According to Tan, Thailand is expected to see a strong growth in tourism. This bodes well for Banyan Tree, as Thailand is its largest revenue contributor by geography.
SINGAPORE (July 17): Phillip Capital is maintaining its “accumulate” call on Banyan Tree Holdings with a target price of 73 cents.
“Outlook is positive as we expect the strong RevPAR growth in the group’s biggest market in Thailand to be sustainable, underpinned by the ongoing recovery in the tourism industry,” says analyst Dehong Tan in a Monday report.
