China Tracker - Details for China Lodging Group (HTHT)


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 China Lodging Group
Shares Outstanding (MRQ): 61.88 mill
New Shares / Dilution (TTM): 15.32 mill32.89%
Cash (MRQ): 190.08 mill0.00%
Account Receivables (MRQ): 3.32 mill0.00%
Account Receivables (Q/Q): -0.25 mill  
Long-Term Debt (MRQ): 47.50 mill0.00%
Revenue Growth (Q/Q): 16.88% 
Revenue Growth (Y/Y): 48.42%
Net Income Growth (Q/Q): -16.40% 
Net Income Growth (Y/Y): 298.53%
EPS Growth (Y/Y): 199.88%
Net Margin (Q/Q): 17.5% (24.5%)-7.00% 
Net Margin (Y/Y): 17.5% (6.5%)11.00% 
EPS | P/E (2 MRQ Projection): $0.940.00 
CFPS | P/CF (2 MRQ Projection): $1.470.00 
Price/Sales (2 MRQ Projection): 0.00
Price/Book (MRQ): 0.00 
Auditor: Deloitte Touche
 
 Forward Projections (Fiscal Year)
EPS | P/E (Estimates updated 2012-10-21): $4.240.00 
 Basic Facts and History (show more)
Reporting Type: Foreign Company (20-F Filings) 
Going Public: IPO on 2010-03-26 
IPO Price: $12.25 (-100.00% since IPO)

 Business Outlook

We are pleased to achieve 78 net new hotel openings in the first half of 2011, and remain confident in achieving our full year target of 200 new openings. At the same time, we also recognize that the Shanghai market weakness after the Expo and China's macroeconomic situation slowed down our same-hotel RevPAR appreciation in 2011. Our revenue was also reduced by the delay in new hotel opening mainly caused by lengthened business licenses application process. As a result, we adjusted our expectation of net revenue growth to 28% to 32% for the full year of 2011. The Company expects to achieve net revenues in the range of RMB605 to RMB625 million in the third quarter of 2011.

"We continue to see significant growth and consolidation opportunities in the China lodging market. With the progress of nationwide transportation infrastructure, our business will further expand as a result of the population's increased mobility and the surge in domestic traffic. During the year of 2012 we plan to open 240 to 250 new hotels, with approximately half being leased-and-operated hotels. The new openings in 2012 will include 40 to 50 Seasons Hotels and Hi Inns combined. Our multi-brand strategy will enable us to enjoy a large base of customers and will accelerate our growth in the future years. In the long run, we expect our same-hotel RevPAR to increase, through strengthening our brand and increasing customer satisfaction. We believe that our popularity among franchisees will continue to enhance as our reputation as a capable and credible hotel operator spreads. We expect that those trends will have a positive impact on our long-term margin.

(Source: PR Newswire, 2011-08-15)

The Company expects to achieve net revenues in the range of RMB530 to RMB550 million in the second quarter of 2011. "We are on track to open around 200 new hotels this year and to grow our revenue at a fast pace. As we progress into the second quarter, certain factors that affected our first quarter performance, such as prolonged low season and post-Expo impact in Shanghai, are now behind us. We are confident that the outlook of the domestic travel market will continue to grow fast. Our investment in leased-and-operated hotels will position us advantageously to capture the growth opportunity. Despite of the near-term margin pressure, we remain confident that our investment in 2011 will enable us to a strong revenue and profit growth in 2012 and forward."

(Source: PR Newswire, 2011-05-10)

The Company expects to achieve net revenues in the range of RMB450 to 470 million in the fourth quarter of 2010. In light of the stronger than expected demand driven by the Expo and our successful increase of same-hotel revenue, we adjust our full year net revenues forecast to grow 38% to 39% from 2009.

"We are confident with our previously announced full year plan of 185-195 new hotel openings in 2010. With a good acceptance of all three HanTing hotel products in the market, we expect to benefit from our multiple-brand strategy in the next couple of years, evidenced by expanding customer coverage and growing interest from hotel franchisees."

(Source: Globe Newswire, 2010-11-08)

    see all Business Outlook notes


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 Analyst Coverage (show more)
2011-08-22Goldman SachsUpgradeConviction Buy$27.00
2011-08-17Morgan StanleyReiterationOverweight$24.00
2011-08-16Goldman SachsReiterationBuy$26.50
2011-08-15J.P. MorganReiterationOverweight$26.50
2011-08-11Roth CapitalReiterationBuy$25.00

HTHT is currently followed by 8 analysts. 7 give the stock a positive rating, 1 rate it neutral and 0 give it a negative rating. The average price target is 25.70.


    see all Analyst Ratings
HTHT
Travel
SCORE
6
READ: Score Cards Explained
SAFETY/RISK SCORE
HIGH SAFETY
DETAILS: Safety/Risk Model for HTHT
Current Price:  n/a
F10k Day (2010-03-26): -100.00%$13.92
2010 Close: -100.00%$21.78
2011 Close: -100.00%$14.20
High (2012-10-18): -100.00%$17.55
Low (2012-07-12): -100.00%$10.51
Exchange:
Market Capitalization: n/a
Total Shares: 61.88 mill
Float: n/a
Avg Volume: 158.20 k
Short Interest: 2.24 mill
Short Ratio: 1.13%14.2 d
Last Quarter: 2010-09-30
Revenue (MRQ): 75.64 mill
Net Income (MRQ): 13.26 mill
Op. Cash Flow (MRQ): 24.50 mill
all financial data provided without warranty