GHG - GreenTree Hospitality shows prelim Q2 numbers

2023-07-12 09:52:35 ET

GreenTree Hospitality Group ( NYSE: GHG ) reports preliminary Q1 total revenues ranging from RMB371.1M to RMB389.1M ($54M to $56.7M).

Total revenues from organic hotels increased by 16.8% Y/Y to ~RMB252.6M ($36.8M) for Q1 2023.

Income from operations for the first quarter of 2023 are estimated to be ~RMB55.4M to RMB60.4M ($8.1M - $8.8M)

Income from operations of organic hotels increased by 397.4% Y/Y to ~RMB57.2M ($8.3M) for Q1 2023.

A total of 4,084 hotels (all organic hotels) with 302,425 hotel rooms were in operation as of March 31, 2023, compared to 3,907 organic hotels and 294,525 hotel rooms as of March 31, 2022.

The occupancy rate, or OCC, for all organic hotels in operation was 71.7% in Q1, compared to 62.1% prior.

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