金吾财讯 | 凯悦酒店(H)盘中扬升，报194.43美元，涨2.80%。
消息面上，汇丰将凯悦酒店集团 (H) 评级由中性上调至买入，同步上调 2026-2027 年调整后 EBITDA 预估 2.4%，目标价抬升至 212 美元。机构看好公司客户结构偏中高净值、价格敏感度偏低，叠加股票回购计划，个股风险收益配置价值凸显。
分析师指出，公司投资者日与四季度财报落地后，高端可复制运营模式、长效增长逻辑得到验证。在建储备房源占现有供给四成，空白市场渗透空间充足，门店拓店转化率优于行业均值；会员体系持续抬升客房收入溢价，拉动客单价与复购、压降渠道费用，改善合作业主盈利水平，支撑行业领先的网点扩张速度。
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