China-based Huazhu Hotels Group Ltd recently announced that it has surpassed UK-based InterContinental Hotels Group as the worlds fourth highest value hotel group.
According to data from Capital IQ, a global market intelligence firm, Huazhu possessed a market value of USD12.8 billion as of 31 May 2018, while IHG was valued at around USD12.1 billion.
Marriott was the worlds highest value hotel group with a market capitalization of around USD47.8 billion, followed by Hilton (USD24.2 billion) and AccorHotels (USD15.9 billion).
Huazhu now has 18 brands with 3,817 hotels and 384,959 rooms in 382 cities across China.
According to its financial report, the group achieved a net revenue of RMB2,091.2 million (USD333.4 million) in the first quarter of 2018, a year-on-year increase of 29.6%.
www.hvs.com
