Huazhu Group Limited Reports First Quarter of 2020 Financial Results
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Huazhu Group Limited (HTHT) Tops Q1 EPS by 58c
June 30, 2020 5:03 PM EDTHuazhu Group Limited (NASDAQ: HTHT) reported Q1 EPS of ($1.05), $0.58 better than the analyst estimate of ($1.63). Revenue for the quarter came in at $214 million.
A total of 5,953 hotels or 575,488 hotel rooms in operation and 2,375 unopened hotels in pipeline as of March 31, 2020. Excluding Deutsche Hospitality (DH), a total of 5,838 hotels or 552,362 hotel room in operation.Hotel turnover1 decreased 32% year-over-year to RMB5 billion for the first quarter. Excluding DH, hotel turnover decreased 49%.Net revenues decreased 15.7% year-over-year to RMB2.0 billion (US$284 million)2 for the first quarter, in line with revenue guidance previously announced of 15% to 20%... More