The concept of fast casual restaurants came into existence in the late 90’s, however it gained much of the traction in 2009. The fast casual restaurants prepare fresh food rather than assembling them as in the case of fast food restaurant. High quality ingredients, locally sourced, fresh, and organic are the some of the many characteristics of the fast food restaurants. Furthermore, the prices of fast casual restaurants are higher than that of fast food restaurants but considerably lower than that for fine dining. The global fast casual restaurants market is analyzed on the basis of its prospects and future growth rate. The report highlights numerous factors that influence the growth of the global fast casual restaurants market. These include market forecast, drivers, restraints, opportunities, and role of key players operating in the market. By food type, the market is classified into burger/sandwich, pizza/pasta, Asian/Latin American Food, chicken, and others. By mode of operation, it is bifurcated into dine-in and takeaway. By nature, it is divided into franchised and standalone. Furthermore, it includes revenue generated from the sales of fast casual restaurants across North America, Europe, Asia-Pacific, and LAMEA.

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近五个交易日沪深 300 指数下跌 0.73%，休闲服务板块上涨 0.83%，行业跑 赢市场 1.56 个百分点，位列申万 28 个一级行业下上游。其中，景点上涨 4.84%，旅游综合上涨 0.93%，酒店下跌 6.30%，餐饮下跌 5.04%。

本周沪深300 上涨0.30%，创业板指下跌1.36%，餐饮旅游（中信）指数下跌1.68%（较沪深300的相对收益为-1.99%），在中信29 个子行业中排名第26 位。其中分子板块来看，景区板块本周上涨5.51%，旅行社板块下跌5.28%，酒店板块下跌3.39%，餐饮板块上涨2.54%。

中端酒店连锁化率与CR3 较高，龙头凭借产品优势占据主导地位。我们认为中端连锁酒店增长潜力较大，主要因中端门店数不足经济型1/10(截止20 年7 月21 日,下同）。以静态模型估计，中性/乐观情境国内中端连锁酒店客房数有9/52 万间增量，较现状增长12%/70%。考虑经济型酒店改造升级、中端加速展店及非标品牌拓展等积极因素，连锁酒店实际拓展空间将更大。龙头具规模和运营优势，份额有望提升，推荐龙头首旅酒店。