Huazhu Hotels Group

Huazhu Hotels Group Ltd (NASDAQ: HTHT；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. In 2021, it was ranked the seven largest hotel group in the world.[1] As of June 2020, Huazhu Hotels Group operates 6,187 properties in 16 countries. It was previously known as Hanting Inns or China Lodging Group Limited. The company's head office is located in Minhang District, Shanghai.

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

History

China Lodging was established in 2005.[2] The original company, Powerhill, was established in 2005, and the current Huazhu company was established in 2007.[3]

The first hotel of the group opened by Kunshan Railway Station for a trial operation in August 2005.[4]

Ji Qi (Chinese: 季琦,; pinyin: Jì Qí),[5] 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.[6]

In March 2010, China Lodging was listed on NASDAQ.[7]

In November 2012, the group was renamed to Huazhu Hotels Group.[8]

In December 2014, Huazhu Hotels Group signed a long-term strategic alliance agreement with Accor in France,[9] which was finalized in January 2016.[10]

In May 2015, former president Jenny Zhang was appointed chief executive officer.[11]

In August 2018, the company faced a major data breach, where millions of customer data was leaked and sold on the dark web.[12]

In November 2019, the company announced that one of their subsidiaries purchased Deutsche Hospitality for 700 million euros.[13]

A Hanting Hotel
A Ji Hotel in Guangqumen, Beijing

Partnership with Accor

On December 15, 2014, Huazhu signed a long-term strategic alliance agreement with Accor to jointly expand its hotel business in China. According to the agreement, Mercure, Novotel, Mercure, Ibis Style and Ibis will be operated by Huazhu in China and Mongolia.

Under franchise agreements, 300 economy and middle-scale hotels have opened in China, mainly under the Ibis, Novotel, and Mercure brands.[14]

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.[15]

Financial results
Financial results[16]
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)
Shareholders[17]
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. "2021 worldwide ranking of hotel groups: global leaders slow down but keep expanding their portfolios". Hospitality ON. Retrieved 2022-01-22.
  2. Conrady, Roland; Buck, Martin (2011-02-04). Trends and Issues in Global Tourism 2011. Springer Science & Business Media. ISBN 978-3-642-17767-5.
  3. "Investor FAQs" (Archive).
  4. "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 2021-08-24. Retrieved 2022-02-09.
  5. "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"
  6. "A new hotel every two days -- Chinese chain bids to be world's biggest" (Archive). CNN. July 13, 2012. Retrieved on July 30, 2014.
  7. "京华网-做有态度的京华新闻网". www.jinghva.com. Retrieved 2022-02-06.
  8. "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.
  9. "Groundbreaking alliance between Accor and Huazhu (China Lodging) creates a hotel giant in China". Strategic Partnering. 2015-01-30. Retrieved 2022-02-09.
  10. "AccorHotels and Huazhu finalize their strategic alliance"
  11. "China Lodging Group (HTHT) Names New CEO". Retrieved 13 July 2015.
  12. "Chinese hotel group investigates possible leak of millions of guests' data". BBC News. 29 August 2018. Retrieved 29 August 2018.
  13. "Nasdaq-listed Huazhu Group acquires Deutsche Hospitality". Business Traveller. Retrieved 2023-01-03.
  14. Net, Hospitality. "Accor to sell a 1.5% stake in Huazhu for €239m". Hospitality Net. Retrieved 2022-01-24.
  15. Fox, Jena Tesse (2019-11-04). "China's Huazhu drops €700M for Germany's Deutsche Hospitality". Hotel Management. Retrieved 2022-01-24.
  16. "Annual Reports | Huazhu Group Limited". ir.huazhu.com. Retrieved 2022-02-11.
  17. "华住最新股权披露：携程持股6.9%_雅高". www.sohu.com. Retrieved 2022-02-11.
Wikimedia Commons has media related to Huazhu Hotels Group.
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.