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. reports developments for a China-based hospitality and restaurant management group whose American depositary shares trade under GHG. Company updates commonly cover hotel and restaurant operating results, franchised-and-managed and leased-and-operated hotel activity, restaurant and wholesale segments, openings and contracted pipeline, occupancy, average daily room rate, RevPAR, and membership-related revenue.
News also includes annual report filings, dividend actions for ordinary shares and ADSs, and ADR program mechanics. Its hotel brand portfolio includes GreenTree Inns, GreenTree Eastern, Gme, Gya, VX, GreenTree Alliance and Vatica, spanning economy through luxury hospitality categories mainly in China.
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GreenTree Hospitality Group Ltd. (GHG) reported a significant 21.1% decrease in total revenues for the second half of 2022, totaling RMB487.8 million (US$70.7 million). This decline was mainly due to the deconsolidation of Argyle and the disposal of Urban, compounded by pandemic impacts. Despite lower revenues, income from operations surged by 516.4% year-over-year to RMB20.0 million (US$2.9 million). However, adjusted EBITDA fell by 21.2% to RMB118.3 million (US$17.2 million). The company opened 161 hotels in H2 2022, a substantial decrease from 320 in the prior year. Looking ahead to 2023, GHG expects total revenues to potentially grow by 90%-95% as it incorporates restaurant operations following recent acquisitions.
GreenTree Hospitality Group Ltd. (NYSE: GHG) will release its unaudited financial results for the six months ending December 31, 2022, on April 6, 2023, after U.S. market close. The management will host a conference call at 9:00 PM U.S. Eastern Time the same day. In related updates, GreenTree has completed the acquisition of Da Niang Dumplings and Bellagio from its controlling shareholder, GTI, resolving outstanding loans through the purchase price. The previous equity interest in Urban was sold, effectively deconsolidating Urban from GreenTree’s financials.
GreenTree Hospitality Group Ltd. (GHG) reported a 22.3% decline in total revenues to RMB457.4 million (US$68.3 million) for the first half of 2022, primarily due to COVID-19 impacts. Adjusted EBITDA decreased by 46.8% to RMB93.3 million (US$13.9 million), while core net income fell 13.7% to RMB105.9 million (US$15.8 million). The company's operational scale expanded to 4,669 hotels with a pipeline of 1,094 hotels under development. Despite the challenges, the average daily room rate (ADR) increased slightly, though occupancy rates and revenue per available room (RevPAR) saw year-over-year declines.