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H World Group Limited

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Huazhu Hotels Group
Company typePublic
Nasdaq: HTHT
IndustryHospitality Management
Founded2005
FounderJi Qi
Headquarters
Minhang District, Shanghai
,
China

Huazhu Hotels Group (NASDAQ: HTHT；HKEX: 01179.HK )(simplified Chinese: 华住酒店集团; traditional Chinese: 華住酒店集團; pinyin: Huázhù Jiǔdiàn Jítuán) is a hotel management company in China. As of 30 June 2023, H World has a total of 8,750 hotels and 844,417 rooms in operation in 18 countries. In 2010, H World Group was successfully listed on the NASDAQ in the United States; in September 2020, H World Group achieved a secondary listing on the Main Board of the Hong Kong Stock Exchange. In the "World's Top 50 Hotel Brands List", H World's HanTing Hotel, JI Hotel and Ni Hao Hotel are all on the list. HanTing, a subsidiary of H World, has been ranked as one of the top 100 Chinese brands by BrandZ for six consecutive years,[1] and in January 2023, H World was listed in the Hurun China 500 Most Valuable Private Companies 2022 and ranked No. 126.[2]

The company operates 31 hotel and apartment brands, covering the luxury to economy markets. The brands operated in China include Joya Hotel, Blossom House, Madison International Hotel, Crystal Orange Hotel, Manxin Hotel, Madison Hotel, Mercure Hotel, CitiGO Hotel, JI Hotel, Orange Hotel, HanTing Hotel, Starway Hotel, Ibis, Hi Inn Hotel, NiHao Hotel, CJIA Apartment and Suisse Place, as well as co-development rights for Grand Mercure and Novotel, and Citadines Apartment Hotel.[3]

History

China Lodging was established in 2005.[4] The original company, Powerhill, was established in 2005, and the current Huazhu company was established in 2007.[5]

The first hotel of the group opened by Kunshan Railway Station for a trial operation in August 2005.[6]

Ji Qi (Chinese: 季琦,; pinyin: Jì Qí),[7] the founder, stated that he got the idea to start the chain by reading a book discussing Accor. In 2012, the company had four brands and about 1,000 properties in China.[8]

In March 2010, HanTing Hotel Group, Inc. went public on the New York Stock Exchange, ticker symbol: “HTHT”.[9]

In November 2012, the group's Chinese name was renamed to Huazhu Hotels Group.[10]

In December 2014, signed a long-term strategic alliance agreement with Accor in France,[11] which was finalized in January 2016.[12]

In May 2015, former president Jenny Zhang was appointed chief executive officer.[13]

In February 2017, the company wholly acquired Orange Crystal Hotel Group, which owns the brands Orange Crystal Hotel and Orange Hotel.[14]

In April 2017, the company launched the first Manxin Hotel.[15]

In August 2018, Huazhu Hotels Group announced the completion of its strategic acquisition of the Chinese boutique resort hotel brand, Blossom.[16]

In October 2019, the first overseas directly-managed shop of JI Hotel was officially opened in Singapore's historic Orchard Road shopping district, as the first overseas hotel of Huazhu Hotels Group.[17]

In November 2019, the company announced that one of their subsidiaries purchased Deutsche Hospitality for 700 million euros.[18]

In January 2020, the company completed the acquisition of all equity interest in Deutsche Hospitality Group, whose hotel brands include Steigenberger ICONS, Steigenberger Upscale, MAXX by Steigenberger, IntercityHotel and Zleep.[19]

In September 2020, the company achieved a secondary listing on the Main Board of the Hong Kong Stock Exchange under the ticker symbol 1179.HK.[20]

In March 2021, Huazhu and Sunac Cultural and Tourism established a joint venture - Yongle Huazhu Hotel Management Company Limited - to jointly develop the high-end hotel business.[21]

In September 2022, the company changed its name to H World Group Limited, or H World.[22]

A Hanting Hotel
A Ji Hotel in Guangqumen, Beijing

Partnership with Accor

Under franchise agreements, 300 economy and middle-scale hotels have opened in China, mainly under the Ibis, Novotel, and Mercure brands.[23]

Purchase of Deutsche Hospitality

China Lodging Holding Singapore, a wholly-owned subsidiary of Huazhu Hotels Group, has acquired 100% equity interest in Deutsche Hospitality (DH).

DH's major hotel brands include Steigenberger Hotels & Resort, Maxx by Deutsche Hospitality, IntercityHotel, Jaz in the City, and Zleep Hotels.[24]

Financial results

Financial results[25]
Year 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
Revenue(RMB, in millions) 2,249 3,224 4,168 4,965 5,775 6,573 8,229 10,063 11,212 10,196
Net Income(RMB, in millions) 114 175 280 307 437 774 1,228 716 1,769 (2,192)
Ji Hotel Orchard Singapore near Dhoby Ghaut MRT station, Singapore, the first Ji Hotel outside China.
Shareholders[26]
Founders/managers 33.4%
Trip.com Group Limited 6.9%
Invesco Ltd. 11.5%
Accor 3.3%
East Leader International Limited 8.1%
Winner Crown Holdings Limited 22.4%
Floating 14.4%

See also

References

  • Ruetz, David and Macy Marvel. "Budget Hotels: Low Cost Concepts in the U.S., Europe and Asia." In: Conrady, Roland and Martin Buck. Trends and Issues in Global Tourism 2011 (Volume 0 of Trends and Issues in Global Tourism). Springer Science & Business Media, February 4, 2011. Start p. 99. ISBN 3642177670, 9783642177675.

Notes

  1. ^ "Ranking the Brands top 100". BrandZ. Retrieved 2023-01-22.
  2. ^ "2021 worldwide ranking of hotel groups: global leaders slow down but keep expanding their portfolios". Hospitality ON. Retrieved 2022-01-22.
  3. ^ "H World Group Limited". H World. Retrieved 2023-01-22./
  4. ^ Conrady, Roland; Buck, Martin (2011-02-04). Trends and Issues in Global Tourism 2011. Springer Science & Business Media. ISBN 978-3-642-17767-5.
  5. ^ "Investor FAQs" (Archive).
  6. ^ "汉庭酒店16周年，回顾第一家汉庭酒店是如何创立的？". Rizhao Daily. 2021-08-24. Archived from the original on 2022-12-23. Retrieved 2022-02-09.
  7. ^ "华住酒店集团公布2013年第二季度财报 净利润同比增长37%，单季门店开业数量创新高" (Archive). Huazhu Hotels Group. July 30, 2014. Retrieved on July 30, 2014. "执行董事长兼CEO季琦在财报中披露"
  8. ^ "A new hotel every two days -- Chinese chain bids to be world's biggest" (Archive). CNN. July 13, 2012. Retrieved on July 30, 2014.
  9. ^ "京华网-做有态度的京华新闻网". www.jinghva.com. Retrieved 2022-02-06.
  10. ^ "汉庭创始人回归掀变革风暴 集团更名"华住"_科技_腾讯网". tech.qq.com. Retrieved 2022-02-06.
  11. ^ "Groundbreaking alliance between Accor and Huazhu (China Lodging) creates a hotel giant in China". Strategic Partnering. 2015-01-30. Retrieved 2022-02-09.
  12. ^ "AccorHotels and Huazhu finalize their strategic alliance"
  13. ^ "China Lodging Group (HTHT) Names New CEO". Retrieved 13 July 2015.
  14. ^ "华住酒店36.5亿收购桔子水晶 收购后仍独立运营|界面新闻". www.jiemian.com. Retrieved 2023-10-05.
  15. ^ 环球旅讯. "华住漫心：瞄准年轻市场 仓促上阵还是胸有成竹？ - 环球旅讯(TravelDaily)". www.traveldaily.cn (in Chinese). Retrieved 2023-10-05.
  16. ^ "Huazhu Group Limited Announces Acquisition of Blossom Hill Hotels & Resorts". H World Group Limited.
  17. ^ "华住酒店集团海外首家酒店在新加坡开业_中国". www.sohu.com. Retrieved 2023-10-06.
  18. ^ "Nasdaq-listed Huazhu Group acquires Deutsche Hospitality". Business Traveller. Retrieved 2023-01-03.
  19. ^ Behuria, Preeti (2019-11-05). "China's Huazhu Group agrees to acquire Deutsche Hospitality for $780m". Hotel Management Network. Retrieved 2023-10-05.
  20. ^ "Huazhu Group Plans Secondary Listing in Hong Kong". Hospitality ON. Retrieved 2023-10-05.
  21. ^ "永乐华住获22家融创酒店管理授权-新华网". www.xinhuanet.com. Retrieved 2023-10-06.
  22. ^ MarketScreener (2022-08-01). "H World : COMPLETION OF REGISTRATION OF CHANGE OF NAME IN HONG KONG; - Form 6-K -August 01, 2022 at 09:55 am EDT | MarketScreener". www.marketscreener.com. Retrieved 2023-10-06.
  23. ^ Net, Hospitality. "Accor to sell a 1.5% stake in Huazhu for €239m". Hospitality Net. Retrieved 2022-01-24.
  24. ^ Fox, Jena Tesse (2019-11-04). "China's Huazhu drops €700M for Germany's Deutsche Hospitality". Hotel Management. Retrieved 2022-01-24.
  25. ^ "Annual Reports | Huazhu Group Limited". ir.huazhu.com. Retrieved 2022-02-11.
  26. ^ "华住最新股权披露：携程持股6.9%_雅高". www.sohu.com. Retrieved 2022-02-11.
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