JINJIANG HOTELS(600754) 深圳商报·2025-04-16 01:00Core Viewpoint - Shanghai Jin Jiang International Hotel Co., Ltd. reported a significant decline in both revenue and net profit for the year 2024, indicating a challenging operational environment for the company [1][2][3]. Financial Performance - The company experienced a 4% year-on-year decrease in revenue, totaling 14.063 billion yuan, and a 9.06% decline in net profit, amounting to 911 million yuan [2][3]. - The average room rate for domestic limited-service hotels fell by 11.19 yuan to 240.67 yuan, while the occupancy rate decreased by 0.93 percentage points to 65.43% [2][3]. - The overseas operations, particularly the Louvre Group, reported a net loss of 10.79 million euros, with the limited-service chain hotel business suffering an expanded net loss of 56.89 million euros [2][3]. Business Operations - The company opened 1,515 new hotels in 2024, bringing the total to over 17,300 hotels, but faced challenges in its core limited-service hotel segment [2][4]. - The decline in revenue and net profit was attributed to decreased performance in domestic limited-service hotels and the impact of asset disposals [2][3]. Strategic Initiatives - In response to performance pressures, the company is optimizing its brand matrix and has restructured its organizational framework from "7 major centers and 37 departments" to "13 departments and 2 business units" [4]. - The company introduced a "12+3+1" brand strategy, aiming to cultivate three core mid-to-high-end brands by 2028 and expand into the vacation segment [4]. - Plans for 2025 include opening 1,300 new hotels and signing 2,000 new contracts, alongside exploring the long-term apartment sector to create new growth opportunities [4].