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Huazhu: financial results for the full year 2017

Huazhu opened more than three hotels every two days in 2017.

Huazhu Hotels Group, also known as China Lodging Group, announced its unaudited financial results for the full year ended December 31, 2017.

• Net revenues increased 25.0% to RMB8,170.2 million (US$1,255.7 million)
• Net income increased 53.8% to RMB1,237.2 million (US$190.2 million)
• The occupancy rate was 88.3%, compared with 84.9% in 2016
• The RevPAR was RMB180 in 2017, a 14.4% increase from RMB157 in 2016

"In 2017, we opened more than three hotels every two days. Our hotel room inventory grew by 20% on a gross basis, or 15% net," commented Ms. Jenny Zhang, Chief Executive Officer of China Lodging Group.

Huazhu enriched its midscale portfolio last year by acquiring Crystal Orange and launching several midscale brands such as HanTing Premium, CitiGo and urban Manxin.

The group claims a total of 3,746 properties totaling 379,675 rooms in operation as of December 31, 2017. According to data published by Hospitality ON as of January 1, 2017, Huazhu Hotels Group ranked 9th global hotel group with 3,169 properties totaling 314,788 hotel rooms.

According to the group, its loyalty program had approximately 103 million members in 2017, who contributed approximately 76% of room nights sold during the full year of 2017 and approximately 87% of room nights were sold through its own direct channels.

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