บทวิเคราะห์ (Research)

SHR : Favorable growth in 2H24F We remain positive on SHR following the analyst briefing. We have a BUY rating with Bt2.20 TP, premised on: (i) favorable earnings growth in 2H24F driven by stronger bookings and RevPAR, in line with guidance for 10-15% yoy growth supported by peak season and successful rebranding efforts; (ii) continued growth in 2025F fueled by rising travel demand, a revised pricing strategy, reopening of renovated hotels, and lower interest rates; and (iii) cheap valuation at only 7x 2024F EV/EBITDA vs 19x for the hotel sector, suggesting limited downside risk to the share price.