Greentree Hospitality Group (GHG) has released an update.
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GreenTree Hospitality Group faced a challenging third quarter in 2024, with total revenues dropping by 22.5% to $50.9 million, while net income declined to $9.3 million from the previous year’s $117.4 million. Despite these setbacks, the company continued expanding its hotel portfolio with 109 new openings and maintained a positive net income for its restaurant segment by focusing on profitable store locations. The company remains optimistic about future growth amid economic recovery and government stimulus efforts.
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