GHG News & Events

2024 hotel revenue guidance is based on operating performance so far this year, in particular lower than expected travel in Q3, and the strategic review of its LO hotels segment that led to the net closure of 9 hotels by the end of Q3 and contributed nearly half of the decline.

Reports Q3 revenue RMB356.98M vs. RMB460.88M last year. Average daily room rate was RMB181, a decrease of 6.0% from RMB192 in 3Q23. RevPAR, was RMB135, a 13.6% year-over-year decrease.