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:
以下是格林豪泰酒店集团有限公司（GHG）2024年第三季度财报电话会议记录摘要：
Financial Performance:
财务业绩：
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年第三季度的总收入为人民币35700万元，下降了22.5％。
酒店收入下降了15.4％，至28690万元人民币，这主要是由于RevPAR下降了13.6％。
净收入下降了44.4％，至人民币6520万元。
酒店业务的总运营成本和支出下降了4.9％，至人民币20190万元。
Business Progress:
业务进展：
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.
酒店业务进行了战略调整，开辟了新的空缺岗位，尤其是在中高档细分市场，主要集中在三线城市，部分业务向二线城市扩张。
餐饮业的转型战略已基本完成，重点是更有利的地点，例如街头商店和特许经营模式。
Opportunities:
机会：
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.
会员计划的增长反映了强大的直销潜力，个人会员从8800万增加到10000万。
预计2025财年将有更强的业绩，许多新酒店正在筹建中，RevPAR也有所改善，尤其是在低线城市。
Risks:
风险：
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.
历史RevPAR数据下降，这是由于与拥有较新酒店组合的同行相比，对业绩产生负面影响的传统酒店比例更高。
战略审查和运营调整导致9家酒店关闭，这也导致收入下降。
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