Core Insights - Huazhu Group Limited reported a total transaction value of hotel room and non-room revenue of 30.6 billion RMB, a year-on-year increase of 17.5% [1] - Total revenue increased by 8.1% to 7 billion RMB, with net profit attributable to shareholders reaching 1.5 billion RMB, up 15.4% compared to the same period in 2024 [1] - Adjusted net profit was approximately 1.52 billion RMB, a year-on-year growth of 10.8%, while adjusted EBITDA reached 2.5 billion RMB, increasing by 18.9% [1] Financial Performance - Huazhu's China business revenue was 5.7 billion RMB, reflecting a year-on-year growth of 10.8%, while international revenue was 1.2 billion RMB, showing a decline of 3.0% [1] - The management and franchise revenue segment saw significant growth, increasing by 27.2% to 3.3 billion RMB [1] Operational Metrics - As of September 30, 2025, Huazhu operated 12,702 hotels globally, with a total of approximately 1.246 million rooms [1] - In China, the number of operating hotels was 12,580, with around 1.22 million rooms, and there are 2,727 hotels under development [1] - In the third quarter, Huazhu opened 749 new hotels, marking a quarterly record for the year, with a total of over 2,000 new openings year-to-date and an expectation of 2,300 new hotels by year-end [1] Operational Efficiency - The average daily rate for Huazhu's China business in the third quarter was 304 RMB, showing slight increases year-on-year and quarter-on-quarter [2] - The occupancy rate was 84.1%, slightly lower than the 84.9% recorded in the same period of 2024 [2] - The blended average revenue per available room remained stable at 256 RMB [2]

11月19日，海南高速跌5.15%，截至发稿，报7.55元/股，成交2.07亿元，换手率2.75%，总市值74.66亿 元。 资料显示，海南高速公路股份有限公司位于海南省海口市美兰区国兴大道5号海南大厦42层，成立日期 1993年8月17日，上市日期1998年1月23日，公司主营业务涉及涵盖房地产开发、交通基础设施投资建 设、酒店业务和广告业务等领域。主营业务收入构成为：交通业54.57%，服务业21.11%，文旅业 19.97%，房地产业4.35%。 从海南高速十大流通股东角度 数据显示，南方基金旗下1只基金位居海南高速十大流通股东。南方中证房地产ETF发起联接A （004642）三季度减持6.98万股，持有股数1001.08万股，占流通股的比例为1.02%。根据测算，今日浮 亏损失约410.44万元。 南方中证房地产ETF发起联接A（004642）成立日期2017年8月24日，最新规模2.02亿。今年以来收益 9.74%，同类排名3593/4208；近一年收益0.2%，同类排名3852/3956；成立以来亏损38.84%。 南方中证房地产ETF发起联接A（004642）基金经理为罗文杰。 截至发稿，罗文杰 ...

资料显示，华天酒店集团股份有限公司位于湖南省长沙市芙蓉区解放东路300号华天大酒店贵宾楼五 楼，成立日期1996年8月3日，上市日期1996年8月8日，公司主营业务涉及酒店服务及旅游地产等业务。 主营业务收入构成为：餐饮34.69%，客房32.85%，其他30.87%，娱乐1.59%。 华天酒店今年以来股价涨7.81%，近5个交易日涨0.00%，近20日涨4.86%，近60日跌0.29%。 今年以来华天酒店已经3次登上龙虎榜，最近一次登上龙虎榜为9月23日，当日龙虎榜净买入32.19万 元；买入总计3978.70万元 ，占总成交额比11.27%；卖出总计3946.51万元 ，占总成交额比11.18%。 11月19日，华天酒店盘中下跌2.27%，截至10:09，报3.45元/股，成交1704.48万元，换手率0.48%，总市 值35.15亿元。 资金流向方面，主力资金净流入55.09万元，大单买入77.27万元，占比4.53%，卖出22.17万元，占比 1.30%。 华天酒店所属申万行业为：社会服务-酒店餐饮-酒店。所属概念板块包括：在线旅游、旅游酒店、低 价、小盘、预制菜等。 截至9月30日，华天酒店股东户数 ...

其中加盟业务受益于公司供应链整合能力的增强，加盟商签约强劲，同比增长 27.2%，环比二季度再次提速，占集团营收的比例同比提升 7.1pct 达到 47.5%。直营业务同比下滑 5.5%，核心问题在于老旧酒店（尤其是高线市场）竞争力不足。 4、轻资产转型带动盈利能力持续提升。由于公司轻资产战略的持续推进，抵消了客单价下滑对毛利端的拖累，整体毛利率保持平稳。（加盟模式节省租 金、人力等刚性成本，毛利率更高）。 费用端，为了支撑新店的推广和会员体系的运营，三季度华住加大了营销费用的投放，但伴随公司数字化带来的经营效率的提升，管理费用率大幅下降， 最终，华住调整后 EBITDA 达到 25.1 亿元，同比增长 18%，超出市场一致预期（23.4 亿元）。 5、四季度指引增长 2%-6%。公司指引四季度总收入同比增长 2%-6%，如果剔除 DH 业务，核心业务增速同比增长 3%-7%，结合公司电话会信息，考虑 到三季度 RevPAR 全面企稳，公司管理层对四季度呈谨慎乐观态度。 北京时间 2025 年 11 月 17 日美股盘前，华住发布了 2025 年 3 季度财报，伴随休闲旅游需求的旺盛以及公司的轻资产转型战略的 ...

格隆汇11月19日｜美股三大指数集体收跌，道琼斯指数跌1.07%，标普500指数跌0.83%，纳斯达克综合 指数跌1.21%。大型科技股多数下挫，亚马逊、AMD跌超4%，微软、英伟达跌超2%，特斯拉跌超1%。 纳斯达克金龙中国指数收涨0.42%，热门中概股中，大全新能源初步收跌6.7%，阿特斯太阳能跌6.7%， 晶科能源跌6.1%，亚朵跌2.9%，再鼎医药跌2.2%，蔚来跌1.5%，百胜中国、新东方涨超2.6%。 ...

Investment Rating - The report assigns an "Accumulate" rating for the industry [4] Core Insights - The report highlights significant improvements in hotel and duty-free data, with a recommendation for stocks such as Shoulv Hotel, Jinjiang Hotel, China Duty Free, and Huazhu [5] - The report emphasizes the shift in major platforms during the Double Eleven shopping festival, focusing on instant retail and AI to enhance consumer experience [2] - The overall e-commerce sales during Double Eleven reached approximately 1,695 billion yuan, marking a year-on-year increase of 14.2% [5] Summary by Relevant Sections Hotel and Duty-Free Sector - The hotel and duty-free sectors have shown substantial improvement, with recommended stocks including Shoulv Hotel, Jinjiang Hotel, China Duty Free, and Huazhu [5] - The report notes that Jinjiang Hotel's stock rose by 13.13% and China Duty Free by 11.76% in the last week [5] Retail Sector - The report indicates that the retail sector is experiencing a transformation, with platforms like Meituan and Taobao enhancing their offerings [5] - Meituan's flash purchase platform reported record high transaction volumes and user spending, with nearly 400 product categories seeing over 100% year-on-year growth [5] E-commerce Performance - The total e-commerce sales during the Double Eleven period reached approximately 1,695 billion yuan, reflecting a 14.2% increase compared to the previous year [5] - The report highlights that comprehensive e-commerce sales totaled 1,619 billion yuan, up 12.3% year-on-year [5] Stock Recommendations - The report recommends stocks with low valuations and high dividends, including Action Education, Sumida, and Chongqing Department Store [5] - It also suggests stocks benefiting from AI advancements, such as Kangnait Optical and Tianli International Holdings [5]

证券日报网讯岭南控股（000524）11月18日在互动平台回答投资者提问时表示，公司旗下各酒店逢年节 均会推出各式节令食品、贺年糕点、盆菜及礼盒。 ...

证券日报网讯华天酒店（000428）11月18日在互动平台回答投资者提问时表示，公司目前提供部分节日 预制菜产品，占公司收入利润比例较低。 ...

由于投资者担心中日关系恶化长期化，三越伊势丹百货、高岛屋、大丸松坂屋百货母公司、日本航空、 全日空、帝国饭店等与旅游相关股票大多继续下跌。对中国游客消费依赖度较高的资生堂继昨天收盘下 跌9%后今天收盘再跌2.89%。 至收盘时，日经指数下跌1620.93点，收于48702.98点；东证指数下跌96.43点，收于3251.10点。 从板块来看，东京证券交易所33个行业板块全部下跌，有色金属、电气产品、机械等板块领跌。 记者：刘春燕 日本东京股市两大股指18日连续第3个交易日下跌。日经225种股票平均价格指数收盘下跌3.22%，东京 证券交易所股票价格指数下跌2.88%。 受隔夜纽约股市三大股指全面下跌及投资者对中日关系恶化的担忧上升等因素影响，东京股市两大股指 18日早盘跳空低开。日经225种股票平均价格指数盘中一度下跌3.3%。当天，软银集团、爱德万测试、 东京电子等三大科技股明显下跌。 责任编辑：刘万里 SF014 ...

Core Insights - The first Xuanli Hotel in Beijing has officially opened in the Changping District, under the brand of the Hopson Development Holdings Group, focusing on "traditional culture + urban tourism" as its core concept [1][3] - The hotel aims to attract Generation Z consumers by integrating cultural experiences with business and leisure activities, creating a "shareable travel experience" through scene design, IP development, and social media interaction [1][3] Group 1 - The hotel features seven thematic scenes based on the concept of "harmony between heaven, earth, and humanity," including multifunctional spaces such as the lobby, guest rooms, restaurants, and tea rooms [1] - Guest rooms are inspired by the "urban oasis" design, equipped with large floor-to-ceiling windows for city views and a "24-hour light and shadow check-in" experience [3] - The hotel plans to continuously enhance cultural experiences by introducing craft workshops and themed events, providing a more diverse experience for consumers [3]