Jin Jiang Hotels announces 2015 revenue up by 29.9%
Jin Jiang Hotels reports revenue of RMB12.1 billion, increased by 29.9% YoY
Jin Jiang Hotels announced full-year 2015 financial results of the Company and its subsidiaries. The company realised revenue of approximately RMB12,160,429,000, representing an increase of approximately 29.9% as compared to the same period of the previous year.
Operating profit amounted to approximately RMB2,010,414,000, representing an increase of approximately 28.2% as compared to the same period of last year. Earnings before interests, taxes, depreciation and amortization (“EBITDA”) amounted to approximately RMB3,394,995,000, representing an increase of approximately 28.3% as compared to the same period of last year. Profit attributable to shareholders of the Company amounted to approximately RMB865,523,000, representing an increase of approximately 39.3% as compared to the same period of last year. The Board has proposed a final dividend of RMB6.5 cents (inclusive of tax) for the year.
The company held or managed a total of 3,090 hotels with approximately 374,000 rooms in aggregate in 61 countries. Among the said hotels, a total of 1,451self-owned or managed hotels were either in operation or under construction within China with approximately 195,000 rooms.
Jin Jiang Hotels reported breakthroughs in its development in internationalisation. In February 2015, the Group entered into a share purchase agreement with Star SDL Investment Co S.à.r.l. through Sailing Investment Co, S.à.r.l., a wholly-owned subsidiary of Jin Jiang Hotels Development, for the acquisition of 100% equity interests in Groupe du Louvre (“GDL”). At the end of February 2015, all the matters relating to the closing of the acquisition were completed and GDL was consolidated in the financial statements. The successful completion of the acquisition has resulted in substantial growth in various operating indicators for the company, such as total assets, operating revenue, cash flow, number of hotels and number of guest rooms.
In September 2015, Jin Jiang Hotels Development entered into an agreement for strategic investments in Plateno Group and completed the transaction in February 2016. Following the completion of the transaction, the company owned or managed over 6,000 hotels in the world with more than 650,000 guest rooms resulting in a substantial growth in the size of its hotel operations.
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