By Blox Content Management,By GreenTree Hospitality Group Ltd
Copyright berkshireeagle
Total revenues decreased by 14.2 % year over year to RMB 585.1 million (US$ 81 . 7 million) [1] .Income from operations was RMB 91.5 million (US$ 12.8 million) [1] compared to RMB 156 .7 million for the first half of 202 4 .Net income was RMB 198.8 million (US$ 27.7 million) [1] compared to RMB 119.6 million for the first half of 202 4 .Adjusted EBITDA (non-GAAP) [ 2 ] de creased by 22.2 % year over year to RMB 149.7 million (US$ 20.9 million) [1]。Core net income (non-GAAP) [ 3 ] de creased by 29.6 % year over year to RMB 92.1 million (US$ 12.9 million) [1] .
SHANGHAI, Sept. 30, 2025 /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 first half of 2025.
First Half 2025 Operational Highlights
A total of 4,509 hotels with 321,977 hotel rooms were in operation as of June 30, 2025.The Company opened 138 hotels and had a pipeline of 1,245 hotels contracted for or under development as of June 30, 2025. The average daily room rate was RMB157 in the first quarter of 2025, a decrease of 6.9% from RMB169 in the first quarter of 2024, and RMB166 in the second quarter of 2025, a 3.9% year-over-year decrease.The occupancy rate was 64.0% in the first quarter of 2025, down from 67.8% in the first quarter of 2024, and 67.9% in the second quarter of 2025, compared to 72.5% in the second quarter of 2024.Revenue per available room, or RevPAR, was RMB100 in the first quarter of 2025, a 12.1% year-over-year decrease, and RMB113 in the second quarter of 2025, a 10.0% year-over-year decrease.
Restaurants
A total of 183 restaurants were in operation as of June 30, 2025The AC (average check) was RMB48 in the first quarter of 2025, a 21.5% year-over-year decrease, and RMB43 in the second quarter of 2025, a 23.8% year-over-year decrease.The ADT (average daily tickets) was 83 in the first quarter of 2025, down from 94 in the first quarter of 2024, and 85 in the second quarter of 2025, compared to 90 in the second quarter of 2024.The ADS (average daily sales per store) was RMB 4,029 in the first quarter of 2025, a decrease of 37.1% from RMB 5,525 in the first quarter of 2024, and RMB 3,629 in the second quarter of 2025, a 30.5% year-over-year decrease.
First Half 202 5 Financial Results
Total revenues for the first half of 2025 were RMB585.1 million (US$81.7 million)[1], a 14.2% year-over-year decrease.
Hotel revenues were RMB488.0 million (US$68.1 million), a 9.5% year-over-year decrease due to an 11% year-over-year decrease in blended RevPAR across the first half year and the closure of 9 L&O hotels since the third quarter of last year. The decrease was partially offset by revenues from new openings.
Restaurant revenues were RMB97.7 million (US$13.6 million), a 31.6% year-over-year decrease, mainly due to the decrease in the number of L&O stores and lower ADS in the second quarter low season.
Total revenues from leased-and-operated, or L&O, hotels and restaurants were RMB253.6 million (US$35.4 million)[1], a 20.3% year-over-year decrease.
Total revenues from L&O hotels were RMB 194.8 million (US$27.2 million)[1], a 14.7% year-over-year decrease. The decrease was primarily attributable to the closing of 9 L&O hotels since the third quarter of last year, a 3.4% year-over-year decrease in RevPAR, and a reduction in sublease revenues mainly due to lease expiration.
Total revenues from L&O restaurants were RMB59.1 million (US$8.2 million)[1], a 34.1% year-over-year decrease, mainly due to the closure of 13 L&O restaurants since the third quarter of 2024 and the year-over-year decrease in ADS.
Total revenues from franchised-and-managed, or F&M, hotels and restaurants were RMB294.9 million (US$41.2 million), a 5.7% year-over-year decrease.
Total revenues from F&M hotels were RMB291.8 million (US$40.7 million)[1], a 5.6% year-over-year decrease, primarily due to a 11% decrease in F&M hotels’ blended RevPAR across the first half year and partially offset by new openings.
Total revenues from F&M restaurants were RMB3.2 million (US$0.4 million)[1], a 15.7% year-over-year decrease, mainly due to the year-over-year decrease in ADS and partially offset by new openings.
Total revenues from wholesale and others were RMB36.5 million (US$ 5.1 million)[1], a 28.5% year-over-year decrease, mainly due to the decline in the wholesale segment of the restaurant business.
Total operating costs and expenses
Operating costs were RMB370.3 million (US$51.7 million)[1], a 10.2% year-over-year decrease.
Operating costs of the hotel business were RMB286.9 million (US$40.0 million)[1], a
