Greentree Hospitality (GHG) has released an update.
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GreenTree Hospitality Group Ltd. has reported a positive financial turnaround for Q4 and the fiscal year of 2023, with a year-over-year revenue increase of 3.2% to $52.4 million and net income shifting from a loss to a gain of $1.0 million. The hotel segment demonstrated robust growth with an occupancy rate rise to 72.4% and a 23.3% jump in RevPAR, while the restaurant business also saw an increase in average check value. This rebound reflects a recovery from the pandemic and a promising outlook for the company’s diverse hospitality portfolio.
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