The following is a summary of the GreenTree Hospitality Group Ltd. (GHG) Q4 2023 Earnings Call Transcript:

Financial Performance:

• GreenTree Hospitality reported a 23.3% year-over-year increase in Hotel RevPAR.

• Total revenues reached RMB 372.2 million, reflecting a 3.2% increase, while hotel revenues surged 21.7% to RMB 289.6 million.

• The company had a net income of RMB 7.4 million with a margin of 2%.

• Adjusted EBITDA was RMB 161.3 million, marking a 2.1% increase with a margin of 31.3%.

• Despite increased operating costs and expenses (9% increase), net income exceeded expectations at RMB 21 million.

Business Progress:

• GreenTree made strides in restructuring its restaurant business, contributing to a 14% rise in daily sales year-over-year.

• Efforts have been made to streamline operations and increase efficiency in both hotel and restaurant sectors.

• Individual memberships increased from 78 million to 91 million, and corporate memberships from 1.94 million to 2.05 million.

• Expansion in the mid-to-upscale hotel segment continued, especially in Tier 3 and lower cities.

• GreenTree anticipates 7%-12% year-over-year growth in 2024 for its organic hotels' total revenues and a 3%-5% increase for combined revenues from its restaurant and organic hotel businesses.

• The company plans for a steady growth of 10%-15% in their hotels over the next 3-5 years while also addressing legacy issues from past M&As.

• GreenTree is set to close a number of unprofitable locations to concentrate on the growth of franchised stores.

More details: GreenTree Hospitality IR

Tips: This article is generated by AI. The accuracy of the content can not be fully guaranteed. For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.