GreenTree Hospitality Group Ltd. (NYSE:GHG) Q4 2023 Results Conference Call March 25, 2024 9:00 PM ET Company Participants Rene Vanguestaine - IR, Christensen Alex Xu - Chairman and CEO Selina Yang - CFO Megan Huang - VP, Sales and Marketing Conference Call Participants Dan Xu - Morgan Stanley Simon Cheung - Goldman Sachs Operator Hello, ladies and gentlemen. Thank you for standing by for GreenTree's Fourth Quarter and Fiscal Year of 2023 Earnings Conference Call. [Operator Instructions] Please note this ev ...

SHANGHAI, March 18, 2024 /PRNewswire/ -- GreenTree Hospitality Group Ltd. (NYSE: GHG) ("GreenTree" or the "Company"), a leading hospitality management group in China, today announced that it will report its unaudited financial results for the fourth quarter and fiscal year ended December 31, 2023, after U.S. markets close on Monday March 25, 2024. GreenTree's management will hold an earnings conference call at 9:00 PM U.S. Eastern Time on March 25, 2024 (9:00 AM Beijing/Hong Kong Time on March 26, 2024). Di ...

Exhibit 99.1 GreenTree Hospitality Group Ltd. Reports Third Quarter 2023 Financial Results SHANGHAI, November 22, 2023 /PRNewswire/ -- GreenTree Hospitality Group Ltd. (NYSE: GHG) ("GreenTree", the "Company", "we", "us" and "our"), a leading hospitality and restaurant management group in China, today announced its unaudited financial results for the third quarter of 2023. As Da Niang Dumplings and Bellagio, two leading restaurant chain businesses in China, were all under the control of our founder, Alex S. ...

Financial Data and Key Metrics Changes - Total revenues for Q3 2023 were RMB 460.9 million, an increase of 15.3% year-over-year, driven by the recovery in RevPAR and an increase in the number of hotels [8][14] - RevPAR increased by 30.5% year-over-year to RMB 156, reaching 110% of the levels seen in Q3 2019 during July and August [7][8] - Adjusted EBITDA rose significantly by 215% to RMB 173.4 million, with a margin of 37.6% [8][19] - Net income was RMB 117.4 million, reflecting a margin of 25.5% [8] Business Line Data and Key Metrics Changes - Hotel revenues increased by 40.4% year-over-year to RMB 339.1 million, with total revenues from F&M hotels up 20.8% and L&O hotels up 83.1% [14][15] - Average Daily Sales (ADS) for restaurants increased by 7.4% to RMB 6,548, despite the closure of 85 restaurants over the past year [8][20] - The number of individual memberships in the hotel segment grew to 88 million, up from 77 million a year ago [13] Market Data and Key Metrics Changes - The occupancy rate for L&O hotels increased to 79%, while F&M hotels saw an occupancy rate of 81.3% [13] - The company observed a slight decline in RevPAR in early November, attributed to seasonal factors and a potential slowdown in business travel [22][26] Company Strategy and Development Direction - The company is focused on expanding its mid- to upscale hotel segment, with 455 hotels in this category, representing 10.9% of the total portfolio [10] - There is a strategic emphasis on increasing the number of hotels in Tier 3 and lower cities, with 73.7% of hotels in the current pipeline located in these areas [12] - The company aims to improve profitability in its restaurant business by closing unprofitable stores and increasing the proportion of franchise operations [10][11] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the continued recovery of the hotel business, although they noted a slight slowdown in RevPAR post-holidays [26][34] - For 2024, management anticipates ongoing economic recovery but acknowledges uncertainty regarding leisure travel demand [27][34] - The company plans to open 450 to 470 hotels in 2024, representing a 12% to 15% increase from the current year [32] Other Important Information - The company repurchased 554,158 ADS in October 2023 as part of a share repurchase program, indicating confidence in the company's valuation [20][52] - As of September 30, 2023, total cash and cash equivalents were RMB 1,331.4 million, down from RMB 1,440.1 million due to loan repayments and investments [19] Q&A Session Summary Question: RevPAR outlook and November performance - Management noted that RevPAR declined slightly in early November, with a 5% decrease compared to 2019 levels, attributing it to seasonal factors [22][25][26] Question: Hotel opening plans for 2024 - The company plans to sign 650 to 680 hotels and open 450 to 470 hotels in 2024, indicating a strong growth trajectory [32][33] Question: Sustainability of leisure travel demand - Management expressed cautious optimism about leisure travel demand, expecting it to remain stable but not as strong as the previous summer [34] Question: Share repurchase rationale - The share repurchase was seen as a strategic move to enhance shareholder value, with management emphasizing the undervaluation of shares [28][52] Question: Cost savings and margin outlook - Management highlighted significant cost savings across both hotel and restaurant segments, with expectations for continued margin improvement [38][40]

Exhibit 99.1 GreenTree Hospitality Group Ltd. Reports First Half 2023 Financial Results · Total revenues increased by 12.1% year over year to RMB794.2 million (US$109.5 million). · Income from operations was RMB150.9 million (US$20.8 million), compared to RMB-474.3 million for the first half of 2022. · Net income was RMB177.3 million (US$24.5 million), compared to RMB-384.5 million for the first half of 2022. · Adjusted EBITDA (non-GAAP) increased by 137.8% year over year to RMB226.9 million (US$31.3 millio ...

GreenTree Hospitality Group Ltd (NYSE:GHG) Q2 2023 Earnings Conference Call September 18, 2023 9:00 PM ET Company Participants Rene Vanguestaine - Christensen & Associates Alex Xu - Founder, Chairman & CEO Megan Huang - VP, Sales and Marketing Selina Yang - CFO Conference Call Participants Operator Hello, ladies and gentlemen, thank you for standing by for GreenTree's First Half 2023 Earnings Conference Call. At this time all participants are in listen-only mode. [Operator Instructions]. As a reminder, toda ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 20-F ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR 12(g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022. OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☐ SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ...

Exhibit 99.1 GreenTree Hospitality Group Ltd. Reports Second Half and Fiscal Year 2022 Financial Results · Total revenues decreased by 21.1% year over year to RMB487.8 million (US$70.7 million) for the second half 2022. Organic revenues, excluding revenues of Argyle and Urban, decreased by 15.8% year over year to RMB466.0 million (US$67.6 million) for the second half 2022. · Income from operations increased by 516.4% year over year to RMB20.0 million (US$2.9 million) for the second half 2022. · Adjusted EBI ...

GreenTree Hospitality Group Ltd (NYSE:GHG) Q4 2022 Earnings Conference Call April 6, 2023 9:00 PM ET Company Participants Rene Vanguestaine - Christensen & Associates Alex Xu - Founder, Chairman & CEO Megan Huang - VP, Sales and Marketing Selina Yang - CFO Conference Call Participants Jane Wang - UBS Dan Xu - Morgan Stanley Peter Yang - Goldman Sachs Group Operator Hello, ladies and gentlemen. Thank you for standing by for GreenTree's Second Half and Fiscal Year 2022 Earnings Conference Call. [Operator Inst ...

Financial Data and Key Metrics Changes - Total revenues increased by 16.3% year-over-year to RMB310.4 million [18] - Income from operations decreased by 45.6% to RMB54.9 million, with a margin of 17.7% [20] - Net income decreased by 61.5% to RMB33 million, with a margin of 10.6% [20] - Non-GAAP adjusted EBITDA decreased by 33.5% to RMB73.7 million, with a margin of 23.7% [20] - Earnings per share decreased by 59.3% to RMB0.33 [21] Business Line Data and Key Metrics Changes - The company opened 182 new hotels in Q3 2021, less than planned due to COVID-19 impacts [14] - At the end of Q3 2021, the company had 4,626 hotels in operation, a 10.3% increase year-over-year [15] - The mid-scale segment accounted for 62.9% of all hotels, while mid to upscale and luxury hotels accounted for 11.2% of the total portfolio [15] Market Data and Key Metrics Changes - RevPAR decreased by 1.4% to RMB118 compared to Q3 2020 [8] - Occupancy rates recovered to 84.3% of their 2019 level, outperforming the industry average [9] - RevPAR for leased and operating (LO) hotels increased to RMB146, while RevPAR for franchisee-managed (FM) hotels decreased to RMB117 [17] Company Strategy and Development Direction - The company is expanding its hotel network in the mid to upscale segment and into Tier 3 and lower cities [11] - 68.7% of new hotels in the current pipeline are located in Tier 3 and lower cities [12] - The company aims to optimize its management and operating systems to improve hotel quality and performance [12] Management Comments on Operating Environment and Future Outlook - Management expressed confidence in navigating the current pandemic wave due to their resilient business model and experienced team [12] - The company expects total revenues for the full year of 2021 to grow by 25% to 30% over 2020 levels and by 7% to 12% over 2019 levels [22] Other Important Information - Total hotel operating costs increased by 48.3% year-over-year to RMB258.8 million, primarily due to the opening of new LO hotels [18] - The company closed 98 hotels in Q3 2021, with 59 closures due to noncompliance with brand standards [16] Q&A Session Summary Question: Hotel pipeline and opening expectations - Management expects to open about 700 to 800 hotels next year, despite a slower pace of openings due to COVID-19 impacts and higher requirements for hotel openings [24][25] Question: Future hotel closures - Management indicated that the closure rate will likely not exceed the levels experienced in 2021, as they aim to stabilize RevPAR [27][30] Question: Expansion of LO hotels - Management does not plan to significantly increase the number of LO hotels unless opportunities arise in areas with weak presence [31][32] Question: Margin trends and loss-making hotels - Newly opened hotels contributed a loss of RMB32 million, impacting margins; excluding these, EBITDA margin would increase to 38.5% [36]