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H World Group Limited

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H World Group Limited (simplified Chinese: 华住酒店集团; traditional Chinese: 華住酒店集團; pinyin: Huázhù Jiǔdiàn Jítuán), formerly Huazhu Hotels Group in English, is a hotel management company in China. In 2010, H World Group was listed on Nasdaq; in September 2020, H World Group achieved a secondary listing on the Main Board of the Hong Kong Stock Exchange. and in January 2023, H World was listed in the Hurun China 500 Most Valuable Private Companies 2022 and ranked No. 126.[2] Its headquarters are in Jiading District, Shanghai.[1]

H World Group Limited
Company typePublic
Nasdaq: HTHT
IndustryHospitality Management
Founded2005; 19 years ago (2005)
FounderJi Qi
Headquarters
Jiading District, Shanghai[1]
,
China
SubsidiariesH World International

History

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In August 2005, the first HanTing Hotel was built.[3] The first hotel of the group was opened by Kunshan Railway Station for a trial operation in August 2005.[3] Ji Qi (Chinese: 季琦; pinyin: Jì Qí),[4] the founder, stated that he got the idea to start the chain by reading a book discussing Accor.

In January 2010, the first JI Hotel was built.[5] In March 2010, HanTing Hotel Group, Inc. went public on the New York Stock Exchange.[6] In November 2012, the group's Chinese name was renamed to Huazhu Hotels Group.[7]

In December 2014, signed a long-term strategic alliance agreement with Accor in France,[8] which was finalized in January 2016.[9] In May 2015, former president Jenny Zhang was appointed chief executive officer.[10] In February 2017, the company wholly acquired Orange Crystal Hotel Group, which owns the brands Orange Crystal Hotel and Orange Hotel.[11] In April 2017, the company opened the first Manxin Hotel.[12]

In August 2018, Huazhu Hotels Group announced the completion of its strategic acquisition of the Chinese boutique resort hotel brand, Blossom.[13] In October 2019, the first overseas directly-managed shop of JI Hotel was officially opened in Singapore's historic Orchard Road shopping district, as the first overseas hotel of Huazhu Hotels Group.[14] In November 2019, the company announced that one of their subsidiaries purchased Deutsche Hospitality for 700 million euros.[15]

In January 2020, the company completed the acquisition of all equity interest in Deutsche Hospitality, whose hotel brands include Steigenberger, Steigenberger Icons, MAXX by Steigenberger, IntercityHotel and Zleep Hotels.[16] In September 2020, the company achieved a secondary listing on the Main Board of the Hong Kong Stock Exchange under the ticker symbol 1179.HK.[17]

In March 2021, Huazhu and Sunac Cultural and Tourism established a joint venture - Yongle Huazhu Hotel Management Company Limited - to jointly develop the high-end hotel business.[18] In September 2022, the company changed its name to H World Group Limited, or H World.[19]

Corporate affairs

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Structure

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The group is composed of brands like HanTing Hotel,[3] JI Hotel,[20] Orange Hotel,[21] Hi Inn Hotel,[citation needed] Joya Hotel, Blossom House, Madison International Hotel, Crystal Orange Hotel, Manxin Hotel, Madison Hotel, Mercure Hotel, CitiGO Hotel, Starway Hotel, Ibis, NiHao Hotel, CJIA Apartment and Suisse Place, as well as co-development rights for Grand Mercure and Novotel, and Citadines Apartment Hotel.[22]

Under franchise agreements with Accor, 300 economy and middle-scale hotels have opened in China, mainly under the Ibis, Novotel, and Mercure brands.[23][better source needed]

China Lodging Holding Singapore, a wholly-owned subsidiary of Huazhu Hotels Group, also acquired 100% equity interest in Deutsche Hospitality,[24] which has since been rebranded to H World International and operates brands such as Steigenberger and IntercityHotel.

Financial results

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Financial results[25]
Year 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
Revenue (RMB, in millions) 2,249 3,224 4,168 4,965 5,775 6,573 8,229 10,063 11,212 10,196 12,785 13,862
Net Income (RMB, in millions) 114 175 280 307 437 774 1,228 716 1,769 (2,192) （465） （1,821）

See also

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References

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  1. ^ a b "Contact us". H World. Retrieved 2024-09-12. 1299, Fenghua Road, Jiading District, Shanghai, China - Chinese address: "中国上海市嘉定区丰华路1299弄"
  2. ^ "2021 worldwide ranking of hotel groups: global leaders slow down but keep expanding their portfolios". Hospitality ON. Archived from the original on 18 March 2021. Retrieved 2022-01-22.
  3. ^ a b c "汉庭酒店16周年，回顾第一家汉庭酒店是如何创立的？". Rizhao Daily. 2021-08-24. Archived from the original on 2022-12-23. Retrieved 2022-02-09.
  4. ^ "华住酒店集团公布2013年第二季度财报 净利润同比增长37%，单季门店开业数量创新高" (Archive). Huazhu Hotels Group. July 30, 2014. Retrieved on July 30, 2014. "执行董事长兼CEO季琦在财报中披露"
  5. ^ "The H World algorithm: How a Chinese brand keeps changing the hotel business - Caixin Global". www.caixinglobal.com. Retrieved 2023-11-01.
  6. ^ "京华网-做有态度的京华新闻网". www.jinghva.com. Retrieved 2022-02-06.
  7. ^ "汉庭创始人回归掀变革风暴 集团更名"华住"_科技_腾讯网". tech.qq.com. Retrieved 2022-02-06.
  8. ^ "Groundbreaking alliance between Accor and Huazhu (China Lodging) creates a hotel giant in China". Strategic Partnering. 2015-01-30. Retrieved 2022-02-09.
  9. ^ "AccorHotels and Huazhu finalize their strategic alliance"
  10. ^ "China Lodging Group (HTHT) Names New CEO". Retrieved 13 July 2015.
  11. ^ "华住酒店36.5亿收购桔子水晶 收购后仍独立运营|界面新闻". www.jiemian.com. Retrieved 2023-10-05.
  12. ^ 环球旅讯. "华住漫心：瞄准年轻市场 仓促上阵还是胸有成竹？ - 环球旅讯(TravelDaily)". www.traveldaily.cn (in Chinese). Retrieved 2023-10-05.
  13. ^ "Huazhu Group Limited Announces Acquisition of Blossom Hill Hotels & Resorts". H World Group Limited.
  14. ^ "华住酒店集团海外首家酒店在新加坡开业_中国". www.sohu.com. Retrieved 2023-10-06.
  15. ^ "Nasdaq-listed Huazhu Group acquires Deutsche Hospitality". Business Traveller. Retrieved 2023-01-03.
  16. ^ Behuria, Preeti (2019-11-05). "China's Huazhu Group agrees to acquire Deutsche Hospitality for $780m". Hotel Management Network. Retrieved 2023-10-05.
  17. ^ "Huazhu Group Plans Secondary Listing in Hong Kong". Hospitality ON. Retrieved 2023-10-05.
  18. ^ "永乐华住获22家融创酒店管理授权-新华网". www.xinhuanet.com. Retrieved 2023-10-06.
  19. ^ MarketScreener (2022-08-01). "H World : COMPLETION OF REGISTRATION OF CHANGE OF NAME IN HONG KONG; - Form 6-K -August 01, 2022 at 09:55 am EDT | MarketScreener". www.marketscreener.com. Retrieved 2023-10-06.
  20. ^ "在新加坡设首个国际总部 华住创始人季琦分享心得 | 联合早报". www.zaobao.com.sg (in Simplified Chinese). Retrieved 2023-11-15.
  21. ^ "华住全资收购桔子水晶 但酒店行业的升级不止买买买-36氪". 36kr.com. 2017-03-01. Retrieved 2023-11-15.
  22. ^ "H World Group Limited | LinkedIn". cn.linkedin.com. 2008-08-01. Retrieved 2024-01-10.
  23. ^ Net, Hospitality. "Accor to sell a 1.5% stake in Huazhu for €239m". Hospitality Net. Retrieved 2022-01-24.
  24. ^ Fox, Jena Tesse (2019-11-04). "China's Huazhu drops €700M for Germany's Deutsche Hospitality". Hotel Management. Retrieved 2022-01-24.
  25. ^ "Annual Reports | Huazhu Group Limited". ir.huazhu.com. Retrieved 2022-02-11.

Further reading

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  • Ruetz, David and Macy Marvel. "Budget Hotels: Low Cost Concepts in the U.S., Europe and Asia." In: Conrady, Roland and Martin Buck. Trends and Issues in Global Tourism 2011 (Volume 0 of Trends and Issues in Global Tourism). Springer Science & Business Media, February 4, 2011. Start p. 99. ISBN 3642177670, 9783642177675.
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  Media related to Huazhu Hotels Group at Wikimedia Commons

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