Shanghai Jin Jiang International Hotels (Group) Co., Ltd. reported 75.48% increase in operating revenue for first half of this year to RMB 4.368 billion, but operating profits dropped 6.8% over the previous year to RMB 360 million in the first half of the year, according to the financial results released on August 29.
The revenue of the company’s operation in mainland China, which accounted for 59.67% of its hotel business, was RMB 2.534 billion, a YoY growth of 95.33%. The revenue of its operation outside mainland China, which accounted for 40.33% of its hotel business, was RMB 1.713 billion, up 60.53%.
Jin Jiang Hotels also reported that the Plateno Group, which it acquired last February, recorded operating revenue of RMB 1.203 billion from March to June this year.
Jin Jiang brands reported average room rate (ARR) of RMB 183.80 and average occupancy rate (AOR) of 74.09% in the first half of the year. Specifically speaking, Metropolo achieved ARR of RMB 311.99 and AOR of 70.12%; Jin Jiang Inn made ARR of RMB 182.13 and AOR of 75.38%; Goldmet Inn chalked up ARR of RMB 151.97 and AOR of 56.79%; and Bestay recorded ARR of RMB 99.32 and AOR of 62.59%. The RevPAR for Metropolo was RMB 218.77, Jin Jiang Inn RMB 137.29, Goldmet RMB 86.30 and Bestay RMB 62.16.
For the Plateno brands, Lavande made RevPAR of RMB 260.16, James Joyce Coffetel registered RevPAR of RMB 234.95, IU Hotel achieved RevPAR of RMB 164.93, and π Hotels’s RevPAR was RMB 135.37. (Translated by Claire)