Goldman Sachs Reiterates Buy on China Lodging Group

In a new research report released earlier today, Goldman Sachs has reiterated its Buy rating on China Lodging Group Ltd.

. According to Goldman Sachs, “China Lodging reported 4Q11 net revenue of Rmn651 mn, up 44% yoy, towards the high end of its guidance range, largely in line with our estimates. Excluding the impact of 2010 Shanghai Expo, management estimated that on a same-hotel basis, RevPAR grew by c.3% in 2011. Management released 2012E revenue growth guidance range of up to 37.5% yoy, 2% above Bloomberg consensus and in line with our forecast. Apart from factoring in a 240-hotel addition, management guided a 0% to 3% RevPAR hike assumption.” Goldman Sachs maintains its $19 PT on China Lodging Group, which is currently trading at $15.26.