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China Lodging Group, Limited (Nasdaq: HTHT) announced preliminary hotel operating results for the fourth quarter of 2012.
In the fourth quarter of 2012, the Company added 51 leased (“leased-and-operated”) hotels and 69 net manachised (“franchised-and-managed”) hotels. As of December 31, 2012, the Company had 466 leased hotels, 515 manachised hotels, and 54 franchised Starway hotels in operation. In the fourth quarter of 2012, excluding franchised Starway hotels, the blended RevPAR came in at RMB162, compared with RMB167 in the same quarter of 2011. For the hotels in operation for at least 18 months, excluding franchised Starway hotels, the RevPAR was RMB179, representing a 2% same-hotel RevPAR increase year-over-year, with a 1% increase in ADR and a 1% increase in occupancy.
Branding Update
In the fourth quarter of 2012, the Company changed its Chinese name from HanTing to Hua Zhu, demonstrating the Company’s ambition to grow from an economy hotel chain to a multi-brand hotel group. China Lodging Group now has five hotel brands, namely, Joya Hotel, Ji Hotel (previously Seasons Hotel), Starway Hotel, HanTing Hotel, and Hi Hotel (Previously Hi Inn).
Mr Qi Ji, founder, executive Chairman and Chief Executive Officer of the Company, commented, “We added 120 net new hotels in the fourth quarter and 396 net new hotels in 2012, exceeding our full year expansion plan. In addition to our strong operating results, we continued to enrich our brand portfolio to target a wider spectrum of customers with fast-growing and diversified travel demand.”
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