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GreenTree Hospitality Group (GHG) investor relations material
GreenTree Hospitality Group Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary23 Dec, 2025
Executive summary
Total revenues for Q3 2025 were RMB 303.6 million, down 15.0% year-over-year, with hotel revenues at RMB 254.5 million (down 11.3%) and restaurant revenues at RMB 49.4 million (down 30.1%).
Net income for Q3 2025 was RMB 60.3 million, down 7.5% year-over-year, with a net margin of 19.9%.
Adjusted net income rose 5.7% to RMB 90.5 million, with a margin of 28.4%.
Adjusted EBITDA for the quarter was RMB 115.0 million, down 6.1% year-over-year, with a margin of 37.9%.
Cash from operations increased 3.8% year-over-year to RMB 144.5 million.
Financial highlights
Hotel RevPAR was RMB 124, down 8.4% year-over-year; occupancy rate decreased to 71.3% from 74.6%.
Restaurant average daily sales per store dropped 24.1% to RMB 3,714; average check fell 19.3% to RMB 37.
Hotel income from operations was RMB 69.1 million, down 30.5% year-over-year; adjusted income from operations was RMB 109.3 million, up 3.6%.
Core net income (non-GAAP) for Q3 2025 was RMB 78.0 million, down 16.5% year-over-year.
Gross profit for Q3 2025 was RMB 126.5 million, with a gross margin of 41.7%.
Outlook and guidance
Revenue guidance for the hotel business is maintained at a year-over-year decline of 10% to 13%, reflecting closures of certain leased-and-owned hotels due to lease expirations and strategic adjustments.
Strategic Asset Purchase Cash Impact
Restaurant Profitability Decline Drivers
Hotel Cost Efficiency Sustainability
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Next GreenTree Hospitality Group earnings date
Q4 202523 Apr, 2026
Next GreenTree Hospitality Group earnings date
Q4 202523 Apr, 2026
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Frequently asked questions
GreenTree Hospitality Group Ltd. is a hotel management company that operates a range of mid-scale and economy hotels under the GreenTree brand in China. The company's portfolio includes franchised and managed hotels catering to both business and leisure travelers. GreenTree offers services and amenities designed to meet the needs of cost-conscious customers, with a focus on providing a comfortable and convenient lodging experience. The company also engages in franchise development and supports its franchisees with management and operational services. The company is headquartered in Shanghai, China, and its shares are listed on the NYSE.
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