VANDA HOTEL Development (00169) announced that ten new hotels managed by the group with more than 1250 rooms will open for business in the three months ended June 30, 2023. As of June 30, 2023, the Group managed a network of 138 hotels and more than 31000 rooms.
The occupancy rate of all hotels in the second quarter of 2023 was 55.7%, an increase of 14.9% over the same period last year; the average daily room rate was 495 yuan, an increase of 21.9% over the same period last year; and the average rental room revenue was 275 yuan, an increase of 65.7% over the same period last year.