Bruce Mee's questions to GreenTree Hospitality Group Ltd (GHG) leadership • Q1 2024
Question
Bruce Mee from UBS requested a geographic breakdown for the year's planned new hotel openings, specifically the distribution between Tier 1, Tier 2, and lower-tier cities.
Answer
Executive Yiping Yang provided the breakdown for the 480 planned openings: approximately 62-65% in Tier 3 and lower cities, 15-20% in Tier 2 cities, and the remainder in Tier 1 cities. Executive Alex Xu added that the company is enhancing its development teams to target growth in regions with more 'white space,' such as southern and northeastern China, to achieve a more balanced national footprint.