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Huazhu Group net loss narrows for the third quarter of 2021

11/25/2021| 2:51:50 PM| ChinaTravelNews 中文

The occupancy rate for all Legacy-Huazhu hotels in operation was 71.9% in the third quarter of 2021, a decrease of 10 percentage points from the same period of 2020.

Huazhu Group Limited announced its unaudited financial results for the third quarter ended September 30, 2021.

Revenue for the third quarter of 2021 was RMB3.5 billion (US$547 million), representing an 11.6% year-over-year increase and a 1.8% sequential decrease. 

Net loss attributable to Huazhu Group Limited was RMB137 million (US$22 million) for the third quarter of 2021, compared with RMB212 million for the third quarter of 2020.

In the fourth quarter of 2021, Huazhu expects revenue growth to be in the range of 6%-10% compared to the fourth quarter of 2020, or revenue reduction to be in the range of 4% to 8% if excluding DH. 

For the full year of 2021, Huazhu expects revenue growth to range from 22% to 26%, or to range from 26% to 30% excluding DH. 

As of September 30, 2021, Huazhu’s worldwide hotel network in operation totaled 7,466 hotels and 722,983 rooms, including 121 hotels from DH. As of September 30, 2021, Huazhu had a total of 2,827 unopened hotels in pipeline, including 2,788 hotels from the Legacy-Huazhu business and 39 hotels from the Legacy-DH business.

Legacy-Huazhu Only – Third Quarter of 2021 Operational Highlights

As of September 30, 2021, Legacy-Huazhu had 7,345 hotels in operation. 

The ADR was RMB246 in the third quarter of 2021, compared with RMB218 in the third quarter of 2020, RMB255 in the previous quarter, and RMB245 in the third quarter of 2019.

The occupancy rate for all Legacy-Huazhu hotels in operation was 71.9% in the third quarter of 2021, compared with 82.0% in the third quarter of 2020, 82.3% in the previous quarter, and 87.7% in the third quarter of 2019.

Blended RevPAR was RMB177 in the third quarter of 2021, compared with RMB179 in the third quarter of 2020, RMB210 in the previous quarter, and RMB215 in the third quarter of 2019.

Legacy-DH Only – Third Quarter of 2021 Operational Highlights

As of September 30, 2021, Legacy-DH had 121 hotels in operation. 

The ADR was EUR99 in the third quarter of 2021, compared with EUR93 in the third quarter of 2020 and EUR81 in the previous quarter.

The occupancy rate for all Legacy-DH hotels in operation was 48.6% in the third quarter of 2021, compared with 37.9% in the third quarter of 2020 and 24.4% in the previous quarter.

Blended RevPAR was EUR48 in the third quarter of 2021, compared with EUR35 in the third quarter of 2020 and EUR20 in the previous quarter.

TAGS: Huazhu | financial result
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