April 26, 2024

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[THE INVESTOR] Hotel Shilla is garnering expectations for growth next year, said Shinhan Investment on Nov. 22 maintaining a “buy” recommendation and 108,000 won (US$95.69) target price. 

Its operating profit in the fourth quarter will surge 297 percent on-year to 61.6 billion won with record-breaking operating profit of 243.3 billion won this year, and 271.5 billion won in 2019. Its stock price has been declining over the past three months from concerns over China’s e-commerce regulations, but they are unlikely to be imposed, while group tourists from China will increase from early next year, said analyst Seong Jun-won.

The competition over commissions among outlets in downtown Seoul has waned and it is seemingly unfettered by the opening of Hyundai’s duty-free store in southern Seoul, noted the analyst.

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