GreenTree Hospitality Group Ltd. (GHG) Q3 2024 Earnings Call Transcript Summary
GreenTree Hospitality Group Ltd. (GHG) Q3 2024 Earnings Call Transcript Summary
Net income decreased by 44.4% to RMB 65.2 million.The following is a summary of the GreenTree Hospitality Group Ltd. (GHG) Q3 2024 Earnings Call Transcript:
以下是格林酒店集團有限公司（GHG）2024年第三季度業績會議電話交流摘要：
Financial Performance:
財務表現：
Total revenues for Q3 2024 were RMB 357 million, marking a 22.5% decline.
Hotel revenues dropped by 15.4% to RMB 286.9 million primarily due to a decrease in RevPAR of 13.6%.
Net income decreased by 44.4% to RMB 65.2 million.
The total operating costs and expenses for the hotel business decreased by 4.9% to RMB 201.9 million.
2024年第三季度總營業收入爲人民幣35700萬，較去年同期下降22.5%。
酒店營業收入下降15.4%，至人民幣28690萬，主要是由於RevPAR下降了13.6%。
淨利潤下降了44.4%，至人民幣6520萬。
酒店業務的總營運成本和費用下降了4.9%，至人民幣20190萬。
Business Progress:
業務進展：
Hotel business saw a strategic adjustment with new openings and a focus on growing pipeline especially in mid to upscale segments primarily in Tier 3 cities and some expansion into Tier 2 cities.
Transformation strategy in the restaurant business is largely complete, with an emphasis on more favorable locations such as street stores and franchise models.
酒店業務進行了戰略調整，開設了新店，重點放在增長管道，特別是在中高端市場，主要在三線城市，還有一些在二線城市的擴張上。
格林酒店在餐飲業務上的轉型策略基本完成，重點放在更有利的位置，如街邊店和特許經營模式上。
Opportunities:
機會：
Growth in membership programs reflects strong direct sales potential, with individual memberships increasing to 100 million from 88 million.
Anticipated stronger performance in FY 2025 with many new hotels in the pipeline and improved RevPAR especially in lower-tier cities.
會員數增長反映出強勁的直銷潛力，個人會員數從8800萬增加到10000萬。
預計2025財年表現更強勁，有許多新酒店在計劃中，並且RevPAR進一步提升，尤其是在下層城市。
Risks:
風險：
Decrease in historical RevPAR figures due to higher proportion of legacy hotels negatively affecting performance compared to peers with newer hotel portfolios.
Strategic review and operational adjustments lead to the closure of 9 hotels which also contributed to the revenue decline.
由於歷史RevPAR數據下降，主要是因爲傳統酒店的比例較高，這對績效產生了負面影響，與擁有更新酒店組合的同行相比。
戰略審查和運營調整導致關閉了9家酒店，這也導致了營業收入的下降。
Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.
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譯文內容由第三人軟體翻譯。
