Financial Services Association, April 29 (Reporter Hu Haoqiong) With the support of China's New Year's Day and the “hottest Spring Festival in history,” the net profit of Jinjiang Hotel (600754.SH) increased 30% in the first quarter of this year. A Financial Services Association reporter learned from the company that during the “May 1st” holiday this year, the comprehensive reservation rate for hotels in popular tourist provinces and cities of Jinjiang Hotels (China) is close to 80%.

Today, Jinjiang Hotel announced its first-quarter results. The company achieved operating income of 3.206 billion yuan, an increase of 6.77% over the same period last year; net profit attributable to shareholders of listed companies was 190 million yuan, an increase of 34.56% over the previous year. Among them, the hotel business achieved consolidated revenue of 3.144 billion yuan, an increase of 6.78% over the previous year. The full-service hotel business achieved revenue of 45 million yuan, an increase of 112.76% over the same period last year; the limited-service hotel business achieved consolidated revenue of 3,099 billion yuan, an increase of 6.01% over the previous year.

As of the first quarter of this year, the number of new limited-service hotels opened at Jinjiang Hotel was 221, a net increase of 146 hotels opened, a decrease of 7 directly-managed hotels, and an increase of 153 franchised hotels. The number of full-service hotels opened was 61, corresponding to 1,9090 guest rooms. The average room price reached 500.09 yuan/room, up 5.9% year on year compared with 472.31 yuan/room in the same period last year; its average occupancy rate declined slightly due to the impact of the first quarter cycle.

In terms of domestic business, the company achieved revenue of 2,215 billion yuan from the domestic limited service hotel business, an increase of 5.97% over the same period of the previous year; of this, upfront service fee revenue was 123 million yuan, an increase of 121.58% over the same period of the previous year; and revenue from continuous franchise and labor dispatch services was 963 million yuan, an increase of 7.58% over the same period last year.

It is worth mentioning that the Financial Services Association reporter learned that a large number of exhibitions will be held this year, boosting hotel occupancy rates. During the first phase of the 135th Canton Fair, Jinjiang Hotel (China) was located at more than 300 hotels in Guangzhou, with an overall occupancy rate of over 95%. Among them, hotels near the Pazhou Complex continued to fill up on the 15th, an increase of 23% over the previous week.

This year's “May Day” holiday is also a profit opportunity for hotel companies in the domestic business sector. As of April 26, the overall reservation rate for the “May Day” holiday at Jinjiang Hotel (China) increased by more than 6% compared to the same period last year, and the overall reservation trend was good. The comprehensive reservation rate for Jingdezhen, Zhangjiajie, Huangshan and other places is close to 80%, and the Zibo area is close to 70%; traditional popular tourist destinations such as Hangzhou, Quanzhou, Nanjing, Wuhan, Fuzhou, Yangzhou, Xi'an, Changsha, and Beijing have all exceeded 50%.

According to the Jinjiang Hotel (China region), it is expected that there will be a new peak in reservations as we approach the “May 1st” holiday.