0347 GMT - Erawan Group faces an earnings hit from a slowdown in short-haul travelers to Thailand and the impact of the earthquake in late March, Maybank Securities (Thailand)'s Boonyakorn Amornsank says in a note. These two headwinds led to a 9% on-year drop in 2Q revenue per available room for the Thai company's non-budget hotel segments, the analyst estimates. The hotel operator also faces competition in Bangkok from new hotel supply. The brokerage cuts its 2025 earnings estimates for Erawan Group by 8% and lowers the stock's target price to THB3.00 from THB5.00. However, its high-margin budget segment under 'HOP INN' brand should help limit the downside in earnings, says the brokerage, which maintains a buy rating on the stock, which is 1.9% lower at THB2.06. (ronnie.harui@wsj.com)
(END) Dow Jones Newswires
June 11, 2025 23:47 ET (03:47 GMT)
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