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Q3 Results for China Lodging Group Limited announced

Chinese based China Lodging Group Limited, also known as Huazhu Hotels Group Limited, have released their Q3 results

China Lodging Group Limited have announced their 2017, third quarter results. During which they opened a total of 167 hotels, predominantly under franchise or management agreements. Within this same quarter they closed 52 hotels.

As of 30th September 2017, the company consists of «684 leased and owned hotels, 2,766 manachised hotels, and 206 franchised hotels in operation in 375 cities » with a total of 372,464 rooms, up 15.4% on this time last year. In addition the company has « a total number of 606 hotels contracted or under construction, including 38 leased hotels and 568 manachised and franchised hotels »

Key figures from the company’s third quarter results :
Average daily rate of RMB218 (27,9 €) in the Q3 2017, compared to RMB194 (24,8 €) in Q3 2016.
Occupancy rate of 93.1% in Q3 2017, compared to 88.9% in Q3 2016
Revenue per available room for all hotels in operation, was RMB203 (26 €) in Q3 of 2017, compared to RMB173 (22,1 €) in Q3 2016

"Fuelled by strong domestic travel demand, our same-hotel RevPAR growth accelerated to 9.5% in the third quarter, the highest in the past five years. The consumption upgrade in China continued to benefit both our economy and midscale hotels" said Ms. Jenny Zhang, Chief Executive Officer of China Lodging Group.

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