Huazhu Group Ltd (NASDAQ:HTHT) reported 11.6% year-over-year increase in revenue

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Huazhu Group Ltd (NASDAQ:HTHT) stock fell 5.55% (As on Nov 25, 5:43:48 AM UTC-4, Source: Google Finance) though the company in the third quarter of FY 21 has reported 11.6% year-over-year increase in revenue to RMB3.5 billion (US$547 million), in line with revenue guidance previously announced of 8% to 12% compared to the third quarter of 2020. Revenue from Legacy-Huazhu for the third quarter of 2021 increased 7.4% year-over-year, in line with revenue guidance previously announced of 4% to 8%. Adjusted net loss attributable to Huazhu Group Limited (non-GAAP), for the third quarter of 2021 was RMB46 million (US$8 million), compared with RMB218 million for the third quarter of 2020. Adjusted net income attributable to Huazhu Group Limited from Legacy-Huazhu (non-GAAP) for the third quarter of 2021 was RMB117 million. Adjusted EBITDA (non-GAAP), was RMB385 million (US$59 million) for the third quarter of 2021, compared with RMB184 million for the third quarter of 2020. Adjusted EBITDA from Legacy-Huazhu (non-GAAP) was RMB500 million for the third quarter of 2021.

Moreover, Hotel turnover increased 15.4% year-over-year to RMB12.2 billion for the third quarter of 2021. Excluding Steigenberger Hotels AG and its subsidiaries (DH, or Legacy-DH), hotel turnover increased 14.0% year-over-year for the third quarter of 2021. During the third quarter of 2021, our Legacy-Huazhu business opened 481 hotels, including 2 leased (or leased-and-operated) hotels and 479 manachised (or franchised-and-managed) hotels and franchised hotels, and closed a total of 140 hotels, including 14 leased hotels and 126 manachised and franchised hotels.

In the fourth quarter of 2021, Huazhu expects revenue growth to be in the range of 6%-10% compared to the fourth quarter of 2020, or revenue reduction to be in the range of 4% to 8% if excluding DH. Excluding the impact of COVID-19, Huazhu expects revenue growth to be in the range of 12%-16% compared to pre-COVID-19 results in the fourth quarter of 2019, or revenue reduction to be in the range of 7% to 11% if excluding DH.

For the full year of 2021, the company expects revenue growth to range from 22% to 26%, or to range from 26% to 30% excluding DH. Excluding the impact of COVID-19, Huazhu expects revenue growth to be in the range of 11%-15% compared to pre-COVID-19 results of 2019, or revenue reduction to be in the range from 0% to 4% excluding DH.

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