Huazhu Group Limited (HTHT) Misses Q3 EPS by 10c, Revenues Miss; Maintains Revenue Growth Outlook
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Huazhu Group Limited Reports Third Quarter of 2019 Financial Results
November 12, 2019 4:30 PM ESTA total of 5,151 hotels or 504,414 hotel rooms in operation as of September 30, 2019.
Hotel turnover1 increased 19% year-over-year to RMB10 billion for the third quarter of 2019.Net revenues increased 10.4% year-over-year to RMB3.1 billion (US$427 million)2 for the third quarter of 2019, in line with the revenue guidance previously announced of 9%-11%.The Company entered into a share purchase agreement to acquire all shares in Steigenberger Hotels Aktiengesellschaft, Germany (Deutsche Hospitality). The acquisition is expected to complete in January 2020.... More
