Evening of March 17th，Wanda Hotel Development Co., Ltd. (hereinafter referred to as "Wanda Hotel Group") releases 2020 annual performance report。Report Display，Wanda Hotel Group achieved revenue of 6 in 2020.HK$5.5 billion，19 year-on-year decrease.4%，Net profit attributable to shareholders is 1.HKD 6.5 billion。The net loss in the same period last year was 1.HK$500 million，And the gross profit is 3.HK$9.1 billion，Its gross profit margin increased from approximately 66% in 2019.3% dropped to about 59 in 2020.7%。

Report also shows，As of December 31, 2020，The 188bet app download hotel network managed by Wanda Hotel Group includes 94 hotels， Operating guest rooms 25,473 rooms，Covering 71 cities in China，And 106 hotels that have signed to manage hotels that are under development and have not yet opened。Meanwhile，Wanda Hotel Group owns three leased and operated hotels，Two franchised hotels，It is worth mentioning，There are 89 managed hotels，Approximately 95% of all operating hotels。Also，The occupancy rate of all Wanda Hotel Group hotels in 2020 is 44.2% ，High-end and above hotels are 43.8%，53 for mid-range hotels.8%。

Wanda Hotel stated，Since Q1 2020，The overall occupancy rate of hotels in China has hit bottom，But by the fourth quarter, it has returned to about 90% of the level in 2019，The Group expects this recovery to continue in 2021，The Group will seize this opportunity to optimize the brand、Products and Technologies，To adapt to domestic travel needs。Also，Beijing Business Daily reporter also learned，Wanda Hotel Group will 188bet Online Sports Betting and Casino continue to expand its hotel business，And plans to operate and manage 10 to 15 new hotels in 2021。

Beijing Business Daily reporter also noticed，The sale of the Chicago project represents the completion of Wanda Hotel Group’s plan to realize its overseas property investment projects。Wanda Hotel Group will focus on developing fee-based business。Also worth noting，Wanda Hotel Group may sell interests in Guilin project，The group also stated，In order to centralize the charge business and leverage the Group’s expertise in hotel management，The company is currently discussing with Wanda Hong Kong the sale of its 51% interest in the Guilin project to Wanda Hong Kong。The terms of the sale have not yet been finalized，The parties are still negotiating。

188bet sports betting app download Source:Beijing Business Daily, Author:Wu Qiyun, original title: "Wanda Hotel’s net profit in 2020 is 1.6.5 billion yuan will continue to expand hotel business this year》.