SSAW Hotels(301073)2025-05-09 01:10Financial Performance - In 2024, the company achieved operating revenue of 675.85 million yuan, a year-on-year increase of 26.57% [1] - The net profit attributable to shareholders decreased by 17.43% to 25.20 million yuan [1] - The net profit after deducting non-recurring gains and losses fell by 21.35% [1] - As of December 31, 2024, the net assets attributable to shareholders were 973.97 million yuan, a decrease of 0.41% [1] - In Q1 2025, operating revenue was 16.21 million yuan, a growth of 1.29% year-on-year [1] - The net profit attributable to shareholders in Q1 2025 was 2.86 million yuan, down 38.70% [1] Operational Metrics - The average occupancy rate for direct-operated hotels in 2024 was 63.68%, with an average room price of 483.49 yuan, resulting in a RevPAR of 307.89 yuan [1] - In Q1 2025, the average occupancy rate was 56.51%, with an average room price of 471.81 yuan, leading to a RevPAR of 266.62 yuan [1] - During the "May Day" holiday in 2025, the average RevPAR exceeded 550 yuan, with significant performance from the "Pagoda" and "Night Boat" brands, which saw a 10% year-on-year increase [3] Market Strategy and Adjustments - The company is actively adjusting marketing strategies and channel layouts in response to market changes, particularly in the face of reduced business travel and traditional customer channels [5] - The company has expanded its overseas market presence, benefiting from government policies, which has stabilized hotel pricing [6] - The membership base surpassed 18 million in 2024, with a steady increase in the proportion of revenue from membership channels [6] Investment and Expansion Plans - A new investment project in Chengdu is in the planning stage, expected to open in Q4 2025, featuring over 300 rooms [8] - The company has launched a franchise business model, signing eight new franchise projects in key cities like Guangzhou and Chengdu [12] - The company aims to enhance its investment efficiency and project development channels through partnerships with professional institutions [8] Challenges and Opportunities - The hotel industry is facing challenges due to changes in customer structure and booking channels, necessitating a shift in operational strategies [5] - The company is focusing on the growing demand in lower-tier markets and the silver economy, developing products tailored to family and elderly travelers [10] - The company is leveraging its experience in property renovation to capitalize on the current market dynamics, particularly in high-end vacation hotels [15]