Jin Jiang Hotels earns 49.2% more y-o-y for shareholders in first half
Shanghai Jin Jiang International Hotels Group chalked up 50.5% increase in operating profit, totaling RMB1.325 billion in the first half of the year.
Shanghai Jin Jiang International Hotels Group chalked up 50.5% increase in operating profit, totaling RMB1.325 billion (approx: US$208 million) in the first half of the year. Sales turnover in the period totaled RMB5.455 billion (approx: US$856.3 million), up 26.2%, and profit attributable to shareholders was also up 49.2% y-o-y to RMB629 million (approx: US$98.7 million).
Jin JIang Hotels budget hotel chain Jinjiang Inn
Jin Jiang Hotels owns or operates over 3,000 hotels in 55 countries worldwide with over 360,000 rooms, according to the group's half-year fiscal report. Of these, 1,400 hotels and 190,000 rooms are in China.
Jin Jiang Hotels reported its full-service hotels generated earnings of RMB924 million, or 16.9% of the group’s total turnover.
Its directly-managed hotels achieved 6.1% growth in RevPAR, whereas the RevPAR of the hotels in the Shanghai area increased 8.3%.
The group’s limited-service hotels such as the Metropolo Jin Jiang Hotels and Louvre Hotels Group brands, which it wholly acquired in the first half of the year, generated earnings of RMB2.362 billion (approx: US$370 million), a hike of 90.6% y-oy. The turnover of these hotels was equivalent to 43.3% of the group’s total turnover.
Actively pursuing market partnerships online, Jin Jiang Hotels formed a marketing partnership with Japan-based Prince Hotels and Resorts to secure mutual advantage in key customer resource markets and upgrade branding power.
Jin Jiang Group’s hotel management and tourism divisions trialed a new one-stop online sale service for new hotels to provide packaged deals of accommodation, travel and recreation. The service has become a form of quality guarantee high quality for Jin Jiang Travel’s domestic tourism routes.
Jin Jiang Hotels said it take advantage of opportunities presented by the State’s reform of state-owned assets to accelerate marketization. It will also explore innovation and transformation in business models to fit with the online economic era, integrating hotels with passenger transportation logistics and tourism. It will increase overall ROI from assets and corporate value by opening multiple online marketing channels and improve corporate working structure with employee cost and development planning via a modern HR management system that balances high growth with globalization.(Translation by David)