Three of China’s largest hotel groups—Jinjiang, H World and BTG—have released their 2024 financial results, offering insights into their evolving strategies and the future directions of China’s hospitality sector.
Revenue performance in 2024
The latest earnings show clear contrasts in growth trajectories among the three hotel giants:
* H World led the market with annual revenue of RMB 23.9 billion (about USD 3.27 billion), reflecting robust growth with a 9.2% year-on-year increase.
* BTG Hotels Group reported RMB 7.75 billion (about USD 1.06 billion) in revenue, down slightly by 0.54% from the previous year.
* Jinjiang Hotels Group recorded RMB 14.06 billion (about USD 1.92 billion), representing a 4% decline.
Business segments
Each company showcased distinct operational focuses:
* BTG Hotels Group demonstrated strong cost control capabilities, reflecting disciplined management.
* H World stood out with significant revenue growth, though profitability remains a key area for improvement.
* Jinjiang Hotels Group faces pressure to enhance the profitability of its core hotel business.
Operational metrics: RevPAR, OCC, and ADR
In 2024, all three groups experienced challenges in operational efficiency amid intensified market competition.
Maintaining average daily rates while improving occupancy proved difficult, making RevPAR optimization a shared challenge across the board.
Strategic priorities and future focus
The three groups are pursuing notably different strategies to drive future growth:
* BTG Hotels Group is prioritizing expansion into lower-tier markets and optimizing its upper midscale brand portfolio.
* H World continues to push for rapid expansion, brand upgrades, and digital operational enhancements.
* Jinjiang Hotels Group is sharpening its global strategy, promoting platform synergy, and exploring diversified business models, including long-term rental apartments, to strengthen its competitive edge.
As consumer preferences evolve and market competition intensifies, adaptability will be key. Whether through digital transformation, geographic expansion, or business model innovation, each group’s ability to navigate uncertainty will define its role in shaping the next chapter of China’s hotel industry.
