Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.
Jinmao Hotel
金 茂 酒 店
(As constituted pursuant to a deed of trust on 13 June 2014 under the laws of Hong Kong, the trustee of which is
Jinmao (China) Investments Manager Limited)
and
Jinmao (China) Hotel Investments and Management Limited
金 茂( 中 國 )酒 店 投 資 管 理 有 限 公 司
(Registered in the Cayman Islands with limited liability)
(Stock Code: 06139)
UNAUDITED OPERATIONAL DATA
AND OTHER BUSINESS UPDATE FOR THE
FIRST THREE QUARTERS OF 2019
UNAUDITED OPERATIONAL DATA
The boards of directors (the "Boards" ) of Jinmao (China) Investments Manager Limited (the "Trustee-Manager" , as trustee-manager of Jinmao Hotel (the "Trust" )) and Jinmao (China) Hotel Investments and Management Limited (the "Company" ) hereby announce certain unaudited operational data of the Trust and the Company as follows:
Accumulated | Accumulated | ||||||
occupancy | occupancy | ||||||
for the first | for the first | ||||||
three quarters | three quarters | ||||||
Hotel areas | Rooms | of 2019 | of 2018 | Change | |||
Shanghai | 790 | 76.9% | 78.2% | -1.7% | |||
Sanya | 956 | 77.0% | 74.7% | 3.0% | |||
Beijing | 879 | 85.8% | 85.8% | 0.0% | |||
Other districts | 812 | 71.9% | 63.5% | 13.3% | |||
Total | 3,437 | 78.0% | 75.7% | 3.0% | |||
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Accumulated | Accumulated | ||||||
average | average | ||||||
daily rate | daily rate | ||||||
for the first | for the first | ||||||
three quarters | three quarters | ||||||
Hotel areas | Rooms | of 2019 | of 2018 | Change | |||
Shanghai | 790 | 1,240 | 1,261 | -1.6% | |||
Sanya | 956 | 1,352 | 1,575 | -14.1% | |||
Beijing | 879 | 1,104 | 1,112 | -0.7% | |||
Other districts | 812 | 913 | 979 | -6.7% | |||
Total | 3,437 | 1,162 | 1,248 | -6.9% | |||
Accumulated | Accumulated | ||||||
RevPAR | RevPAR | ||||||
for the first | for the first | ||||||
three quarters | three quarters | ||||||
Hotel areas | Rooms | of 2019 | of 2018 | Change | |||
Shanghai | 790 | 953 | 985 | -3.3% | |||
Sanya | 956 | 1,041 | 1,177 | -11.6% | |||
Beijing | 879 | 948 | 954 | -0.7% | |||
Other districts | 812 | 657 | 621 | 5.7% | |||
Total | 3,437 | 907 | 945 | -4.1% | |||
OTHER BUSINESS UPDATE
Reference is made to the announcement of the Company dated 5 December 2018 (the "Announcement" ) in relation to the Limited Partnership Agreement regarding the establishment of
the Fund (both as defined in the Announcement). Pursuant to the Limited Partnership Agreement, Tianjin Xinmao Equity Investment Partnership (Limited Partnership) (天津信茂股權投資合夥企 業(有限合夥)) was established and completed a 100% equity investment in Shaanxi Gulou Grand Hotel Company Limited (陝西鼓樓大酒店有限公司) through a specific structure. The primary
assets of Shaanxi Gulou Grand Hotel Company Limited include a serviced apartment property with an area of approximately 13,000 sq.m. in the centre of Xi' an City, Shaanxi Province. It is named as "Jinmao Hotel Xi' an Central" after re-positioning and upgrading, and was grandly opened on 28 July 2019. The hotel is situated in the Drum Tower business circle, the core of tourism of Xi' an, comprising 160 rooms. Design of the hotel is cosy and reductionist, perfectly combined with modern and traditional style.
The Company promoted the strategy of "balanced structure of asset-light and asset-heavy business" , to increase the revenue by enhancing the expansion of asset-light business, including hotel and apartment self-management and consulting, tourism consulting, commercial real estate property management and consulting business. The Company will create value for holders of share stapled units through the synergetic development of asset-light and asset-heavy business. In the third quarter, the Company successfully undertook the tourism and property consulting
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service of Lanzhou Asia-Europe International Building(蘭州亞歐國際大廈), the tallest building in the Northwest China, which is located at the Nanguan cross business circle in the core area of Lanzhou, with a ground height of 313 meters and a total gross floor area of approximately 137,000 square meters. It is an urban complex integrating business office buildings, hotels, tourism, and other commercial forms.
Notes:
1. Hotel areas:
- | Shanghai | : | Grand Hyatt Shanghai, Hyatt Regency Chongming |
- | Sanya | : | Hilton Sanya Yalong Bay Resort & Spa, The Ritz-Carlton Sanya, Yalong Bay |
- | Beijing | : | The Westin Beijing Chaoyang and Renaissance Beijing Wangfujing Hotel |
- Other districts : JW Marriott Hotel Shenzhen, Lijiang Jinmao Hotel • The Unbound Collection by Hyatt and Jinmao Purelax Mountain Hotel, Lijiang (formerly known as Grand Hyatt Lijiang)
- Rooms refer to the total number of hotel rooms whether leased or not. Number of leasable rooms refers to the number of total hotel rooms excluding long-termnon-leasable and/or permanent self-use rooms.
- Occupancy is calculated as the total number of leased rooms divided by the total number of leasable rooms.
- Average daily rate is calculated as the total room revenue divided by the total number of leased rooms.
- RevPAR (revenue per available room) is calculated as the total room revenue divided by the total number of leasable rooms.
- Occupancy, average daily rate and RevPAR are calculated according to the weighted average number of rooms for all the hotels.
Holders of share stapled units of the Trust and the Company and potential investors are reminded that the above operational data are based on the Company' s records and have not been audited or reviewed by the Company' s independent auditors. Holders of share stapled units of the Trust and the Company and potential investors are advised to exercise caution when dealing in share stapled units of the Trust and the Company.
By Order of the Boards
Jinmao (China) Investments Manager Limited
and
Jinmao (China) Hotel Investments and
Management Limited
LI Congrui
Chairman
Hong Kong, 25 October 2019
As at the date of this announcement, the directors of the Trustee-Manager and the Company are Mr. LI Congrui (Chairman), Mr. ZHANG Hui and Mr. JIANG Nan as non-executive Directors; Mr. TANG Yong as executive Director and Chief Executive Officer; and Dr. CHUNG Shui Ming Timpson, Dr. CHEN Jieping and Dr. XIN Tao as Independent non-executive Directors.
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Jinmao China Hotel Investments and Management Ltd. published this content on 25 October 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 25 October 2019 15:40:05 UTC