Consumer Travel Platform Regulation Supports Long-Term Ecosystem Stability, Guotai Haitong Says

Guotai Haitong said that after platform conduct is standardized, the market structure is expected to remain stable, and international business will be a long-term turning point for platform value revaluation. According to Jin10, the firm said regulatory measures have been implemented, business remediation has met expectations, and improved certainty will support valuation recovery. Guotai Haitong also said the OTA industry is low-frequency and strongly shaped by brand recognition, while factor and platform strategic cooperation remains stable, so the industry structure will continue to stay stable. It said overseas expansion will create long-term revaluation room, and that Ctrip Group's leading market share in Southeast Asia, East Asia, and South America, along with a rising share of overseas revenue and profitability, will be key catalysts and a long-term turning point for value revaluation.