China Lodging Group (HTHT) Reports Q3 EPS of $0.66
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China Lodging Group (NASDAQ: HTHT) reported Q3 EPS of $0.66, versus $0.64 reported last year. Revenue for the quarter increase 10.9% to $266 million .
“We are encouraged by our accelerated blended RevPAR growth this quarter. The year-over-year growth of 3.2% was fueled by the improved blended RevPAR of HanTing hotels thanks to upgrade to HanTing 2.0, coupled with continuously-growing demand for our midscale hotels. In the third quarter, the blended RevPAR of HanTing hotels increased by 0.4% year-over-year, with 30% of rooms under HanTing 2.0 model. We will continue the upgrade program of economy hotels in the next three years, so as to revitalize our flagship brand to attract more customers and franchisees,” said Ms. Jenny Zhang, Chief Executive Officer of China Lodging Group.
“In 2016, our focus remains on product quality. In addition to our economy hotels upgrade program, we have also strengthened the brand and operating standards for our existing hotels by removing a number of hotels that failed to comply with our standards. We have also increased the proportion of midscale and upscale hotels in the portfolio. In the first nine months of 2016, midscale and upscale brands accounted for 27% of our net new openings, and 39% of our pipeline as of September 30, 2016. We believe our continued focus on quality and powerful brand portfolio will lead to better operational performance and financial results in the coming quarters,” Jenny added.
For earnings history and earnings-related data on China Lodging Group (HTHT) click here.
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