With China re-opening, HLO could be the best way to play the tourism trade. Not only is it one of the cheapest sector operators in the market, it gets sector leverage via its CTD holding. Basically HLO is a leveraged play on tourism and despite higher interest rates, the market continues to grow.
Owning CTD shares provides two meaningful benefits for HLO holders. This is over and above the tailwinds that the HLO business is experiencing
(1) CAPITAL upside. The value of HLO's CTD shares are worth $13m more now than my original post in this thread and based on the trend in CTD shares - plus the outlook from brokers, this could be even higher
(2) INCOME upside. Goldman Sachs, which covers CTD estimate that in FY2023, CTD will pay total dividends of 34c. This will provide direct income to HLO shareholders of $1.2m. The story gets even better next year, with CTD dividends forecast to rise to 57c per share, providing income of $2m
(20min delay)