- Huazhu Group (HTHT +1.4%) reports Q2 revenue growth of 25.9% Y/Y to $381M.
- Net revenues from leased and owned hotels were $287.1M (+23.2% Y/Y) & Net revenues from manachised and franchised hotels were $93.1M (+36.7% Y/Y).
- Operating margin increased 470 bps to 26.6%.
- The occupancy rate for all hotels in operation was 89.6%.
- Huazhu opened 147 hotels, including 7 leased hotels and 140 manachised and franchised hotels.
- Also, closed a total of 61 hotels, including 7 leased hotels and 54 manachised and franchised hotels.
- The Company had 673 leased hotels, 3,024 manachised hotels, and 206 franchised hotels in operation in 384 cities.
- The number of hotel rooms in operation totaled 393,417 (+9.4% Y/Y)
- Operating cash inflow was $172.3M (NYSE:MMM); cash, equivalents and restricted cash of $678.1M.
- The Company had a total debt balance of $1.25B.
- Q3 Outlook: Net revenues to grow 10.5-12.5% Y/Y.
- 2018 Outlook: Net revenues growth of 18-22%; Gross hotel opening to 680-730 & hotel closure of ~240.
- Previously: Huazhu beats by $0.03, beats on revenue (Aug. 22)
- Now read: SQM -3% as Q2 earnings fail to excite investors
Original article