SINGAPORE (Apr 10): CIMB is maintaining its "overweight" on the hospitality sub-sector given expectations of an earlier and stronger than expected recovery in industry RevPAR.
Unlike the residential and office sub-segments such which could face higher supply come 2021, CIMB says hotels have minimal new supply.
"Hence, the cyclical recovery could potentially lead to a multi-year upswing," says analyst Yeo Zhi Bin in a Monday report.
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