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China Lodging's profit narrows to RMB 30.3 mln in Q4

Mar. 8, 2012 (China Knowledge) - China Lodging Group Ltd<HTHT>, a leading economic hotel chain operator in the country, reaped RMB 30.3 million or US4.8 million in net profit attributable to shareholders in the fourth quarter of 2011, whereas it earned RMB 34.9 million in the corresponding period of 2010.

On a non-GAAP basis, the U.S.-listed firm's net profit attributable to shareholders for the fourth quarter 2011 was RMB 33.2 million, less than RMB 38.4 million in three months ended Dec. 31, 2010.

Total revenues for the fourth quarter of 2011 were RMB 689.9 million, representing a 44.2% year-over-year increase. Revenues from leased-and-operated hotels stood at RMB 626.7 million and from franchised-and-managed hotels amounted to RMB 63.2 million.

Basic net earnings per American Depositary Share were RMB 0.50 on a GAAP basis and RMB 0.55 on a non-GAAP basis.

For the whole year of 2011, China Lodging's net profit attributable to shareholders reached RMB 114.8 million, less than RMB 215.8 million it realized in 2010. Total revenues for last year were RMB 2.39 billion, up 29.8% from a year earlier.

The company had RMB 783.1 million in cash and short-term investment at the end of last year.

In addition, the Chinese budget hotel operator aims to reap between RMB 605 million and RMB 620 million in the first quarter of 2012, up 43% to 46% year on year.

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