Vi e w p o i n t | 19 Dec 2025 01:25:00 ET │ 14 pages China Tourism Monthly Encouraging Growth Trend in Nov 25': Hotel RevPAR (+2.1% YoY) & Hainan DFS (+27% YoY) CITI'S TAKE We provide our monthly update on China tourism sector, mainly focusing on trends in lodging, Hainan duty free and Chinese outbound travel. In Nov 2025, 1) China hotel blended RevPAR remained resilient, +2.1% yoy vs. +2.6% yoy in Oct. We expect stable RevPAR trend likely to sustain in Dec. Atour is our hotel top pick, expecting rapid hot ...