Beijing News Shell Finance News (Reporter Qu Xiaoyi) On November 16th, Yaduo Group released its financial report for the third quarter of 2023. According to the financial report, Yaduo Group achieved a revenue of 1.294 billion yuan in the third quarter, a year-on-year increase of 93.1%; Adjusted net profit (non GAAP) was 272 million yuan, a year-on-year increase of 144.7%; Adjusted EBITDA (non GAAP) was 380 million yuan, a year-on-year increase of 122.4%.
The average rental room revenue reached a quarterly record high, reaching 118% in the same period of 2019
Yaduo stated that in the third quarter of this year, driven by the rapid growth of travel and accommodation demand, especially the significant increase in summer demand, multiple business indicators of the group showed significant growth. Among them, the RevPAR (average rental room revenue) of Yaduo Group was 424 yuan, setting a quarterly record high, reaching 118% of the same period in 2019. The RevPAR in July, August, and September of this year has recovered to 122%, 116%, and 115% of the same period in 2019, respectively.
Image/Provided by Yaduo Group
At the same time, the ADR (daily average room price) and OCC (occupancy rate) of Yaduo Group also achieved rapid growth in the third quarter, reaching 495 yuan and 82.4% respectively, both exceeding the same period in 2019. It is worth mentioning that during the Mid Autumn Festival National Day holiday this year, the ADR and OCC of Yaduo Group increased by 14.6% and 7.2% respectively compared to the 2019 National Day holiday, driving RevPAR to recover to the level of 123% in the same period in 2019.
Image/Provided by Yaduo Group
In terms of hotel scale, Yaduo opened 81 new stores in the third quarter of this year. As of the end of September this year, the network of hotels operated by Yaduo Group has reached 1112; There are 577 hotels to be developed within the pipeline, with a year-on-year increase of over 60%. Yaduo stated that the newly launched mid range product Qingju 3.0 in February this year has played a driving role in the rapid expansion of hotel scale. It is reported that in the third quarter of this year, Qingju 3.0 signed a total of 25 projects, accounting for over 15% of the newly signed hotels. As of the end of September, Qingju 3.0 has opened 13 stores, mainly located in core business districts of second tier and above cities. The average OCC in the fourth week of opening reached 78.8%, with RevPAR exceeding 340 yuan.
In addition, Yaduo Group has recently launched its mid to high end hotel brand Yaduo 4.0 version "Jianye", mainly targeting young business travelers. It has upgraded product design, user experience, spatial operation, and innovated functions such as business, sleep, and catering.
The total transaction volume of scenario retail business goods increased by 292% year-on-year to 302 million yuan
Data shows that in the third quarter of this year, Yaduo Group's scenario retail business GMV (total merchandise transaction volume) reached 302 million yuan, a year-on-year increase of 292%. Among them, online channel sales have grown strongly, accounting for 80% of the overall GMV. At the recently concluded Double Eleven Shopping Festival, the third-party e-commerce platform GMV of Yaduo's scene retail business exceeded 250 million yuan, an increase of over 600% compared to the same period last year.
Image/Provided by Yaduo Group
It is reported that in recent years, the scene retail business of Yaduo Group has maintained a high growth rate, and has established an efficient new product research and development mechanism, launching multiple popular products. For example, the Yaduo Planet Deep Sleep Pillow PRO, developed and launched in March this year, has sold over 800000 units as of November 11th; Another Yaduo planet deep sleep temperature control quilt, with a GMV of over ten million in September. On the online channel, the comprehensive experience of Yaduo's flagship stores in Tmall and Tiktok is five-star standard.
Data shows that the A-Card membership size of Yaduo Group is rapidly growing, and user stickiness continues to increase. As of September 30th, the cumulative number of registered members of Yaduo A-Card has exceeded 54 million. Through continuous iteration and upgrading of membership services and exclusive rights, Yaduo's A-Card membership system is also continuously creating value for users. For example, in the third quarter of this year, we will continue to upgrade the Yaduo Jinbao APLUS product to better meet the growing needs of members and provide personalized experiences.
In addition, the core self owned channels of Yaduo Group remain efficient, and even during the peak summer tourism season, the proportion of CRS (hotel reservation system) sold room nights remains stable, reaching 62.5% in the third quarter of this year.