Huazhu Hotels Group Explained

H World Group Limited
Type:Public
Traded As:NASDAQ:
Industry:Hospitality Management
Predecessors:-->
Successors:-->
Founder:Ji Qi
Hq Location City:Minhang District, Shanghai
Hq Location Country:China
Areas Served:-->
Profit:-->
Profit Year:-->
Owners:-->
Subsid:H World International

Huazhu Hotels Group, 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]

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. 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, JI Hotel,[19] Orange Hotel,[20] Hi Inn Hotel, 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]

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

Further reading

External links

Notes and References

  1. Web site: 2021 worldwide ranking of hotel groups: global leaders slow down but keep expanding their portfolios . dead . https://web.archive.org/web/20210318190715/https://hospitality-on.com/en/hotel-development/2021-worldwide-ranking-hotel-groups-global-leaders-slow-down-keep-expanding-their . 18 March 2021 . 2022-01-22 . Hospitality ON . en.
  2. Web site: 2021-08-24 . 汉庭酒店16周年，回顾第一家汉庭酒店是如何创立的？ . https://archive.today/20221223064358/https://mbd.baidu.com/newspage/data/landingsuper?third=baijiahao&baijiahao_id=1708954698524978725&c_source=duedge&p_tk=7407lOIF2E7LVIXK1HcY61LJrkc6vgxpAA3GCkOzlIW5KogTah8ah4nwnSebA4wOs6ZKo0aAR441SG6FG4PhvnQ8yAUehfuUcmS8hFeVRD43ULGz6Umm/B8swqSla6lq/FatZhdziCd6MOp36QCft16BaA%3D%3D&p_timestamp=1671777782&p_sign=4ef339dd5feb26abfe8a1342eb0fd41e&p_signature=b558fdf133c5fba5c9f4e2e80d4438bd&__pc2ps_ab=7407lOIF2E7LVIXK1HcY61LJrkc6vgxpAA3GCkOzlIW5KogTah8ah4nwnSebA4wOs6ZKo0aAR441SG6FG4PhvnQ8yAUehfuUcmS8hFeVRD43ULGz6Umm/B8swqSla6lq/FatZhdziCd6MOp36QCft16BaA%3D%3D%7C1671777782%7Cb558fdf133c5fba5c9f4e2e80d4438bd%7C4ef339dd5feb26abfe8a1342eb0fd41e . 2022-12-23 . 2022-02-09 . Rizhao Daily.
  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. Web site: The H World algorithm: How a Chinese brand keeps changing the hotel business - Caixin Global . 2023-11-01 . www.caixinglobal.com . en.
  5. Web site: 京华网-做有态度的京华新闻网. 2022-02-06. www.jinghva.com.
  6. Web site: 汉庭创始人回归掀变革风暴 集团更名"华住"_科技_腾讯网. 2022-02-06. tech.qq.com.
  7. Web site: 2015-01-30. Groundbreaking alliance between Accor and Huazhu (China Lodging) creates a hotel giant in China. 2022-02-09. Strategic Partnering. en-US.
  8. https://www.hospitalitynet.org/news/4073930.html "AccorHotels and Huazhu finalize their strategic alliance"
  9. Web site: China Lodging Group (HTHT) Names New CEO. 13 July 2015.
  10. Web site: 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 . 2023-10-05 . www.jiemian.com.
  11. Web site: 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) . 2023-10-05 . www.traveldaily.cn . zh.
  12. Web site: Huazhu Group Limited Announces Acquisition of Blossom Hill Hotels & Resorts . H World Group Limited.
  13. Web site: 华住酒店集团海外首家酒店在新加坡开业_中国 . 2023-10-06 . www.sohu.com.
  14. Web site: Nasdaq-listed Huazhu Group acquires Deutsche Hospitality . 2023-01-03 . Business Traveller . en-GB.
  15. Web site: Behuria . Preeti . 2019-11-05 . China’s Huazhu Group agrees to acquire Deutsche Hospitality for $780m . 2023-10-05 . Hotel Management Network . en-US.
  16. Web site: Huazhu Group Plans Secondary Listing in Hong Kong . 2023-10-05 . Hospitality ON . en.
  17. Web site: 永乐华住获22家融创酒店管理授权-新华网 . 2023-10-06 . www.xinhuanet.com.
  18. Web site: 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 . 2023-10-06 . www.marketscreener.com . en.
  19. Web site: 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 . 2023-11-15 . www.zaobao.com.sg . zh-Hans.
  20. Web site: 2017-03-01 . 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 . 2023-11-15 . 36kr.com.
  21. Web site: 2008-08-01 . H World Group Limited LinkedIn . 2024-01-10 . cn.linkedin.com . en.
  22. Web site: Net. Hospitality. Accor to sell a 1.5% stake in Huazhu for €239m. 2022-01-24. Hospitality Net. en-us.
  23. Web site: Fox. Jena Tesse. 2019-11-04. China's Huazhu drops €700M for Germany's Deutsche Hospitality. 2022-01-24. Hotel Management. en.
  24. Web site: Annual Reports Huazhu Group Limited. 2022-02-11. ir.huazhu.com. en.

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