GreenTree Hospitality Q3 sales fall on lower hotel revenues
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GreenTree Hospitality's Q3 revenue fell 15% year-over-year due to a decline in revenue per available room (RevPAR) and average daily rate (ADS). The company's net income also decreased, impacted by operational challenges. Despite opening 41 hotels, the company maintains a revenue guidance decline of 10% to 13% year-over-year. Key factors include an 8.4% drop in RevPAR, closure of 7 hotels, and a temporary waiver of RMB15 million in management fees.
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