Shanghai-headquartered hotel chain Huazhu Group reported its first quarter results on May 30.
Revenue increased 15.2% year-over-year to RMB 2.7 billion (USD 423 million) for the quarter compared to the first quarter of 2021. Revenue from Legacy-Huazhu segment for the first quarter of 2022 increased 4.6%.
Net loss attributable to Huazhu Group was RMB 630 million (USD 99 million) for the first quarter of 2022, compared with RMB 248 million for the first quarter of 2021.
In the second quarter of 2022, Huazhu expects revenue to decline 2% to 6% compared to the second quarter of 2021, or to decline 23% to 27% if excluding DH, mainly due to large impacts from Omicron variant outbreak in China.
The company had 7,988 hotels or 764,859 hotel rooms in operation as of March 31, 2022, including 120 hotels from DH.
The occupancy rate for all Legacy-Huazhu hotels in operation was 59.2% in the first quarter of 2022, compared with 80.6% in the first quarter of 2019. RevPAR was RMB 132 in the quarter, compared with RMB 178 in the first quarter of 2019.
Occupancy rate for all Legacy-DH hotels in operation was 38.0% in the first quarter of 2022, compared with 18.8% in the first quarter of 2021 and 46.1% in the previous quarter. RevPAR was EUR 33 in the first quarter of 2022, compared with EUR 13 in the first quarter of 2021.
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