RevPAR of the Legacy-Huazhu hotels (excluding Deutsche Hospitality) for the fourth quarter was RMB 186, down by 2.4% year-over-year, but up from RMB 179 in the previous quarter.
The company has served 30,000 short-term rental hosts/managers with over 4,000 paid customers across 300+ cities.
The full-year profit prediction for 2020 demonstrates a positive sign of recovery, as the company reported a net loss of RMB 306 million for the first half of the year.
Upscale hotel chain just got listed on Hong Kong Stock Exchange less than two years ago.
Unlike studio-themed parks in America and Europe which tend to look towards the past, the relative youth of China’s homegrown IP-based LBE industry is all about looking forward.
The Beijing-headquartered company is now serving more than 5,000 hotel clients and has been adding over 1,000 clients every month.
MGM Resorts said it will continue to take actions that are in the best interests of its stakeholders.
In a response to ChinaTravelNews' inquiry on the matter, a Trip.com Group spokesperson replied: "no comment."
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