Evening of March 24, 2021，188bet best bookmaker released its 2020 fourth quarter financial report and 2020 full year financial report。

The fourth quarter of 2020，Although the new crown epidemic still rebounds sporadically in many places，However, 188bet best bookmaker (including DH Hotel Group) still opened 396 stores despite the trend in the fourth quarter。188bet best bookmaker’s hotel revenue (GMV) increased by 17% year-on-year compared to 2019.5% to RMB 11 billion；Net income increased by 5 compared to the same period in 2019.5% to RMB 3.1 billion，Better than previously announced guidance of 0%-3%；Net profit increased by 13% year-on-year compared to 2019.6% is RMB 7.0.3 billion yuan；EBITDA (non-GAAP) increased by 2 year-on-year.3% to RMB 1.1 billion，Important indicators are better than previously expected。

It’s worth noting，If not included in DH，Net profit attributable to 188bet best bookmaker Co., Ltd. in the fourth quarter of 2020 was RMB 1 billion。Full Year 2020，188bet best bookmaker’s hotel revenue (GMV) is RMB 33 billion，Net income is RMB 10.2 billion。

Founder of 188bet best bookmaker、Executive Chairman and CEO Ji Qi said: "In 2020，COVID-19 poses very significant challenges to our China and European businesses。However，Although the COVID-19 epidemic has resurgenced several times in many regions，However, our China business recovered strongly during the year, especially in the second half of 2020。Second half of the year，Adjusted EBITDA of our China operations reached over RMB 1.6 billion。We will continue to expand our hotel network and business planning and digitalization plans for our European business。》

Business recovery is strong and store opening speed still leads the industry

Thanks to the Chinese government’s strong control over the epidemic，Huazhu Group’s 188bet best bookmaker have shown strong recovery momentum。

Specifically，Take Huazhu China’s 188bet best bookmaker as an example: from the perspective of room prices， The average daily house price in the fourth quarter of 2020 is RMB 231，Up 6% month-on-month。The average daily price in 2020 is RMB 210；From the perspective of occupancy rate，Occupancy rate in the fourth quarter of 2020 is 80.6%。Full year 2020 occupancy rate 71.0%；From RevPAR，Blended RevPAR for the fourth quarter of 2020 was RMB 186。 Full-year mixed RevPAR in 2020 was RMB 149。

Meanwhile，188bet best bookmaker’s operating conditions are still recovering。From the perspective of housing prices，The average daily house price in the fourth quarter of 2020 is 76 euros。The average daily room price for the whole year of 2020 is 88 euros；From the perspective of occupancy rate，Occupancy rate in the fourth quarter of 2020 is 22.5%。The full-year occupancy rate in 2020 is 34.8%；From RevPAR，Blended RevPAR Q4 2020 €17。This figure for the whole of 2020 is €31。

A gratifying performance is，Although the new crown epidemic has had an immeasurable serious impact on the global hotel industry，But 188bet best bookmaker insists on investing heavily in China、Strategy of Thousands of Cities and Tens of Stores，The speed of store opening is still the industry leader。

Specifically，Within the fourth quarter of 2020，Huazhu China opens 393 188bet best bookmaker，Including 4 rental 188bet best bookmaker and 389 managed franchise 188bet best bookmaker and franchise 188bet best bookmaker。DH Hotel Group opens 3 188bet best bookmaker，Including 2 rental 188bet best bookmaker and 1 managed franchise and franchise hotel。All year 2020，Huazhu China opens 32 rental 188bet best bookmaker and 1,605 managed franchise 188bet best bookmaker and franchise 188bet best bookmaker，And closed 39 rental 188bet best bookmaker and 547 management, franchise and franchise 188bet best bookmaker。DH Hotel Group opened 8 rental 188bet best bookmaker and 4 management franchise 188bet best bookmaker and franchise 188bet best bookmaker，And closed 2 rental 188bet best bookmaker and 9 management franchise and franchise 188bet best bookmaker。

As of December 31, 2020，Huazhu Group has 2 in total,449 188bet best bookmaker to be opened，Including 2 from Huazhu China,411 188bet best bookmaker and 38 188bet best bookmaker from DH Hotel Group。

The high-end strategy has taken a substantial step forward and net income is expected to grow by more than 50% in 2021

March 22，Huazhu Group and Sunac Culture and Tourism Group held a strategic cooperation press conference in Changsha，Announcement of the establishment of a joint venture between the two parties - Yongle Huazhu Hotel Management Co., Ltd.，The meeting was held at Changsha Sunac Shibago Hotel、Signing agreement between Changsha Shibaige Grand View Hotel and Changsha International Conference Center。Huazhu Group will become a subsidiary of Shibaige、The future development of Huajiantang and other brands、Operation authorization to joint venture company，Sunac Culture and Tourism also authorized its brands such as Jinshan to the joint venture，The joint venture will also focus on developing Songpin、High-end luxury hotel brands such as Yongle Banshan，Promoting brand diversity。Yongle Huazhu will integrate the advantages of both parties，Actively expand cooperation with third-party owners，Jointly develop the domestic high-end hotel business。It is reported，More than 20 188bet best bookmaker will sign contracts in the near future。

“188bet best bookmaker and Sunac established a joint venture，Represents 188bet best bookmaker’s substantial step into the high-end market。"Ji Qi said。

From the European perspective，Despite the rebound of the epidemic，DH’s net income in the fourth quarter of 2020 remains in line with Huazhu’s previous guidance。Also，European countries start vaccination process from December 2020，will bring benefits to the recovery of European 188bet best bookmaker。With the establishment of a joint venture between Huazhu and Sunac Culture and Tourism，DH Hotel Group’s 188bet best bookmaker will gradually be launched in batches in the country，While further enhancing the value of Sunac Cultural Tourism properties，Targeted solution to the high cost of high-end 188bet best bookmaker in China、Low return、High investment、The pain point of low floor efficiency，Thus effectively supplementing Huazhu’s layout in the high-end field，Achieving full coverage of the product matrix from economical to high-end luxury。

Domestic data shows，Regions with lowered COVID-19 risk levels，Showing the strong resilience of travel demand。After New Year，Our performance has begun to recover steadily again。March 2021，The RevPAR of Huazhu Group’s 188bet best bookmaker has rebounded to 80% of 2019 levels。After further relaxing travel restrictions from March 16, 2021，Hotel demand in Beijing area quickly recovered at a strong pace。

Therefore，Outlook for 2021，188bet best bookmaker expresses full confidence。Announcement display，In the first quarter of 2021，188bet best bookmaker expects net income to increase by 8% to 10% compared with the first quarter of 2020，or an increase of 61% to 63% (if DH is not included)。All year 2021，188bet best bookmaker expects net income to increase by 50% to 54%，or an increase of 50% to 54% (if DH is not included)。

188bet best bookmaker’s strategy for the future，Ji Qi said “looking forward to the future，We believe that the COVID-19 epidemic will not change the long-term growth potential of China’s accommodation industry。Under China’s “dual circulation” economic model，We continue to emphasize our "Focus on China" strategy and our unique trinity "super composite" business model，To further expand the hotel network。What’s more important，As customers pay more attention to quality after the COVID-19 epidemic，So our future expansion will not only focus on speed，And will pay more attention to quality issues。Also，We are continuing to improve and upgrade our technical and organizational capabilities，To support the execution of long-term strategies。”

As of December 31, 2020，Huazhu has a total of 6 188bet best bookmaker in operation worldwide,789 188bet best bookmaker and 652,162 rooms，Including 120 188bet best bookmaker that have joined DH。All year 2020，The company opened 40 rental 188bet best bookmaker and 1,609 managed franchise 188bet best bookmaker and franchise 188bet best bookmaker，And closed 41 rental 188bet best bookmaker and 556 managed, franchised and franchised 188bet best bookmaker。As of December 31, 2020，Huazhu Group has 2 in total,449 188bet best bookmaker to be opened，Including 2 from Huazhu China,411 188bet best bookmaker and 38 188bet best bookmaker from DH Hotel Group。