On the evening of August 29th, Yaduo Group released its Q2 2024 financial report. According to financial report data, in the second quarter of this year, Yaduo Group achieved a total revenue of 1.797 billion yuan (RMB, the same below), a year-on-year increase of 64.5%; The adjusted net profit was 328 million yuan, a year-on-year increase of 31.6%; The adjusted EBITDA was RMB 443 million, a year-on-year increase of 28.6%. Based on positive expectations for the company's performance growth, Yaduo Group has released its annual performance guidance, expecting a year-on-year revenue growth of 48% -52% in 2024. Yaduo Group also disclosed a three-year dividend policy, planning to distribute no less than 50% of the net profit of the previous fiscal year annually.
With the increasing demand of consumers for high-quality and strong experiential accommodation, the domestic mid to high end hotel market is entering a rapid development stage. Taking Yaduo as an example, a total of 123 hotels were newly opened in the second quarter, and compared to the 97 hotels newly opened in the previous quarter, the pace of expanding stores has further accelerated. As of the end of the second quarter, the number of hotels operated by Yaduo Group reached 1412, a year-on-year increase of 36.6%.
According to the financial report, the average revenue from rentable rooms (RevPAR) of Yaduo Group's hotels in the second quarter was 359 yuan; The average daily room rate (ADR) is 441 yuan; The occupancy rate (OCC) reached 78.4%, a year-on-year increase of 1.3 percentage points.
It is worth mentioning that on June 28th this year, the first store of Yaduo 4.0 was launched in Xi'an, with a RevPAR of over 710 yuan and an OCC of over 91% in the first month. As of now, Ado 4.0 has signed 50 projects in over 30 cities across the country. Meanwhile, in the second quarter of Qingju 3.0, a total of 37 contracts were signed, accounting for over 20% of the total. As of the end of the second quarter, the number of Light Residence 3.0 hotels that have opened has reached 54, among which the RevPAR of Light Residence 3.0 hotels that have been in operation for three months exceeded 310 yuan in the second quarter.
Currently, with changes in consumer trends and policy support, "Hotel+" is regarded as a classic model for hotel innovation and differentiation. According to the financial report, in the second quarter of this year, Yaduo's retail business continued to maintain a strong growth momentum, with GMV reaching 620 million yuan, a significant increase of 157.6% year-on-year, of which online channels accounted for over 90%.
Founder and CEO of Yaduo Group, Wang Haijun, stated that thanks to the coordinated development of Yaduo's accommodation and retail businesses, the company once again demonstrated high-quality performance in the second quarter of 2024.