Financial Associated Press, October 30 (Reporter Hu Haoqiong)Tourism hotel consumption recovery, Jinjiang Hotel (600754.SH) Q3 domestic and foreign average room rates and RevPAR are higher than before the epidemic. Some industry insiders told the Financial Associated Press that although Q4 is affected by the off-season of the industry, its performance may decline somewhat, but it is still relatively optimistic about the performance development next year.

Tonight, Jinjiang Hotel announced its Q3 performance. The results show that Jinjiang Hotel achieved operating income of 10.962 billion yuan in the first three quarters, an increase of 32.71% over the same period last year, while the net profit belonging to shareholders of listed companies was 975 million yuan, an increase of 1783.69% over the same period last year. Of this total, the operating income in the third quarter was 4.156 billion yuan, an increase of 33.63% over the same period last year; the net profit attributed to shareholders of listed companies was 452 million yuan, an increase of 284 million yuan, or 169.28%, over the same period last year.

In response to performance changes, Jinjiang Hotel said that it was mainly due to a sharp rebound in the operation of its domestic hotels over the same period last year, an increase in fair value due to the extension of the franchise, and the acquisition of lease compensation.

In terms of operating data, the report shows that in the third quarter, the average RevPAR of hotels in Jinjiang Hotel was 190.36 yuan, 1.13 times that of the same period in 2019, with the average occupancy rate steadily returning to 91.31% in 2019 and exceeding 50.19 yuan in the same period in 2019.

Judging from the limited service hotel chain that the company has opened, according to the announcement, as of September 30, the proportion of mid-range hotels and above in the total number of hotels opened has increased to 57.54%, compared with 39.43% in the same period in 2019. At present, Jinjiang Hotel operates a total of 12138 hotels with 1152332 guest rooms worldwide.

However, it is worth mentioning that the company's overseas assets, Lufu Group, still lost a large net profit of 20.42 million euros in the first three quarters of this year. A reporter from the Financial Associated Press learned that Jinjiang Hotel had taken measures against the problems of Lufu Group before, and it is expected that Lufu's losses will be further reduced in the second half of the year. There is indeed an improvement in the third quarter. According to the estimates of the Financial Associated Press, the Lufu Group made a profit of 5.04 million euros in the third quarter.

With regard to the development trend of the hotel industry in Q4 and even next year, the aforementioned industry insiders said that the prices of the hotel industry have been well supported, with the improvement of people's living standards, the continuous improvement of the willingness and demand for tourism, superimposed by the relevant national support policies, and maintain a relatively optimistic attitude towards the hotel industry next year.