华住集团有限公司公布2021年第四季度及全年的酒店经营初步业绩

20/01/2022

SHANGHAI, China, Jan. 20, 2022 (GLOBE NEWSWIRE) -- Huazhu Group Limited (NASDAQ: HTHT and HKEX: 1179) (“Huazhu”, “we” or “our”), a world-leading hotel group, today announced preliminary results for hotel operations in the fourth quarter (“Q4 2021”) and the full year ended December 31, 2021.

COVID-19 update
For our Legacy-Huazhu business, RevPAR recovery in Q4 2021 was still significantly impacted by several COVID-19 resurgences in China. In terms of monthly breakdown, our RevPAR recovered to 90%, 76%, and 90% of the levels in October, November, and December 2019, respectively. Entering into 2022, we saw that the COVID-19 pandemic was still lingering in several cities and provinces, such as Xi’an, Tianjin and Henan Province, etc. Additionally, the new Omicron variant was also detected recently in several cities in China. More importantly, travelling restrictions are expected to be stricter in Beijing and its surrounding areas in anticipation of the upcoming Beijing Olympic Winter Games. Therefore, all the above factors would increase uncertainties and pressures to our RevPAR recovery in the first quarter of 2022.

After continuous business recovery in Q3 2021 thanks to the progress of vaccination campaign and easing of restrictions, Steigenberger Hotels AG and its subsidiaries (“DH”) in Q4 2021 were impacted by tightened governmental control measures and testing requirements due to the third and fourth waves of the COVID-19 pandemic in European countries. As a result, the recovery trend of DH was disrupted in November 2021, as RevPAR and occupancy numbers declined compared to those in the summer. In terms of vaccination, as of January 18, 2022, approximately 75% of the entire German population has received at least one dose and approximately 72% of the population has been fully vaccinated, and 47% has received the third dose. RevPAR recovery in the near-term is expected to remain under pressure due to the recent Omicron variant. However, we believe that the RevPAR recovery trend will quickly resume once the number of COVID cases start to decline.

Meanwhile, DH continues its effort to implement a comprehensive cash and cash flow improvement program, especially focusing on personnel cost reduction, process optimization and negotiation of further lease waivers. In addition, government subsidy was received in December 2021.

Operating Results: Legacy-Huazhu(1)

  Number of hotels   Number of rooms
  Opened
in Q4 2021
 
Closed (2)
in Q4 2021
 
Net added
in Q4 2021
 
As of
December 31,
2021
(3)
  As of
December 31,
2021
   
Leased and owned hotels 7 (8 ) (1 ) 662   91,284
Manachised and franchised hotels 436 (74 ) 362   7,044   636,859
Total 443 (82 ) 361   7,706   728,143
(1)   Legacy-Huazhu refers to Huazhu and its subsidiaries, excluding DH.
(2)   The reasons for hotel closures mainly included non-compliance with our brand standards, operating losses, and property-related issues. In Q4 2021, we temporarily closed 9 hotels for brand upgrade and business model change purposes.
(3)   As of December 31, 2021, 147 hotels were requisitioned by governmental authorities.

 

  As of December 31, 2021
  Number of hotels Unopened hotels in pipeline
Economy hotels 4,772 1,194
Leased and owned hotels 397 3
Manachised and franchised hotels 4,375 1,191
Midscale and upscale hotels 2,934 1,377
Leased and owned hotels 265 15
Manachised and franchised hotels 2,669 1,362
Total 7,706 2,571

 

Operational hotels excluding hotels under requisition
  For the quarter ended  
  December 31, September 30, December 31, yoy
  2020   2021   2021   change
Average daily room rate (in RMB)      
Leased and owned hotels 272   296   286   5.1 %
Manachised and franchised hotels 224   238   232   3.9 %
Blended 231   246   239   3.7 %
Occupancy Rate (as a percentage)      
Leased and owned hotels 79.6 % 69.7 % 67.4 % -12.2p.p.
Manachised and franchised hotels 80.8 % 72.2 % 68.4 % -12.4p.p.
Blended 80.6 % 71.9 % 68.2 % -12.4p.p.
RevPAR (in RMB)        
Leased and owned hotels 217   206   193   -11.0 %
Manachised and franchised hotels 181   172   159   -12.1 %
Blended 186   177   163   -12.2 %

 

  For the quarter ended
  December 31, December 31, yoy
  2019   2021   change
Average daily room rate (in RMB)    
Leased and owned hotels 277   286   3.2 %
Manachised and franchised hotels 223   232   4.5 %
Blended 232   239   3.1 %
Occupancy Rate (as a percentage)    
Leased and owned hotels 84.7 % 67.4 % -17.4p.p.
Manachised and franchised hotels 81.6 % 68.4 % -13.3p.p.
Blended 82.2 % 68.2 % -13.9p.p.
RevPAR (in RMB)      
Leased and owned hotels 235   193   -17.9 %
Manachised and franchised hotels 182   159   -12.5 %
Blended 191   163   -14.4 %

 

  For the year ended
  December 31, December 31, yoy
  2020   2021   change
Average daily room rate (in RMB)    
Leased and owned hotels 241   286   18.7 %
Manachised and franchised hotels 204   232   13.3 %
Blended 210   239   13.8 %
Occupancy Rate (as a percentage)    
Leased and owned hotels 68.9 % 70.6 % +1.7 p.p.
Manachised and franchised hotels 71.4 % 72.4 % +1.0 p.p.
Blended 71.0 % 72.2 % +1.2 p.p.
RevPAR (in RMB)      
Leased and owned hotels 166   202   21.7 %
Manachised and franchised hotels 146   168   14.9 %
Blended 149   172   15.6 %

 

  For the year ended
  December 31, December 31, yoy
  2019   2021   change
Average daily room rate (in RMB)    
Leased and owned hotels 276   286   3.5 %
Manachised and franchised hotels 224   232   3.2 %
Blended 234   239   2.0 %
Occupancy Rate (as a percentage)    
Leased and owned hotels 87.0 % 70.6 % -16.3p.p.
Manachised and franchised hotels 83.8 % 72.4 % -11.4p.p.
Blended 84.4 % 72.2 % -12.2p.p.
RevPAR (in RMB)      
Leased and owned hotels 240   202   -15.9 %
Manachised and franchised hotels 188   168   -10.8 %
Blended 198   172   -12.7 %

 

Same-hotel operational data by class                
Mature hotels in operation for more than 18 months (excluding hotels under requisition)
  Number of hotels Same-hotel RevPAR Same-hotel ADR Same-hotel Occupancy
  As of
December 31,
 
For the quarter yoy For the quarter yoy For the quarter yoy
  ended
December 31,
change ended
December 31,
change ended
December 31,
change
  2020 2021 2020 2021   2020 2021   2020   2021   (p.p.)
Economy hotels 3,341 3,341 152 128 -15.6 % 179 180 0.8 % 85.2 % 71.4 % -13.8
Leased and owned hotels 388 388 170 146 -14.1 % 201 204 1.1 % 84.6 % 71.9 % -12.7
Manachised and franchised hotels 2,953 2,953 149 125 -15.9 % 174 175 0.6 % 85.3 % 71.3 % -14.0
Midscale and upscale hotels 1,734 1,734 247 208 -15.7 % 314 312 -0.5 % 78.7 % 66.7 % -12.0
Leased and owned hotels 222 222 280 238 -15.1 % 378 378 0.2 % 74.2 % 62.8 % -11.4
Manachised and franchised hotels 1,512 1,512 240 202 -15.9 % 301 299 -0.8 % 79.7 % 67.6 % -12.1
Total 5,075 5,075 192 162 -15.6 % 232 233 0.3 % 82.5 % 69.4 % -13.1

 

 
  Number of hotels Same-hotel RevPAR Same-hotel ADR Same-hotel Occupancy
  As of
December 31,
 
For the quarter yoy For the quarter yoy For the quarter yoy
  ended
December 31,
change ended
December 31,
change ended
December 31,
change
  2019 2021 2019 2021   2019 2021   2019   2021   (p.p.)
Economy hotels 2,442 2,442 163 130 -20.1 % 186 181 -2.8 % 87.9 % 72.2 % -15.7
Leased and owned hotels 380 380 185 145 -21.8 % 211 202 -4.4 % 87.7 % 71.7 % -16.0
Manachised and franchised hotels 2,062 2,062 158 127 -19.7 % 179 175 -2.4 % 87.9 % 72.3 % -15.6
Midscale and upscale hotels 1,160 1,160 269 206 -23.5 % 325 313 -3.7 % 82.9 % 65.9 % -17.0
Leased and owned hotels 187 187 329 229 -30.6 % 394 369 -6.5 % 83.5 % 62.0 % -21.5
Manachised and franchised hotels 973 973 253 200 -21.0 % 305 298 -2.4 % 82.7 % 66.9 % -15.8
Total 3,602 3,602 204 160 -21.7 % 237 229 -3.5 % 86.0 % 69.7 % -16.2

 

Same-hotel operational data by class                
Mature hotels in operation for more than 18 months (excluding hotels under requisition)
  Number of hotels Same-hotel RevPAR Same-hotel ADR Same-hotel Occupancy
  As of
December 31,
 
For the year yoy For the year yoy For the year yoy
  ended
December 31,
change ended
December 31,
change ended
December 31,
change
  2020 2021 2020 2021   2020 2021   2020   2021   (p.p.)
Economy hotels 3,341 3,341 125 138 10.8 % 164 182 10.8 % 75.8 % 75.8 % +0.0
Leased and owned hotels 388 388 131 153 17.3 % 179 206 15.0 % 73.0 % 74.5 % +1.5
Manachised and franchised hotels 2,953 2,953 123 135 9.3 % 161 177 9.7 % 76.4 % 76.1 % -0.3
Midscale and upscale hotels 1,734 1,734 202 221 9.3 % 289 315 8.8 % 69.8 % 70.1 % +0.3
Leased and owned hotels 222 222 219 250 14.2 % 338 378 11.7 % 64.8 % 66.2 % +1.4
Manachised and franchised hotels 1,512 1,512 198 214 8.1 % 279 301 8.0 % 70.9 % 71.0 % +0.1
Total 5,075 5,075 156 172 10.2 % 213 234 10.0 % 73.3 % 73.5 % +0.1

 

 
  Number of hotels Same-hotel RevPAR Same-hotel ADR Same-hotel Occupancy
  As of
December 31,
 
For the year yoy For the year yoy For the year yoy
  ended
December 31,
change ended
December 31,
change ended
December 31,
change
  2019 2021 2019 2021   2019 2021   2019   2021   (p.p.)
Economy hotels 2,442 2,442 172 138 -19.8 % 190 182 -4.7 % 90.2 % 75.9 % -14.3
Leased and owned hotels 380 380 193 151 -21.6 % 213 203 -4.4 % 90.7 % 74.4 % -16.3
Manachised and franchised hotels 2,062 2,062 166 134 -19.3 % 185 176 -4.7 % 90.1 % 76.3 % -13.7
Midscale and upscale hotels 1,160 1,160 275 218 -20.8 % 331 315 -4.8 % 83.0 % 69.0 % -14.0
Leased and owned hotels 187 187 335 244 -26.9 % 398 371 -6.8 % 84.1 % 65.9 % -18.2
Manachised and franchised hotels 973 973 256 209 -18.4 % 310 299 -3.6 % 82.7 % 70.0 % -12.7
Total 3,602 3,602 209 167 -20.1 % 238 227 -4.7 % 87.6 % 73.4 % -14.2

Operating Results: Legacy-DH(4)

  Number of hotels   Number of
rooms
  Unopened hotels in pipeline
  Opened
in Q4 2021
 
Closed
in Q4 2021
 
Net added
in Q4 2021
 
As of
December 31, 2021(5)
 
 

 
 
As of
December
31,2021

 
 

 
 
As of
December
31,2021

 
 
Leased hotels 1 -   1 76   14,264   28
Manachised and franchised hotels 3 (1 ) 2 48   10,809   9
Total 4 (1 ) 3 124   25,073   37
(4)    Legacy-DH refers to DH.
(5)   As of December 31, 2021, a total of 4 hotels were temporarily closed. 1 hotel was closed for renovation and 1 hotel was closed due to flood damage. Additionally, 1 hotel was in winter break and 1 hotel was temporarily closed due to low demand.

 

  For the quarter ended  
  December 31, September 30, December 31, yoy
  2020   2021   2021   change
Average daily room rate (in EUR)        
Leased hotels 78   94   95   21.6 %
Manachised and franchised hotels 73   104   93   26.6 %
Blended 76   99   94   23.5 %
Occupancy rate (as a percentage)        
Leased hotels 20.9 % 48.0 % 42.8 % +22.0 p.p.
Managed and franchised hotels 25.4 % 49.4 % 50.7 % +25.3 p.p.
Blended 22.5 % 48.6 % 46.1 % +23.6 p.p.
RevPAR (in EUR)        
Leased hotels 16   45   41   149.6 %
Managed and franchised hotels 19   52   47   152.7 %
Blended 17   48   43   152.6 %

 

  For the year ended
  December 31, December 31, yoy
  2020   2021   change
Average daily room rate (in EUR)    
Leased and owned hotels 89   91   2.2 %
Manachised and franchised hotels 85   89   4.8 %
Blended 88   90   3.0 %
Occupancy rate (as a percentage)    
Leased and owned hotels 33.9 % 31.6 % -2.3 p.p.
Manachised and franchised hotels 36.3 % 40.5 % +4.2 p.p.
Blended 34.8 % 35.2 % +0.3 p.p.
RevPAR (in EUR)      
Leased and owned hotels 30   29   -4.6 %
Manachised and franchised hotels 31   36   16.8 %
Blended 31   32   4.0 %

Hotel Portfolio by Brand

  As of December 31, 2021
  Hotels Rooms Unopened hotels
  in operation in pipeline
Economy hotels 4,786 387,895 1,206
HanTing Hotel 3,027 274,118 696
Hi Inn 443 24,674 117
Elan Hotel(6) 1,083 64,606 353
Ibis Hotel 219 22,834 28
Zleep Hotels 14 1,663 12
Midscale hotels 2,450 271,421 1,072
Ibis Styles Hotel 79 8,404 21
Starway Hotel 528 44,016 252
JI Hotel 1,381 166,836 575
Orange Hotel 432 47,393 217
CitiGO Hotel 30 4,772 7
Upper midscale hotels 454 67,068 264
Crystal Orange Hotel 144 19,190 58
Manxin Hotel 84 8,273 62
Madison Hotel 37 5,490 56
Mercure Hotel 125 21,217 50
Novotel Hotel 15 4,032 13
IntercityHotel(7) 49 8,866 25
Upscale hotels 125 23,056 61
Jaz in the City 3 587 1
Joya Hotel 9 1,760 0
Blossom House 34 1,658 39
Grand Mercure Hotel 7 1,485 3
Steigenberger Hotels & Resorts(8) 65 16,389 12
MAXX (9) 7 1,177 6
Others 15 3,776 5
Other hotels(10) 15 3,776 5
Total 7,830 753,216 2,608

(6)   As of December 31, 2021, 70 Ni Hao Hotels were included in the operational hotel for Elan Hotels and 163 Ni Hao Hotels were included in the pipeline for Elan Hotels.
(7)   As of December 31, 2021, 2 operational hotels and 8 pipeline hotels of IntercityHotel were in China.
(8)   As of December 31, 2021, 14 operational hotels and 6 pipeline hotels of Steigenberger Hotels & Resorts were in China.
(9)   As of December 31, 2021, 2 operational hotels and 5 pipeline hotels of MAXX were in China.
(10)   Other hotels include other partner hotels and other hotel brands in Yongle Huazhu Hotel & Resort Group (excluding Steigenberger Hotels & Resorts and Blossom House).

About Huazhu Group Limited
Originated in China, Huazhu Group Limited is a world-leading hotel group. As of December 31, 2021, Huazhu operated 7,830 hotels with 753,216 rooms in operation in 17 countries. Huazhu’s brands include Hi Inn, Elan Hotel, HanTing Hotel, JI Hotel, Starway Hotel, Orange Hotel, Crystal Orange Hotel, Manxin Hotel, Madison Hotel, Joya Hotel, Blossom House, Ni Hao Hotel and CitiGO Hotel. Upon the completion of the acquisition of DH on January 2, 2020, Huazhu added five brands to its portfolio, including Steigenberger Hotels & Resorts, MAXX by Steigenberger, Jaz in the City, IntercityHotel and Zleep Hotels. In addition, Huazhu also has the rights as master franchisee for Mercure, Ibis and Ibis Styles, and co-development rights for Grand Mercure and Novotel, in the pan-China region.

Huazhu’s business includes leased and owned, manachised and franchised models. Under the lease and ownership model, Huazhu directly operates hotels typically located on leased or owned properties. Under the manachise model, Huazhu manages manachised hotels through the on-site hotel managers that Huazhu appoints, and Huazhu collects fees from franchisees. Under the franchise model, Huazhu provides training, reservations and support services to the franchised hotels, and collects fees from franchisees but does not appoint on-site hotel managers. Huazhu applies a consistent standard and platform across all of its hotels. As of December 31, 2021, Huazhu operates 14 percent of its hotel rooms under lease and ownership model, and 86 percent under manachise and franchise models.

For more information, please visit Huazhu’s website: http://ir.huazhu.com.

Safe Harbor Statement Under the U.S. Private Securities Litigation Reform Act of 1995: The information in this release contains forward-looking statements which involve risks and uncertainties. Such factors and risks include our anticipated growth strategies; our future results of operations and financial condition; economic conditions; the regulatory environment; our ability to attract and retain customers and leverage our brands; trends and competition in the lodging industry; the expected growth of demand for lodging; and other factors and risks detailed in our filings with the U.S. Securities and Exchange Commission. Any statements contained herein that are not statements of historical fact may be deemed to be forward-looking statements, which may be identified by terminology such as “may,” “should,” “will,” “expect,” “plan,” “intend,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “forecast,” “project” or “continue,” the negative of such terms or other comparable terminology. Readers should not rely on forward-looking statements as predictions of future events or results.

Huazhu undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, unless required by applicable law.

Contact Information
Huazhu Investor Relations
Tel: 86 (21) 6195 9561
Email: ir@huazhu.com
http://ir.huazhu.com


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