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Huazhu Group Limited Reports Fourth Quarter and Full Year 2019 Financial Results

Written by Customer Service on . Posted in Public Companies.

A total of 5,618 hotels or 536,876 hotel rooms in operation as of December 31, 2019.Hotel turnover1increased 21% year-over-year to RMB9 billion for the fourth quarter, and increased 19% to RMB35 billion for the full year of 2019.Net revenues increased 8.5% year-over-year to RMB2.9 billion (US$418 million)2for the fourth quarter, and increased 11.4% to RMB11.2 billion (US$1.6 billion) for the full year of 2019, in line with revenue guidance previously announced of 10% to 12%.EBITDA (non-GAAP) for the fourth quarter of 2019 was RMB1.1 billion (US$152 million), compared with negative RMB46 million for the fourth quarter of 2018. EBITDA (non-GAAP) increased 56.5% to RMB3.6 billion (US$510 million) for the full year of 2019.Excluding share-based compensation expenses and unrealized gains (losses) from fair value changes of equity securities, adjusted EBITDA (non-GAAP) for the fourth quarter increased 15.9% year-over-year to RMB854 million (US$122 million) and increased 2.4% to RMB3.3 billion (US$481 million) for the full year of 2019.Net income attributable to Huazhu Group Limited was RMB619 million (US$89 million) for the fourth quarter of 2019, compared with net loss attributable to Huazhu Group Limited of RMB419 million in the fourth quarter of 2018 and net income attributable to Huazhu Group Limited of RMB431 million in the previous quarter. Net income attributable to Huazhu Group Limited increased 147.1% to RMB1.8 billion (US$254 million) for the full year of 2019.Excluding share-based compensation expenses and unrealized gains (losses) from fair value changes of equity securities, adjusted net income (non-GAAP) for the fourth quarter of 2019 was RMB411 million (US$59 million), compared with RMB364 million for the fourth quarter of 2018, and adjusted net income (non-GAAP) for the full year of 2019 was RMB1.6 billion (US$225 million), compared with RMB1.7 billion for the full year of 2018.Huazhu completed the acquisition of Deutsche Hospitality on January 2, 2020.SHANGHAI, China, March 26, 2020 (GLOBE NEWSWIRE) — Huazhu Group Limited (NASDAQ: HTHT) (“Huazhu” or the “Company”), a leading and fast-growing hotel group, today announced its unaudited financial results for the fourth quarter and full year ended December 31, 2019.Fourth Quarter of 2019 Operational Highlights

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