After three years of losses, Jinjiang Hotels appears to have passed a turning point. Its Q3 financial results revealed 4.2 billion yuan (US$570 million) in operating revenue. In the first three quarters, the company generated 975 million in net income, considerably better than the 50 million yuan seen this time last year.
Jinjiang has also opened more hotels, 197 in Q3 alone, taking the total to over 12,000, more than any other chain in China.
The RevPAR (Revenue Per Available Room), a key indicator of a hotel's profitability, has grown in both mid-end and economy hotels, domestically and abroad, returning to pre-pandemic levels.
However, the impressive results have not translated into a rising share price. After reaching a peak of 67.97 yuan in April, Jinjiang stock has tracked steadily downward, closing at 32.39 yuan.
