Alpha Wang's questions to GreenTree Hospitality Group Ltd (GHG) leadership • Q1 2024
Question
Alpha Wang of Goldman Sachs questioned how the company would achieve its full-year revenue guidance given the RevPAR decline in H1. He also asked for the hotel opening target for the year and its breakdown by L&O versus F&M.
Answer
Executive Alex Xu clarified that the 7-12% hotel revenue growth guidance remains intact because strong revenue contributions from newly opened F&M hotels and high-performing L&O properties are expected to more than compensate for the RevPAR softness in the existing portfolio. Xu stated the full-year target is 480 new hotel openings, with approximately 99% being franchised and managed (F&M).