Welcome to our dedicated page for Greentree Hospit news (Ticker: GHG), a resource for investors and traders seeking the latest updates and insights on Greentree Hospit stock.
GreenTree Hospitality Group Ltd (NYSE: GHG), a leader in China's hospitality sector, maintains this dedicated news hub for tracking its franchised hotel and restaurant operations. Access timely updates on strategic developments across GreenTree's portfolio of economy-to-upscale brands, including GreenTree Inns and GreenTree Eastern.
This resource offers investors and industry professionals centralized access to earnings announcements, franchise network expansions, and management initiatives shaping the company's position in China's competitive tourism market. Monitor updates covering both hotel segment developments and restaurant operations, reflecting GreenTree's dual operational focus.
Key content includes notifications of new property openings, strategic partnerships, and system management enhancements across its 2,000+ locations. Stay informed about operational adjustments responding to China's evolving travel trends and consumer preferences.
Bookmark this page for streamlined access to GreenTree's official communications, providing essential insights for evaluating the company's performance in hotel franchising and diversified hospitality services.
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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