GreenTree Hospitality Reports Growth In New Hotel Openings & RevPAR Recovery In Q1
Portfolio Pulse from Nabaparna Bhattacharya
GreenTree Hospitality Group Ltd. (NYSE:GHG) reported preliminary Q1 2023 results, expecting revenues of $54 million-$56.7 million. The company opened 91 new hotels, and total revenues from organic hotels increased by 16.8% YoY to $36.8 million. The revenue per available room (RevPAR) recovered to 94.3% of its Q1 2019 level. The restaurant business is estimated to have generated a combined unaudited revenue of about $17.3 million to $19.9 million. GHG shares are trading higher by 2.85% to $5.42.
July 12, 2023 | 3:57 pm
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GreenTree Hospitality's Q1 2023 preliminary results show growth in revenues and hotel openings. The recovery of RevPAR to 94.3% of its Q1 2019 level indicates a positive trend. GHG shares are trading higher by 2.85%.
The company's growth in revenues and hotel openings, along with the recovery of RevPAR, indicates a positive trend in its operations. This has likely contributed to the increase in GHG's share price.
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