[Travel News]: Chinese hotel giant Huazhu reaps 15% of annual revenue from overseas unit aims to provide the latest global travel and free travel news, travel and visa policies, and flight information. We hope to provide insights into tourism market, technology and development trends with everyone by providing the latest relevant information. Despite the raging COVID-19 epidemic in 2020, we always firmly believe that mankind will overcome the disease and the tourism market will definitely recover. look forward to your attention and support, and witness the development of the global tourism industry with us. Looking forward to the information provide can help you. We will continue to follow up and obtain the latest data, and look forward to your attention and support.

The following is the [Travel News]: Chinese hotel giant Huazhu reaps 15% of annual revenue from overseas unit from [ChinaTravelNews] recommended by

As of last year, Huazhu still held USD 897 million worth of investments in companies including Accor (USD 593 million) and OYO (USD 10 million).

Huazhu Group, a multi-brand hotel group in China with international operations, revealed in its annual filing that as of March 31 its founder and CEO Mr. Qi Ji owned a more than 30% stake in the company, while online travel booking giant Group held a nearly 7% stake. 

As of the end of 2020, Huazhu still held a series of investments topping RMB 5,826 million (USD 897 million) in various businesses including a RMB 3,849 million (USD 593 million) stake in French hotel giant Accor and a RMB 66 million (USD 10 million) stake in Indian budget hotel startup OYO. 

Huazhu grew its hotel network rapidly in the past decade from 438 hotels in 2010 to 6,789 hotels in 2020. 

Huazhu had 15,699, 18,352 and 23,028 employees as of December 31 in 2018, 2019 and 2020, respectively.

The company’s loyalty program H Rewards covers all of its brands and had more than 169 million members as of December 31, 2020. In 2020, some 74% of Huazhu’s room-nights were sold to customers who were individual or corporate H Rewards members in legacy Huazhu.

Early last year, Huazhu completed its acquisition of Deutsche Hospitality, and the European hotel chain contributed 15% of Huazhu Group’s total revenue in 2020 despite the impacts of COVID-19.  

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button