China Lodging Group (HTHT) Reports Q4 EPS of $0.48, Miss on Revenues

China Lodging Group (NASDAQ: HTHT) reported Q4 EPS of $0.48, versus $0.00 reported last year. Revenue for the quarter came in at $340.4 million versus the consensus estimate of $344.48 million.

• A total of 3,746 hotels or 379,675 hotel rooms in operation as of December 31, 2017.
• Net revenues increased 32.6% year-over-year to RMB2,214.9 million (US$340.4 million) 1 for the fourth quarter and 25.0% to RMB8,170.2 million (US$1,255.7 million) for the full year of 2017, at the high-end of guidance previously announced .
• EBITDA (non-GAAP) increased 22.9% year-over-year to RMB450.7 million (US$69.3 million) for the fourth quarter and increased 36.5% to RMB2,361.1 million (US$362.9 million) for the full year of 2017.
• Net income attributable to China Lodging Group, Limited was RMB229.4 million (US$35.3 million) for the fourth quarter and RMB1,237.2 million (US$190.2 million) for the full year of 2017, increasing 82.3% year-over-year for the fourth quarter and increasing 53.8% for the full year of 2017.
• Basic earnings per ADS2 were RMB3.28 (US$0.50) for the fourth quarter of 2017 and RMB17.72 (US$2.72) for the full year of 2017. Diluted earnings per ADS were RMB3.13 (US$0.48) for the fourth quarter of 2017 and RMB16.95 (US$2.60) for the full year of 2017. Excluding share-based compensation expenses, adjusted basic earnings per ADS (non-GAAP) were RMB3.55 (US$0.55) for the fourth quarter of 2017 and RMB18.67 (US$2.87) for the full year of 2017 and adjusted diluted earnings per ADS (non-GAAP) were RMB3.39 (US$0.52) for the fourth quarter of 2017 and RMB17.85 (US$2.74) for the full year of 2017.
• The Company provided guidance for Q1 2018 net revenues growth of 27% to 29% year over year and full year 2018 net revenues growth of 16% to 19% from 2017.

Guidance

In the first quarter of 2018, the Company expects net revenues to grow 27% to 29% year-over-year. For the full year 2018, the Company expects net revenues to grow 16% to 19% from 2017.

The Company anticipates the gross opening of 650-700 hotels in 2018, 60%-65% of which are midscale and upscale hotels.

The above forecast reflects the Company’s current and preliminary view, which is subject to change.

For earnings history and earnings-related data on China Lodging Group (HTHT) click here.

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