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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 Ltd. (NYSE: GHG) will hold its annual general meeting on December 15, 2021, to approve the re-appointment of Ernst & Young Hua Ming LLP as independent auditor for the fiscal year ending December 31, 2021. Shareholders of record as of November 15, 2021 can vote. The notice and the 2020 annual report are available on the Company's Investor Relations website. GreenTree is a leading hospitality management group in China, operating 4,464 hotels as of March 31, 2021.
GreenTree Hospitality Group Ltd. (NYSE: GHG) will announce its unaudited financial results for Q2 2021 after U.S. markets close on November 15, 2021. An earnings conference call is scheduled for 8:00 PM ET on the same day, with international dial-in numbers provided. As of March 31, 2021, GreenTree operated 4,464 hotels and ranked among the top hospitality groups in China.
GreenTree Hospitality Group reported strong financial results for Q1 2021, with revenues increasing 53.3% year-over-year to RMB241.2 million (US$36.8 million). Income from operations rose 64.9% to RMB61.4 million (US$9.4 million). Adjusted EBITDA surged 74.3% to RMB64.0 million (US$9.8 million). Core net income also grew 58.3% to RMB43.9 million (US$6.7 million). The company expanded its hotel network, operating 4,464 hotels across 353 cities, with a 16.1% increase in occupancy rates compared to Q1 2020.
GreenTree Hospitality Group Ltd. (NYSE: GHG) will announce its unaudited financial results for Q1 2021 on July 28, 2021, after U.S. markets close. An earnings conference call will follow at 9:00 PM ET. GreenTree operates 4,340 hotels as of December 31, 2020, and is ranked among the top hospitality groups in China. The company focuses on providing a strong brand portfolio, catering to different market segments, and maintaining quality service. Interested parties can join the call using provided dial-in numbers.
GreenTree Hospitality Group Ltd. (NYSE: GHG) filed its annual report on Form 20-F for the fiscal year ended December 31, 2020, with the SEC on April 30, 2021. As of the end of 2020, GreenTree operated 4,340 hotels and ranked among the top 12 worldwide hotel companies in 2019. The company aims to strengthen its brand offerings across various market segments in China by leveraging its strong membership base and operational capabilities. The annual report is available for stakeholders on the investor relations and SEC websites.
GreenTree Hospitality Group (NYSE: GHG) reported its Q4 2020 financial results, showing total revenues of RMB 289.8 million (US$ 44.4 million), an increase of 0.1% YoY, and 8.6% sequentially. Income from operations rose 17.4% to RMB 118.5 million (US$ 18.2 million), with a gross profit margin of 65.6%. Core net income grew 18.3% to RMB 109.3 million (US$ 16.8 million). Despite challenges from COVID-19, the company opened 203 hotels in Q4. For 2021, GHG anticipates a revenue increase of 48%-53% compared to 2020, supported by a strong recovery in the hospitality sector.
GreenTree Hospitality Group Ltd. (NYSE: GHG) will release its unaudited financial results for Q4 and the fiscal year ending December 31, 2020, on April 14, 2021, post U.S. market close. Management will conduct an earnings call at 9:00 PM ET the same day, with dial-in options available for international participants. As of September 30, 2020, GreenTree operated 4,195 hotels, ranking in the Top 12 globally by HOTELS magazine in 2019. The company emphasizes its strong brand portfolio and commitment to service quality in the competitive hospitality industry in China.
GreenTree Hospitality Group (NYSE: GHG) reported a 23.6% sequential revenue increase to RMB266.9 million (US$39.3 million) for Q3 2020, though this reflects an 8.6% decline year-over-year. Significant operational gains were noted, with income from operations rising 61.1% to RMB100.9 million (US$14.9 million) compared to Q2 2020. Adjusted EBITDA increased 46.6% to RMB134.0 million (US$19.7 million). However, the average daily room rate (ADR) fell 12.9% year-over-year. The company anticipates a 12%-15% revenue decline for FY 2020 amid ongoing pandemic impacts.
GreenTree Hospitality Group Ltd. (NYSE: GHG) will hold its annual general meeting on December 22, 2020, at 9:00 PM EST. Key agenda includes the re-appointment of Ernst & Young Hua Ming LLP as independent auditor for the fiscal year ending December 31, 2020. Record holders of ordinary shares as of November 22, 2020 are entitled to vote. The notice and 2019 annual report are available on the company's website. GreenTree is a leading hospitality group in China, operating 4,066 hotels as of June 30, 2020, and ranked among the top hotel groups globally.
GreenTree Hospitality Group Ltd. (NYSE: GHG) will report its unaudited financial results for the quarter ended September 30, 2020 on December 2, 2020, post U.S. market close. An earnings conference call is scheduled for 8:00 PM ET on the same day. As of June 30, 2020, GreenTree operated a total of 4,066 hotels and ranked among the top hospitality groups in China. The company aims to enhance its brand portfolio and maintain strong client relationships through quality service and management.
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