Can a Strong June Salvage H World Group’s Second Quarter Malaise?

Chinese hotelier is enjoying rising room rates and occupancies at its over 8,000 hotels, but that’s unlikely to offset a disastrous April and May Key Takeaways H World Group’s average occupancy and revpar are recovering after steep declines in April and May due to pandemic restrictions, but still lag 2019 levels Investors are watching whether the company’s loss will narrow in the second quarter on the back of improving hotel performance metrics By Andrew Curran Ahead of soon-to-be-released second-quarter results, hotelier H World Group Ltd. (HTHT.US; 1179.HK) is reporting some…

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FAST NEWS: Huazhu Loss Doubles in Q1, Sees Q2 Revenue Contraction

The latest: Hotel operator Huazhu Group Ltd. (HTHT.US, 1179.HK) reported its net loss widened by 154% to 630 million yuan ($94 million) in the first quarter from a year earlier, despite a 16.4% increase in hotel turnover to 9.5 billion yuan, according to its latest results published on Monday. Looking up: The company’s own first-quarter revenue grew 15.2% to 2.68 billion yuan, slightly outperforming its previously announced guidance for 11% to 15% growth, mainly due to a 17.5% increase in leased and owned hotel revenue to 1.64 billion yuan. Take Note: The wider loss…

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Huazhu Ends 2021 with Omicron Hit, Seen Lingering Into 2022

The hotel operator is facing headwinds from the latest Covid-19 flare-up, whose impact is likely to affect its first quarter results Key takeaways: Huazhu Group is predicting greater uncertainties for its hotels in the first quarter as a result of the recent Covid resurgence and resulting travel restrictions The company has pivoted to focus on quality over quantity growth, in an unexpected shift for some analysts By Lau Ming With recent Covid-19 fare-ups sweeping China and the new omicron variant spreading fast, local governments throughout the country have been tightening…

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Covid Disruptions Chop Into GreenTree Profit, as It Tries to Focus on Future

Hotel operator’s revenue rose 16% in the third quarter, even as its profit fell by nearly half due to new openings and weakness at existing properties  Key Takeaways: GreenTree Hospitality’s revenue rose 16% in the third quarter on new property openings, but revpar for existing hotels was down 1.8% year-on-year Company looks undervalued compared with domestic rivals, but ranks stronger than international peer Accor  By Doug Young It’s only two trading days since hotel operator Greentree Hospitality Group Ltd. (GHG.US) reported its latest results for last year’s third quarter. And…

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China-U.S. IPO Pipeline Creaks Back to Life With Two New Listing Plans

Drug maker LianBio and hotel operator Atour each aims to raise about $350 million with separate New York listings Key takeaways: Two Chinese companies, drug maker LianBio and hotel operator Atour, are moving ahead with U.S. IPOs after a three-month pause on such listings Neither company is using the controversial VIE structure, and neither comes from the sensitive internet sector By Doug Young A year ago, the imminent IPO by Chinese company LianBio (LIAN.US) wouldn’t have drawn much attention. The biotech specialist’s offering is noteworthy for its large size, aiming…

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Huazhu Founder Steps Down as CEO a Third Time, as Hotelier Bounces Back from Covid

Ji Qi’s resignation as CEO comes as leading Chinese hotel operator reports strong rebound in first half of 2021 Key Takeaways: Huazhu founder Ji Qi is stepping down as the company’s CEO for the third time, following its latest period of adjustment Observers believe that despite relinquishing the CEO title, Ji will continue to call the shots from behind the scenes in his remaining role as chairman By M.C. Ho With its Covid-19 outbreak under control, China’s hotel industry has largely recovered on a steady track. Against a backdrop of…

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Hotel Operator Greentree Getting Ready to Check Out of New York?

Company releases latest results two months later than usual, blaming delay on its recent exploration of ‘alternative listings’ Key points: Greentree’s exploration of ‘alternative listings’ reflects Beijing’s recent signals of displeasure at Chinese companies listing in New York Company is sharply undervalued compared with peers, despite business surpassing pre-Covid levels in June By Doug Young The latest quarterly results from hotel operator Greentree Hospitality Group Ltd. (GHG.US) show that China’s hotel industry is well on the road to recovery as the nation’s Covid-19 situation remains under control. But the more…

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