Huazhu Hotels Group Net Profit In China Up 84.3% In 2016

China's Huazhu Hotels Group Ltd recently published its unaudited financial report for the fourth quarter and the entire year of 2016.

Huazhu's net operating revenue reached CNY1.67 billion in the fourth quarter of 2016, a year-on-year increase of 10.9%; and its net operating revenue for the entire year of 2016 was CNY6.539 billion, a year-on-year increase of 13.2%.

At the same time, its net profit reached CNY125.9 million in the fourth quarter of 2016, a year-on-year increase of 77.9%; and its net profit for the entire year was CNY804.6 million, a year-on-year increase of 84.3%.

During the fourth quarter of 2016, Huazhu's medium- and high-end hotel ratio continued to increase. The group's revenue per available room was CNY158, a year-on-year increase of 6%; its average daily rate was CNY186, a year-on-year increase of 5.2%; and its average occupancy rate was 84.7%, a year-on-year increase of 0.4%.

For the entire year of 2016, Huazhu's revenue per available room was CNY157, a year-on-year increase of 2.7%; its average daily rate was CNY185, a year-on-year increase of 3.3%; and its average occupancy rate was about 84.9%, which maintained at the same level as the previous year.

By December 31, 2016, Huazhu had 3,269 hotels with 331,347 rooms in 367 cities across China, including 624 owned hotels. During the fourth quarter of 2016, the group saw a net increase of 148 hotels; and in 2016, it saw a net increase of 506 hotels. By the end of December 2016, Huazhu still had 442 hotels undergoing preparation.