Budget hotel operator GreenTree Hospitality’s revenue dropped by 7.1% in the first quarter due to a restructuring of its restaurant operation, which offset growth in its core hotel business. Despite the addition of new hotels helping hotel revenue to increase by 8.8%, the company’s RevPAR (Revenue Per Available Room) fell by 4.6% as China’s year-long travel resurgence began to falter. The size and profitability of China’s budget hotel market in smaller cities is substantial, but investor respect is lacking, as evidenced in the recent valuation of GreenTree Hospitality. Despite being the leading player in the market, the impacts of restructuring and slowing travel trends have significantly impacted the company’s performance.
Travel Capitalist Ventures Expands Check Size to $10 Million to Deepen Emerging Market Conviction
Boutique Travel VC raises investment cap from $1.5M to $10M to lead rounds and support portfolio companies through growth Travel...
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