中银国际：同程旅行收购万达酒店管理将带来最少5%全年收入增长

智通财经04-22

该行认为，若相关交易能在今年下半年完成，将通过切入高端酒店领域显著增强同程的酒店管理业务。

中银国际发布研报称，同程旅行(00780)上周四(17日)宣布拟以24.97亿元人民币对价，收购万达酒店管理。该行认为，尽管该交易116倍的2024年市盈率初看偏高，但剔除非经营性亏损影响后，经调整的经营利润倍数仅为10.6倍，估值趋于合理。

该行认为，若相关交易能在今年下半年完成，将通过切入高端酒店领域显著增强同程的酒店管理业务。该行预计，该资产全年可为同程至少带来5%的收入增长及经调整营运利润提升。中银国际亦指，持续看好同程的发展前景，认为其通过并购强化差异化服务能力的战略方向正确。追加内容

本文作者可以追加内容哦 !

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alexlee
04-22
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href=http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN20250422151442a4621324&s=b><strong>智通财经</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>该行认为，若相关交易能在今年下半年完成，将通过切入高端酒店领域显著增强同程的酒店管理业务。中银国际发布研报称，同程旅行(00780)上周四(17日)宣布拟以24.97亿元人民币对价，收购万达酒店管理。该行认为，尽管该交易116倍的2024年市盈率初看偏高，但剔除非经营性亏损影响后，经调整的经营利润倍数仅为10.6倍，估值趋于合理。该行认为，若相关交易能在今年下半年完成，将通过切入高端酒店领域显著...</p>\n\n<a href=\"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN20250422151442a4621324&s=b\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"LU0315179316.USD":"EASTSPRING INVESTMENTS ASIAN DYNAMIC \"A\" (USD) ACC","BK1615":"港股-互联网","SG9999001226.SGD":"UNITED SUSTAINABLE ASIA TOP 50 \"A\" (SGD) ACC","LU1115378108.SGD":"Eastspring Investments - Global Emerging Markets Dynamic AS SGD","00169":"万达酒店发展","00780":"同程旅行","BK1164":"酒店、度假村与豪华游轮","LU2460026573.USD":"abrdn SICAV I -  CHINA NEXT GENERATION \"A\" (USD) ACC","SG9999001051.SGD":"United 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