China Lodging Group, Limited Announces Preliminary Hotel Operating Results for Second Quarter of 2012
China Lodging Group, a leading and high-growth limited service hotel chain operator in China, today announced preliminary hotel operating results for the second quarter of 2012.
China Lodging Group, Limited ("China Lodging Group" or the "Company"), a leading and high-growth limited service hotel chain operator in China, today announced preliminary hotel operating results for the second quarter of 2012.
In the second quarter of 2012, the Company opened 35 net leased ("leased-and-operated") hotels and 43 net manachised ("franchised-and-managed") hotels. The Company also completed an investment in Starway Hotels (Hong Kong) Limited ("Starway") to own a majority stake. As of June 30, 2012, the Company had 388 leased hotels, 365 manachised hotels, and 110 franchised Starway hotels in operation. In the second quarter of 2012, excluding franchised Starway hotels, the blended RevPAR came in at RMB176, representing a year-over-year increase of 4%. For the hotels in operation for at least 18 months, excluding franchised Starway hotels, the RevPAR was RMB195, representing a 7% same-hotel RevPAR increase year-over-year, with a 3% increase in ADR and a 4% increase in occupancy.
Mr Qi Ji, founder, executive Chairman and Chief Executive Officer of the Company, commented, "We have once again delivered a solid quarter. The performance for our overall network improved year-over-year due to strong demand in China"s travel market and our solid execution. The addition of Starway has strengthened our leadership position in the mid-scale hotel market and accelerates our expansion in this segment."
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