188bet online casino games Group (NYSE:GHG, China's leading hotel management group company，Hereinafter referred to as "188bet online casino games"，"Green" or the "Company") announced its unaudited third quarter financial report as of September 30, 2020。Hotel revenue recovered to more than 80% of the same period，Far high industry returns to average level for three consecutive quarters。

The third quarter of 2020，The company’s revenue is 2.6.7 billion yuan (approximately 3,USD 9.31 million)，up 23 month-on-month.6%，Restore to same period 91.4%。Operating profit is 1.0.1 billion yuan (approximately 1,USD 4.87 million)，Up 61 month-on-month.1%。In accordance with non-GAAP，The adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) attributable to 188bet online casino games is 1.3.4 billion yuan (approximately 1,USD 9.73 million)，up 46 month-on-month.6%。The company’s core net profit is 9,2.39 million yuan (approximately 1,USD 3.61 million)，up 23 month-on-month.8%。

Third Quarter，188bet online casino games continues to grow in size，The company opened 162 new hotels，The proportion of luxury and mid-to-high-end hotels is close to 30% for the first time。As of September 30, 2020，The company is in 341 cities across the country，Opened 4,195 hotels，Total number of rooms 305,125 rooms。Currently 1,110 hotels are under construction。33 stores closed during the same period，The ratio of closed stores to the total number of hotels is the smallest in the industry，Shows the lowest failure rate of joining the Green brand。

The average room rate of 188bet online casino games's hotels is 151 yuan，Up 6 month-on-month.5%，Restore to same period 87.1%。Occupancy rate 79.1%,15 month-on-month increase.7%，Restore to same period 92.1%。The daily income of a single room is 120 yuan，Up 32% month-on-month.9%，Restore to same period 80.2%。excluding expropriated hotels，The average revenue of a single room in 188bet online casino games's same store reached 125 yuan。

Assist franchisees to quickly restore profits，Leading the 188bet online casino games revenue continuously in Q1Q2Q3

According to STR data，The average room price of China’s hotel industry fell by 13% year-on-year in the third quarter.0%，The occupancy rate dropped by 6% year-on-year.4%，Daily revenue per room decreased by 21% year-on-year.5%。188bet online casino games’s revenue has recovered to more than 80% of the level of the same period，Leading the industry level for three consecutive quarters since the epidemic。

National Day and Mid-Autumn Festival，Calculated by China Tourism Academy，The country received a total of 6 domestic tourists.3.7 billion people，Recovered 79 year-on-year on a comparable basis.0%;Realize domestic tourism revenue 4,66.6 billion yuan，Recovered 69 year-on-year on a comparable basis.9%。Benefiting from the recovery of domestic tourism economy and consumer confidence，188bet online casino games’s performance during Golden Week was outstanding，The overall occupancy rate exceeds 85%，Better performance than the same period last year；The single-day occupancy rate exceeds 94% during holidays，The highest value since the epidemic，Demonstrates the stress resistance and rapid recovery ability of 188bet online casino games's brand hotels。

188bet online casino games is responsible for helping franchisees return their investment quickly，Mission to create more revenue，Through continuous optimization of the brand、Products and Systems，Promote intelligent construction and save costs、Improve efficiency；At the same time, to help franchisees develop，188bet online casino games provides franchisees with the most favorable fee policy and financial support policy。This year ends on November 30th，Provides more than 2 for franchisees.200 million yuan cash loan，Support franchisees’ short-term, medium- and long-term capital needs。

The store closing rate continues to be the lowest in the 188bet online casino games，Failure rate less than 1%，Highest franchise success rate

Green passed the perfect system、Management experience，Mature training system、Reasonable cost control system，Designing for franchisees、Decoration、Save a lot of costs in operations and other aspects，Improve profitability to the maximum extent。In the third quarter，Only 33 Green hotels have closed，The number of closed stores and the proportion of closed stores are both at the low level in the industry。Green knows every hotel he closes，Meaning that this store franchisee suffered significant investment losses。Green three consecutive quarters，A store closing rate of less than one percent，Shows the low failure rate of joining this brand，Fully reflects 188bet online casino games’s risk resistance and sustained profitability。

The mid- to high-end market continues to develop，The proportion of new stores reached a new high of nearly 30%

The company’s core business is mainly mid-range business hotels，Maintain the leadership in business travel，Focus on serving the public and mid-range business market。At the same time, the mid-to-high-end hotel brands that began to develop in 2017 began to burst out with vitality，Third Quarter，Luxury and mid- to high-end hotel openings account for 28% of all newly opened hotels.4%，Proportion hits record high。There are 273 luxury and mid-to-high-end hotels in the preparation stage at the same time，About 30% of the total number of hotels to be built。188bet online casino games's luxury and mid-to-high-end hotels include: 188bet online casino games Oriental、Gemei、Geya、Geffy、Sleepless、Accord、Auster and urban garden brands，Average decoration cost 8.50,000/room-100,000/room，The payback period is much shorter than the industry average。These brands will be the “mid-range core” in the next 3-5 years，Mid-to-high-end power，Laying the foundation for the strategic layout of "steady economic development"，Provide "high profits" for franchisees，Quick Return” provides more choices。

Cross-border cooperation helps 188bet online casino games make steady profits

188bet online casino games always closely follows the core needs of business travelers，Find the best balance between quality and price for guests。September this year，188bet online casino games parent company acquires "China's Top 100 Catering Enterprises"-Lugang Town，Expand the hotel’s customer base through the passenger flow of the parent company’s catering sector，Optimize the hotel’s value-added services，Acquire customers with healthy, delicious and diverse catering features，Increase return rate。Meanwhile，Use the convenience of the hotel’s original property to open a restaurant，Increase income，Also improve store floor efficiency，Helping franchisees improve profitability。

September this year，188bet online casino games Group and Tencent Game Life have officially reached a cooperation，Work together to explore the new “hotel + game” cross-border marketing model。The current main body of new consumption is the Z generation people，Games are one of the most popular hobbies of this customer group。This is the company’s innovation priority，Another attempt to develop a young customer base。

Mr. Xu Shuguang, Chairman of 188bet online casino games, said: "We sincerely thank all our employees and franchisees for their unremitting efforts and dedication，And the support of all our guests and partners，Because of everyone’s concerted efforts，Only Green leads the industry in recovery for three consecutive quarters。After experiencing the challenges of the first eleven months of 2020，We and our franchisees have accumulated rich experience，Also fully prepared。We are also confident in combining the advantages of our membership，System advantages，Bringing better results and returns to our franchisees and our shareholders in the coming quarter。”