汇丰研究报告指，虽然内地旅游需求持续坚韧，但酒店供应过剩对每间可售房收入(RevPAR)构成压力，而华住集团(01179.HK) (HTHT.US) 今年首季Legacy-Huazhu分部(即华住及其附属公司，不计入德意志酒店)的RevPAR按年跌3.9%，低于全年目标；经调整EBITDA仅增长5.8%，幅度只略为高于收入增长的5.5%；Legacy-DH分部的EBITDA亏损扩大至7,700万元人民币，而去年同期亏损为6,600万元人民币。
该行认为，虽然集团旗下管理加盟及品牌加盟的贡献增加，令集团盈利对RevPAR的敏感度下降，但其影响依然存在；将全年经调整EBITDA预测下调4%至75.21亿元人民币，净利润预测下调3%至43.7亿元人民币；港股目标价由27.38港元降至26.83港元，美股目标价由35.1美元降至34.4美元，维持“持有”评级。(ss/u)(港股报价延迟最少十五分钟。沽空资料截至 2025-05-21 16:25。) (美股为即时串流报价； OTC市场股票除外，资料延迟最少15分钟。)
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