOTELS GROUP PLC -0.34% 4890 Delayed Quote.15.41%
MARRIOTT INTERNATIONAL 0.73% 146.16 Delayed Quote.34.64%
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Financials (CNY)
Sales 2019 46 600 M
EBIT 2019 7 279 M
Net income 2019 4 707 M
Finance 2019 15 060 M
Yield 2019 0,89%
P/E ratio 2019 37,0x
P/E ratio 2020 33,5x
EV / Sales2019 3,45x
EV / Sales2020 2,87x
Capitalization 176 B
Chart CHINA LNTERNATIONAL TRAVEL SERVICE CORPORATION LIMITED
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China lnternational Travel Service Corporation Limited Technical Analysis Chart | MarketScreener
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Technical analysis trends CHINA LNTERNATIONAL TRAVEL
Short TermMid-TermLong Term
TrendsNeutralNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 21
Average target price 106,52  CNY
Last Close Price 90,12  CNY
Spread / Highest target 46,5%
Spread / Average Target 18,2%
Spread / Lowest Target -7,90%
EPS Revisions
Managers
NameTitle
Hui Peng Director
Feng Zhao Member-Supervisory Board
Xian Jun Chen Director
Yan Liu Independent Director
Bin Wang Independent Director
Sector and Competitors
1st jan.Capitalization (M$)
CHINA LNTERNATIONAL TRAVEL SERVICE CORPORATION LIMITED47.51%24 740
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TONGCHENG-ELONG HOLDINGS LTD--.--%3 266