Huazhu Group Limited announced its unaudited financial results for the third quarter ended September 30, 2021.
For Legacy-Huazhu business, the RevPAR recovery momentum resumed quickly in early July. The blended RevPAR of Legacy-Huazhu in August dropped significantly to only 54% of the 2019 level. In September, the monthly blended RevPAR of Legacy-Huazhu continued to recover, reaching approximately 92% of the 2019 level. The blended RevPAR of Legacy-Huazhu during the Golden Week recovered to only approximately 82% of the 2019 level.
Despite the uncertainty of the COVID-19 situation, Huazhu signed up over 20 upscale hotels in early October through the joint venture with Sunac.
Steigenberger Hotels AG and its subsidiaries (“DH”) observed continued recovery since the first lockdown in November 2020. For the third quarter of 2021, the occupancy rate of DH hotels’ reached approximately 49% and blended RevPAR reached approximately 65% of the 2019 level. Meanwhile, DH continued to implement further cost reduction and cash flow management measures, especially regarding personnel and lease costs.
The ADR was RMB 246 in the third quarter of 2021, compared with RMB 218 in the third quarter of 2020, an increase of 12.8% year-on-year.
The occupancy rate for all Legacy-Huazhu hotels in operation was 71.9% in the third quarter of 2021, compared with 82% in the third quarter of 2020, 82.3% in the previous quarter, and 87.7% in the third quarter of 2019.
Blended RevPAR was RMB 177 in the third quarter of 2021, compared with RMB 179 in the third quarter of 2020, RMB 210 in the previous quarter, and RMB 215 in the third quarter of 2019.
