GreenTree Hospitality Reports Revenue Decline in Second Quarter of 2026

The Shanghai-based operator reported a net income of RMB 21.3 million, a significant drop from the RMB 160.0 million recorded in the second quarter of 2025. This decline was largely driven by a reduction in RevPAR, which fell 9.1% to RMB 103, and an occupancy rate that dipped to 65.2%. The restaurant division also struggled, with average daily sales per store falling 20.3% year-over-year.

Despite these headwinds, the company maintained profitability through cost-cutting measures, reporting an operating income of RMB 48.2 million. Core net income, a non-GAAP metric, actually rose 4.4% to RMB 47.2 million. As of June 30, 2026, GreenTree operated 4,615 hotels and 198 restaurants, with aggressive expansion plans currently underway, including the development of a flagship property in Shanghai and a new asset in Malaysia.