GreenTree Hospitality Group Ltd. Reports First Quarter of 2024 Financial Results
GHGGreenTree(GHG) Prnewswire·2024-06-25 18:53

Total revenues decreased 7.1% year over year to RMB352.2 million (US48.8million)[1].Hotelrevenuesincreased8.848.8 million)[1]. Hotel revenues increased 8.8% year over year to RMB274.8 million. Income from operations was RMB72.2 million (US10 million) compared to RMB52.3 million for the first quarter of 2023. Net income was RMB57.3 million (US7.9million)comparedtoRMB32.6millionforthefirstquarterof2023.AdjustedEBITDA(non−GAAP)[2]increased17.27.9 million) compared to RMB32.6 million for the first quarter of 2023. Adjusted EBITDA (non-GAAP)[2] increased 17.2% year over year to RMB109.4 million (US15.2 million)[1]. Core net income (non-GAAP)[3] i ...