For Global Higher Education Market we have studied public and private institutions and student enrolment growth over past years. Data synthesis on Independent Variables has been performed such as Economic Factors (Economy performance by region, inflation, Currency fluctuations, urbanization and others); Industry Factors (total student enrolments, international student enrolment, average annual tuition fee, other variables involved in industry revenue, impact of COVID-19 and Russia- Ukraine war and other.

供给端较19年同期仍有明显缺口，但需求端的波动导致板块预期有所调整；未来6月至8月底酒店板块景气度处于稳定上升期，看好23年年内受强劲的旅游需求拉动，板块经营数据较19年的恢复度进一步走高，驱动板块估值修复。新一轮周期中代表产品迭代方向的中高端酒店龙头将具备更高的成长性，推荐处于快速成长期的君亭酒店、国改有望推进的金陵饭店，建议关注美股标的亚朵（ATAT.O）。中长期看，行业龙头壁垒深厚、拓店稳健、长期竞争格局清晰，仍具备较强的配置价值，推荐锦江酒店、华住集团、首旅酒店。