Huazhu Hotels Group

Last updated • 3 min readFrom Wikipedia, The Free Encyclopedia
H World Group Limited
Company type Public
Nasdaq:  HTHT
Industry Hospitality Management
Founded2005;19 years ago (2005)
FounderJi Qi
Headquarters,
Subsidiaries H World International

Huazhu Hotels Group (simplified Chinese :华住酒店集团; traditional Chinese :華住酒店集團; pinyin :Huázhù Jiǔdiàn Jítuán), also known as H World Group Limited, 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. [1]

Contents

History

In August 2005, the first HanTing Hotel was built. [2] The first hotel of the group was opened by Kunshan Railway Station for a trial operation in August 2005. [2] Ji Qi (Chinese: 季琦,; pinyin: Jì Qí), [3] 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. [4] In March 2010, HanTing Hotel Group, Inc. went public on the New York Stock Exchange. [5] In November 2012, the group's Chinese name was renamed to Huazhu Hotels Group. [6]

In December 2014, signed a long-term strategic alliance agreement with Accor in France, [7] which was finalized in January 2016. [8] In May 2015, former president Jenny Zhang was appointed chief executive officer. [9] In February 2017, the company wholly acquired Orange Crystal Hotel Group, which owns the brands Orange Crystal Hotel and Orange Hotel. [10] In April 2017, the company opened the first Manxin Hotel. [11]

In August 2018, Huazhu Hotels Group announced the completion of its strategic acquisition of the Chinese boutique resort hotel brand, Blossom. [12] 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. [13] In November 2019, the company announced that one of their subsidiaries purchased Deutsche Hospitality for 700 million euros. [14]

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. [15] 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. [16]

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. [17] In September 2022, the company changed its name to H World Group Limited, or H World. [18]

Corporate affairs

Structure

The group is composed of brands like HanTing Hotel, [2] JI Hotel, [19] Orange Hotel, [20] 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. [21]

Under franchise agreements with Accor, 300 economy and middle-scale hotels have opened in China, mainly under the Ibis, Novotel, and Mercure brands. [22] [ better source needed ]

China Lodging Holding Singapore, a wholly-owned subsidiary of Huazhu Hotels Group, also acquired 100% equity interest in Deutsche Hospitality, [23] which has since been rebranded to H World International and operates brands such as Steigenberger and IntercityHotel.

Financial results

Financial results [24]
Year201120122013201420152016201720182019202020212022
Revenue (RMB, in millions)2,2493,2244,1684,9655,7756,5738,22910,06311,21210,19612,78513,862
Net Income (RMB, in millions)1141752803074377741,2287161,769(2,192)(465)(1,821)

See also

Related Research Articles

<span class="mw-page-title-main">Geely</span> Chinese automotive conglomerate

Zhejiang Geely Holding Group Co., Ltd. (ZGH), commonly known as Geely Holding, is a Chinese multinational conglomerate headquartered in Hangzhou, Zhejiang. The company is privately owned by Chinese entrepreneur Li Shufu, and mainly engaged in the automotive industry.

Accor S.A. is a French multinational hospitality company that owns, manages and franchises hotels, resorts and vacation properties. It is the largest hospitality company in Europe, and the sixth largest hospitality company worldwide.

<span class="mw-page-title-main">Red Roof Inn</span> Economy motel chain

Red Roof Inn is an American economy hotel chain based in the United States with over 600 properties globally, primarily in the Midwest, Southern, and Eastern United States. Red Roof Inn is a pet-friendly hotel chain.

<span class="mw-page-title-main">Shangri-La Hotels and Resorts</span> Hotel chain

Shangri-La Hotels and Resorts is a multinational hospitality company, founded in 1971 by tycoon Robert Kuok and bearing the name of a Far Eastern mythical land of contentment depicted in the 1933 novel Lost Horizon. It is a subsidiary of Kerry Properties, the company has over 100 luxury hotels and resorts with over 40,000 rooms in Africa, Asia, Europe, the Middle East, North America and Oceania.

<span class="mw-page-title-main">People's Liberation Army Special Operations Forces</span> Special Operations Forces of China

In the People's Republic of China, the special operations forces of the People's Liberation Army are units that conduct direct action and reconnaissance, including in enemy rear areas, to prepare the advance of friendly forces; they also perform counter-terrorism operations, although that mission is formally assigned to People's Armed Police. PLA SOF does not control, but may support, psychological warfare operations.

Mercure is a French midscale hotel chain owned by Accor. Created in 1973 in France, the brand was acquired by Accor in 1975, and subsequently became a major part of the company's midscale hotel portfolio, alongside Novotel. As of 2021, Mercure operated 949 hotels in 63 countries. Outside Europe, Accor additionally uses the Grand Mercure brand, an upscale subsidiary in currently 12 countries.

<span class="mw-page-title-main">Yili Group</span> Chinese dairy products company

Yili Group is a Chinese dairy products producer headquartered in Hohhot, Inner Mongolia. It is one of China's leading dairy companies alongside Mengniu, and is listed as an A share company on the Shanghai Stock Exchange (SSE). It is engaged in processing and manufacturing of milk products, including ice cream, milk tea powder, sterilized milk and fresh milk under "Yili" brand, powdered milk under "Pro-Kido" brand, and organic milk under "Satine" brand. In 2018, it was the world's third best-performing food brands. In 2021, Yili ranked 1st on FBIF's Top 100 Chinese Food & Beverage Companies list. It is partly state-owned by the government of Hohhot.

Jin Jiang International (Holdings) Co., Ltd. is a tourism and hospitality company headquartered in Shanghai, China, and owned by the Shanghai Municipal People's Government.

H World International, formerly branded Deutsche Hospitality and Steigenberger Hotel Group, is the umbrella brand of the German hotel chain company Steigenberger Hotels AG. Since 2020, it is a subsidiary of the Chinese Huazhu Hotels Group and operates hotels under several brands, including Steigenberger, IntercityHotel and Zleep Hotels.

<span class="mw-page-title-main">Lui Che-woo</span> Hong Kong business magnate, investor, and philanthropist

Dr Lui Che Woo, GBM, GBS, MBE, JP is an extraordinary entrepreneur and philanthropist from Hong Kong. Lui is a pioneer who founded K. Wah Company in 1955, which later became a multinational conglomerate, K. Wah Group. Currently, K. Wah Group has two listed flagships, K. Wah International Holdings Limited(00173)and Galaxy Entertainment Group Limited(00027), as well as major companies such as K. Wah Construction Materials Limited and Stanford Hotels International, and over 200 subsidiaries around the world. K. Wah Group is engaged in various businesses including properties, entertainment and leisure, hospitality and construction materials across Mainland China, Hong Kong, Macau, Southeast Asia and major cities in the world.

Wanhua Chemical Group Co., Ltd. known as Wanhua Chemical and formerly Yantai Wanhua Polyurethane or Yantai Wanhua Polyurethanes or Yantai Wanhua, is a Chinese listed company in chemical industry.

<span class="mw-page-title-main">Vienna Hotels</span> Hotel chain based in Shenzhen, China

Vienna Hotel Group Limited, operating as Vienna Hotels is a hotel chain in China, headquartered in Shenzhen North Railway Station, Bao'an District, Shenzhen.

BTG Homeinns is a hotel chain in China. It is a part of BTH Hotels and its headquarters are in the Xuhui District, Shanghai.

<span class="mw-page-title-main">Banyan Group</span> Singaporean multinational hospitality brand

Banyan Group Limited is a Singaporean multinational hospitality brand that was established in 1994.It manages and develops resorts, hotels and spas in Asia, America, Africa and the Middle East. The group comprises 12 global brands, including the flagship brand Banyan Tree. Currently, the Group operates more than 70 hotels and resorts, over 60 spas and galleries, and 14 branded residences in over 20 countries.

Magnolia Award for Best Actress is awarded under the Shanghai Television Festival.

Raffles Hotels & Resorts is a Singaporean chain of luxury hotels which traces its roots to 1887 with the opening of the original Raffles Hotel in Singapore. The company started to develop internationally in the late 1990s. Since 2015, Raffles is part of Accor.

Seres Group (赛力斯集团股份有限公司) is a Chinese automotive manufacturer founded in September 1986 with headquarters in Chongqing, China. Born as a manufacturer of components for household appliances and shock absorbers, it currently produces cars, motorcycles and commercial vehicles as well as shock absorbers and internal combustion engines. In 2022, the company renamed to Seres Group from Sokon Group. It operates through its subsidiaries Seres, DFSK Motor, XGJAO Motorcycle and Yu'an Shock Absorber Company.

Jo&Joe is a French hotel chain owned by Accor. It currently manages six hotels in Europe and South America.

Xinjia Express Hotel was a hotel in Licheng District, Quanzhou, Fujian, China. On 7 March 2020, while being used to quarantine COVID-19 patients, it collapsed from overloading resulting from illegal construction, killing 29 people and injuring another 42.

References

  1. "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.
  2. 1 2 3 "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.
  3. "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"
  4. "The H World algorithm: How a Chinese brand keeps changing the hotel business - Caixin Global". www.caixinglobal.com. Retrieved 2023-11-01.
  5. "京华网-做有态度的京华新闻网". www.jinghva.com. Retrieved 2022-02-06.
  6. "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.
  7. "Groundbreaking alliance between Accor and Huazhu (China Lodging) creates a hotel giant in China". Strategic Partnering. 2015-01-30. Retrieved 2022-02-09.
  8. "AccorHotels and Huazhu finalize their strategic alliance"
  9. "China Lodging Group (HTHT) Names New CEO" . Retrieved 13 July 2015.
  10. "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.
  11. 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.
  12. "Huazhu Group Limited Announces Acquisition of Blossom Hill Hotels & Resorts". H World Group Limited.
  13. "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.
  14. "Nasdaq-listed Huazhu Group acquires Deutsche Hospitality". Business Traveller. Retrieved 2023-01-03.
  15. Behuria, Preeti (2019-11-05). "China's Huazhu Group agrees to acquire Deutsche Hospitality for $780m". Hotel Management Network. Retrieved 2023-10-05.
  16. "Huazhu Group Plans Secondary Listing in Hong Kong". Hospitality ON. Retrieved 2023-10-05.
  17. "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.
  18. 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.
  19. "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.
  20. "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.
  21. "H World Group Limited | LinkedIn". cn.linkedin.com. 2008-08-01. Retrieved 2024-01-10.
  22. Net, Hospitality. "Accor to sell a 1.5% stake in Huazhu for €239m". Hospitality Net. Retrieved 2022-01-24.
  23. Fox, Jena Tesse (2019-11-04). "China's Huazhu drops €700M for Germany's Deutsche Hospitality". Hotel Management. Retrieved 2022-01-24.
  24. "Annual Reports | Huazhu Group Limited". ir.huazhu.com. Retrieved 2022-02-11.

Further reading

Commons-logo.svg Media related to Huazhu Hotels Group at Wikimedia Commons