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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 0.34% 38.76 Real-time Quote.4.45%
        CHINA LNTERNATIONAL TRAVEL SERVICE CORPORATION LIMITED 1.07% 87.2 End-of-day quote.44.85%
        HUAZHU GROUP LIMITED -0.17% 34.44 Delayed Quote.20.29%
        INTERCONTINENTAL HOTELS GROUP PLC 1.71% 4838 Delayed Quote.14.10%
        MARRIOTT INTERNATIONAL 1.42% 142.29 Delayed Quote.31.07%
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        Financials (CNY)
        Sales 2019 46 553 M
        EBIT 2019 7 302 M
        Net income 2019 4 705 M
        Finance 2019 15 060 M
        Yield 2019 0,92%
        P/E ratio 2019 35,8x
        P/E ratio 2020 32,4x
        EV / Sales2019 3,33x
        EV / Sales2020 2,76x
        Capitalization 170 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 20
        Average target price 104,52  CNY
        Last Close Price 87,20  CNY
        Spread / Highest target 51,4%
        Spread / Average Target 19,9%
        Spread / Lowest Target -8,26%
        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 LIMITED44.85%24 201
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        TRIP.COM GROUP LIMITED21.47%19 341
        EXPEDIA GROUP, INC.-4.50%15 587
        TRIPADVISOR-46.16%4 048
        TONGCHENG-ELONG HOLDINGS LTD--.--%3 467
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