Hospitality

Hospitality: Barring unforeseen events, CIMB is upbeat on hospitality as positives outweigh negatives. Contingent on a recovering global economy, holidaying and corporate tourists may choose to extend their stay in Singapore. This comes amid an expectation of improved cruise business, and a full year of MICE events. Chinese tourists growth expected at high-single-digit to double-digit. Hotel plays can benefit from the higher corporate spending and stronger demand for hotel rooms. Risks to medical tourism from weaker rupiah should be mitigated by higher spending from China, Vietnam and India. CDLHT is CIMB’s top hospitality pick , followed by OUEHT.