Welcome to our dedicated page for GreenTree Hospitality Group Ltd. American depositary shares, each representing one news (Ticker: GHG), a resource for investors and traders seeking the latest updates and insights on GreenTree Hospitality Group Ltd. American depositary shares, each representing one stock.
GreenTree Hospitality Group Ltd. (NYSE: GHG) is a prominent hospitality and restaurant management company headquartered in Shanghai, China. Founded in 2004, GreenTree operates a vast network of hotels and restaurants exclusively in China. The company is a subsidiary of GreenTree Inns Hotel Management Group, Inc.
GreenTree primarily manages franchised and managed hotels under various brand names such as GreenTree Inns, GreenTree Eastern, Gme, Gya and VX, along with other brands including GreenTree Alliance and Vatica. As of December 31, 2023, GreenTree boasts a network of 4,238 hotels and 194 restaurants, making it a significant player in the Chinese hospitality industry.
The company's hotel network covers all centrally administered municipalities and cities across all provinces and autonomous regions in China. This extensive reach ensures a broad customer base and brand recognition within the market. In 2023, HOTELS magazine ranked GreenTree 12th among the 225 largest global hotel groups by the number of hotels, highlighting its prominent market presence.
Financially, GreenTree has demonstrated resilience and growth. For the fiscal year ending December 31, 2023, the company reported total revenues of RMB 1,627.3 million (US$229.2 million), marking a 10.8% year-over-year increase. The net income for the same period was RMB 310.6 million, a significant recovery from a net loss of RMB 446.1 million in 2022.
Recent developments include the acquisition of two well-known restaurant chains, Da Niang Dumplings and Bellagio, thus marking GreenTree's foray into the restaurant business to complement its hotel operations. The company has since focused on expanding its franchised-and-managed restaurants while closing unprofitable stores to ensure profitability.
Operational highlights for 2023 show a robust recovery in the hospitality industry post-pandemic, with a significant increase in RevPAR (Revenue per Available Room) and continued expansion of its hotel network. GreenTree's strategy involves leveraging its strong membership base, expansive booking network, and superior system management to maintain close relationships with clients and partners.
The company continues to provide high-quality service and value, supported by its operating departments including Decoration, Engineering, Purchasing, Operation, IT, and Finance. GreenTree's ability to adapt to market conditions and its strategic expansions position it well for sustained growth and stability in the competitive hospitality market.
GreenTree Hospitality Group reported a challenging Q3 2024, with total revenues decreasing 22.5% year-over-year to RMB357.0 million (US$50.9 million). The company experienced declines across key metrics, with income from operations falling to RMB106.4 million and net income dropping to RMB65.2 million. Hotel performance showed weakness with RevPAR decreasing 13.6% and occupancy rate declining to 74.6% from 81.2%. The company operated 4,336 hotels with 316,461 rooms and maintained a pipeline of 1,085 hotels. The restaurant segment saw significant declines with ADS decreasing 25.6% to RMB4,891, though stabilizing at 182 locations.
GreenTree Hospitality Group (NYSE: GHG), a leading hospitality management group in China, has announced it will release its unaudited financial results for the third quarter ended September 30, 2024 on Thursday, November 21, 2024. The company will host an earnings conference call at 8:00 AM U.S. Eastern Time (9:00 PM Beijing/Hong Kong Time) on the same day. The announcement includes international dial-in numbers for the live conference call and replay details, which will be available until November 28, 2024. A live and archived webcast will be accessible on the company's investor relations website.
GreenTree Hospitality Group (NYSE: GHG), a leading hospitality and restaurant management group in China, has announced a cash dividend of US$0.10 per ordinary share or ADS. The dividend will be paid to shareholders of record as of September 30, 2024. Payment is expected around October 16, 2024 for ordinary shareholders and October 23, 2024 for ADS holders. The total cash distribution is estimated at US$10 million. GreenTree also confirmed its commitment to continue its planned share buyback program, emphasizing its focus on sustainable profitable growth and shareholder value.
GreenTree Hospitality Group (NYSE: GHG) reported a 20.5% YoY decrease in total revenues to RMB 329.7 million (US$45.4 million) for Q2 2024. Income from operations fell to RMB 84.4 million (US$11.6 million) compared to RMB 98.6 million in Q2 2023. Net income dropped to RMB 62.3 million (US$8.6 million), down from RMB 101.9 million. Adjusted EBITDA (non-GAAP) also decreased 34.5% YoY to RMB 83.1 million (US$11.4 million).
Operationally, the company had 4,272 hotels and 183 restaurants as of June 30, 2024. Hotel revenues decreased by 14.8% YoY, driven by a 10.8% decline in RevPAR and strategic closures. Restaurant revenues declined by 37.8% due to a reduction in ADS and store closures.
Guidance for 2024 is revised to remain flat compared to 2023, reflecting the economic challenges and closures. The board approved a dividend of US$0.10 per ADS payable on September 30, 2024. The company will hold an earnings call on August 15, 2024.
GreenTree Hospitality Group (NYSE: GHG), a leading hospitality management group in China, has announced it will report its unaudited financial results for the second quarter ended June 30, 2024, on Thursday, August 15, 2024. The company will hold an earnings conference call at 8:00 AM U.S. Eastern Time (8:00 PM Beijing/Hong Kong Time) on the same day. Dial-in numbers for various regions have been provided for interested participants. A telephone replay of the conference call will be available until August 22, 2024. Additionally, a live and archived webcast of the call will be accessible on the company's investor relations website at http://ir.998.com.
GreenTree Hospitality Group (NYSE: GHG) announced its financial results for Q1 2024. Total revenues declined by 7.1% year-over-year to RMB352.2 million (US$48.8 million). Despite this, hotel revenues increased by 8.8% to RMB274.8 million. Income from operations grew to RMB72.2 million (US$10 million) from RMB52.3 million in Q1 2023, and net income also rose to RMB57.3 million (US$7.9 million) from RMB32.6 million. Adjusted EBITDA saw a 17.2% increase to RMB109.4 million (US$15.2 million), and core net income went up by 21.5% to RMB60.7 million (US$8.4 million).
Operationally, the company managed 4,256 hotels and 185 restaurants as of March 31, 2024. The average daily room rate and average check saw growth, but occupancy rates and average daily sales per store declined. The company is optimistic about its hotel segment, projecting a 7-12% revenue increase for 2024, while guidance for the restaurant business has been withdrawn due to strategic repositioning.
GreenTree Hospitality Group (NYSE: GHG) announced it will release its unaudited Q1 2024 financial results on June 25, 2024. The earnings report will cover the quarter ending March 31, 2024. A conference call to discuss the results will be held on the same day at 8:00 AM U.S. Eastern Time. International participants can dial 1-412-902-4272, while U.S. participants can use 1-888-346-8982. Replay options will be available until July 2, 2024, via 1-877-344-7529 (U.S. Toll-Free) or 1-412-317-0088 (International).
A live and archived webcast of the conference call will be accessible on the company’s investor relations website at http://ir.998.com.
GreenTree Hospitality Group (NYSE: GHG) filed its annual report on Form 20-F for the fiscal year ending December 31, 2023. The report is available on the Company's investor relations website and the SEC's website. Shareholders and ADS holders can request a hard copy of the report for free.
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