Huazhu Group Responds to Additional Short Seller Report
30 September 2020 - 10:40AM
Huazhu Group Limited (Nasdaq: HTHT and HKEX: 1179), a leading and
fast-growing multi-brand hotel group in China with international
coverage (the “Company” or “Huazhu”), today responded to
allegations made in an additional short seller report published by
Bonitas Research LLC (“Bonitas Research”) on September 29, 2020.
Similar to the initial report published by Bonitas Research on
September 22, 2020, the Company believes the additional report is
without merit and that it contains numerous errors, unsubstantiated
statements, and misleading conclusions regarding the Company’s
business and operations.
Given that it has already responded to Bonitas Research’s
allegations twice, the Company may not respond to future
allegations by Bonitas Research, unless required by the applicable
laws or listing rules, and the market should not interpret that as
an admission that any future allegations are true.
The Company reiterates its commitment to maintaining the highest
standards of corporate governance, as well as transparent and
timely disclosure in compliance with the applicable rules and
regulations of the United States Securities and Exchange
Commission, the Nasdaq Global Select Market and The Stock Exchange
of Hong Kong Limited.
About Huazhu Group
Limited
Originated in China, Huazhu Group Limited is a world-leading
hotel group. As of June 30, 2020, Huazhu operated 6,187 hotels with
599,235 rooms in operation in 16 countries. Huazhu’s brands include
Hi Inn, Elan Hotel, HanTing Hotel, JI Hotel, Starway Hotel, Orange
Hotel, Crystal Orange Hotel, Manxin Hotel, Madison Hotel, Joya
Hotel, Blossom House, and Ni Hao Hotel. Upon the completion of
Deutsche Hospitality acquisition on January 2, 2020, Huazhu added
five brands to its portfolio, including Steigenberger Hotels &
Resorts, Maxx by Steigenberger, Jaz in the City, IntercityHotel and
Zleep Hotel. In addition, Huazhu also has the rights as master
franchisee for Mercure, Ibis and Ibis Styles, and co-development
rights for Grand Mercure and Novotel, in the pan-China region.
Safe Harbor Statement Under the U.S. Private Securities
Litigation Reform Act of 1995
The information in this release contains forward-looking
statements which involve risks and uncertainties. Any statements
contained herein that are not statements of historical fact may be
deemed to be forward-looking statements, which may be identified by
terminology such as “may,” “should,” “will,” “expect,” “plan,”
“intend,” “anticipate,” “believe,” “estimate,” “predict,”
“potential,” “forecast,” “project,” or “continue,” the negative of
such terms or other comparable terminology. Readers should not rely
on forward-looking statements as predictions of future events or
results. Any or all of the Company’s forward-looking statements may
turn out to be incorrect. They can be affected by inaccurate
assumptions, risks and uncertainties and other factors which could
cause actual events or results to be materially different from
those expressed or implied in the forward-looking statements. In
evaluating these statements, readers should consider various
factors, including the anticipated growth strategies of the
Company, the future results of operations and financial condition
of the Company, the economic conditions of China and Europe, the
regulatory environment in China and Europe, the Company’s ability
to attract customers and leverage its brands, trends and
competition in the lodging industry, the expected growth of the
lodging market in China and Europe, the spread and impact of
COVID-19, and other factors and risks outlined in the Company’s
filings with the Securities and Exchange Commission, including its
annual report on Form 20-F and other filings. These factors may
cause the Company’s actual results to differ materially from any
forward-looking statement. In addition, new factors emerge from
time to time and it is not possible for the Company to predict all
factors that may cause actual results to differ materially from
those contained in any forward-looking statements. Any projections
in this release are based on limited information currently
available to the Company, which is subject to change. This release
also contains statements or projections that are based upon
information available to the public, as well as other information
from sources which the Company believes to be reliable, but it is
not guaranteed by the Company to be accurate, nor does the Company
purport it to be complete. The Company disclaims any obligation to
publicly update any forward-looking statements to reflect events or
circumstances after the date of this document, except as required
by applicable law.
Contact InformationHuazhu Investor RelationsTel: +86 (21) 6195
9561Email: ir@huazhu.comhttp://ir.huazhu.com
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