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China Lodging Group, Limited (HTHT) Announces Its Preliminary Results for Hotel Operations in the Fourth Quarter of 2014

SHANGHAI, China, Jan. 12, 2015 (GLOBE NEWSWIRE) -- China Lodging Group, Limited (Nasdaq:HTHT) ("China Lodging Group" or the "Company"), a leading and fast-growing multi-brand hotel group in China, today announced its preliminary results for the hotel operations in the fourth quarter ended December 31, 2014.

Hotel Development

Number of hotels in operation Number of rooms in operation
Opened Closed (1) Net added As of Net added (2) As of
in Q4 2014 in Q4 2014 in Q4 2014 December 31, 2014 in Q4 2014 December 31, 2014
Leased hotels 8 (1) 7 611 336 72,335
Manachised hotels 141 (2) 139 1,376 11,945 136,689
Franchised hotels(3) -- -- -- 8 -- 931
Total 149 (3) 146 1,995 12,281 209,955
(1) Three hotels were closed in the fourth quarter. Among those, a leased hotel was transformed to a manachised hotel; and two manachised contracts were terminated.
(2) A total of 1,260 hotel rooms were in renovation during the fourth quarter, which posed a short-term negative impact on hotel revenues.
(3) refers to franchised Starway hotels
Number of hotels in pipeline as
of December 31, 2014
Leased hotels 29
Manachised hotels 644
Total 673

Operating Metrics

For the quarter ended
December 31, September 30, December 31,
2013 2014 2014
Occupancy rate (as a percentage)
Leased hotels 89% 93% 87%
Manachised hotels 91% 92% 86%
Blended 90% 93% 87%
Average daily room rate (in RMB)
Leased hotels 187 198 190
Manachised hotels 171 180 169
Blended 178 187 176
RevPAR (in RMB)
Leased hotels 166 184 166
Manachised hotels 155 166 145
Blended 160 173 153

Like-for-like performance for leased and manachised hotels opened for at least 18 months during the current quarter

  As of and for the quarter ended  
  December 31, yoy
  2013 2014 change
Total 1,178 1,178  
Leased hotels 505 505  
Manachised hotels 673 673  
Occupancy rate (as a percentage) 93% 90% -3%
Average daily room rate (in RMB) 179 179 0%
RevPAR (in RMB) 165 161 -3%

Business Update by Segment

Hotel breakdown by segment    
   
  Number of hotels in operation
  Net added As of
  in Q4 2014 December 31, 2014
Economy hotels 132 1,819
HanTing Hotel 101 1,648
Leased hotels 6 502
Manachised hotels 95 1,146
Hi Inn 20 158
Leased hotels -- 41
Manachised hotels 20 117
Elan Hotel 11 13
Leased hotels -- --
Manachised hotels 11 13
Midscale and upscale hotels 14 176
JI Hotel 6 117
Leased hotels 1 62
Manachised hotels 5 55
Starway Hotel 8 55
Leased hotels -- 3
Manachised hotels 8 44
Franchised hotels -- 8
Joya Hotel -- 3
Leased hotels -- 2
Manachised hotels -- 1
Manxin Hotels & Resorts -- 1
Leased hotels -- 1
Total 146 1,995
Operational metrics for hotels in operation by segment
         
Q4 2013        
  Number of hotels in operation RevPAR ADR Occupancy
Economy hotels 1,309 156 171 91%
Leased hotels 514 159 176 90%
Manachised hotels 795 153 168 91%
Midscale and upscale hotels 91 212 269 79%
Leased hotels 51 231 285 81%
Manachised hotels 40 184 242 76%
Total 1,400 160 178 90%
         
Q4 2014        
  Number of hotels in operation RevPAR ADR Occupancy
Economy hotels 1,819 146 167 88%
Leased hotels 543 154 175 88%
Manachised hotels 1276 142 163 87%
Midscale and upscale hotels 168 203 263 77%
Leased hotels 68 231 287 80%
Manachised hotels 100 177 237 75%
Total 1,987 153 176 87%
* Excluding franchised Starway hotels
Same-hotel operational data by segment
  Number of hotels in operation Same-hotel RevPAR   Same-hotel ADR   Same-hotel Occupancy  
  As of For the quarter ended   For the quarter ended   For the quarter ended  
  December 31, December 31, yoy December 31, yoy December 31, yoy
  2013 2014 2013 2014 change 2013 2014 change 2013 2014 change
Economy hotels 1,117 1,117 161 155 -4% 173 173 0% 93% 90% -3%
Leased hotels 473 473 163 158 -3% 178 176 -1% 92% 90% -2%
Manachised hotels 644 644 159 153 -4% 170 170 0% 94% 90% -4%
Midscale hotels 61 61 241 251 4% 273 288 6% 88% 87% -1%
Leased hotels 32 32 270 278 3% 291 312 7% 93% 89% -4%
Manachised hotels 29 29 201 212 5% 245 251 2% 82% 85% 2%
Total 1,178 1,178 165 161 -3% 179 179 0% 93% 90% -3%

About China Lodging Group, Limited

China Lodging Group, Limited is a leading and fast-growing multi-brand hotel group in China. The Company provides business and leisure travelers with high-quality, and conveniently-located hotel products under seven brands, namely, Joya Hotel, Manxin Hotels & Resorts, JI Hotel, Starway Hotel, HanTing Hotel, Elan Hotel, and Hi Inn. For more information, please visit the Company's website: http://ir.huazhu.com .

Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995: The information in this release contains forward-looking statements which involve risks and uncertainties. Such factors and risks include our anticipated growth strategies; our future results of operations and financial condition; the economic conditions of China; the regulatory environment in China; our ability to attract customers and leverage our brand; trends and competition in the lodging industry; the expected growth of the lodging market in China; and other factors and risks detailed in our filings with the Securities and Exchange Commission. Any statements contained herein that are not statements of historical fact may be deemed to be forward-looking statements, which may be identified by terminology such as "may," "should," "will," "expect," "plan," "intend," "anticipate," "believe," "estimate," "predict," "potential," "forecast," "project," or "continue," the negative of such terms or other comparable terminology. Readers should not rely on forward-looking statements as predictions of future events or results.

The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, unless required by applicable law.

CONTACT: Ida Yu Sr. Manager of Investor Relations Tel: 86 (21) 6195 9561 Email: ir@huazhu.com http://ir.huazhu.comSource:China Lodging Group, Limited