ACRFF - GreenTree Hospitality Group Files For $200 Million U.S. IPO
Quick Take
China-based GreenTree Hospitality Group (GHG) intends to raise $200 million in a U.S. IPO, according to a regulatory filing.
The company operates a network of nearly 2,300 corporate and franchised hotels in China, with over 190,000 rooms and a network of 20 million members.
GHG is betting on continued growth in demand for mid- to up-scale hotels as it has recently launched a number of new hotel concepts to drive growth away from commoditized products.
When we learn management’s pricing and valuation assumptions, I’ll provide a final opinion on the IPO.