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March 29, 2024

[EQUITIES] ‘Hotel Shilla to gain momentum next year’

PUBLISHED : November 21, 2017 - 10:58

UPDATED : November 21, 2017 - 10:58

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[THE INVESTOR] Hotel Shilla’s earnings improvement will be accelerated next year as tourism from China recovers, said Shinhan Investment on Nov. 21, raising the target price to 110,000 won (US$100.29) from 93,000 won.




Factoring in the Korea-China summit meeting in December and PyeongChang Winter Olympics next year, estimates of Chinese inbound visitors has been raised to 7.8 million from 7.4 million, said analyst Seong Jun-won. The number of monthly visitors will top 500,000 in the first quarter, he added.

This will boost Hotel Shilla’s operating profit in the duty-free sector next year to 134.6 billion won, up 93.7 percent on-year, and that of the whole company will double to 159.5 billion won, forecast the analyst. 

Revenue from duty-free stores in Korea will improve significantly and earnings from hotel and leisure sector will advance as well, said Seong maintaining a “buy” recommendation. 

By Hwang You-mee (glamazon@heraldcorp.com)

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