Huazhu Group Limited Announces Director Resignation
22 December 2021 - 9:30PM
Huazhu Group Limited (NASDAQ: HTHT and HKEX: 1179) (“Huazhu” or the
“Company”), a world-leading hotel group, today announced that Mr.
Sébastien Bazin has resigned as a director of the Company,
effective immediately. Upon the resignation of Mr. Bazin, Mr.
Gaurav Bhushan has also ceased to be an alternate director to Mr.
Bazin.
After this change, the Company’s board of directors (the
“Board”) will be comprised of seven directors, including Mr. Qi Ji,
Mr. Shangzhi Zhang, Mr. John Jiong Wu, Ms. Tong Tong Zhao, Mr. Jian
Shang, Ms. Lei Cao and Mr. Theng Fong Hee.
The Board would like to thank Mr. Bazin and Mr. Bhushan for
their dedication and contribution to Huazhu’s growth over the
years, and wish them success in their future endeavors.
About Huazhu Group Limited
Originated in China, Huazhu Group Limited is a world-leading
hotel group. As of September 30, 2021, Huazhu operated 7,466 hotels
with 722,983 rooms in operation in 17 countries. Huazhu’s brands
include Blossom House, CitiGO Hotel, Crystal Orange Hotel, Elan
Hotel, HanTing Hotel, Hi Inn, JI Hotel, Joya Hotel, Madison Hotel,
Manxin Hotel, Ni Hao Hotel, Orange Hotel and Starway Hotel. Upon
the completion of the acquisition of DH on January 2, 2020, Huazhu
added five brands to its portfolio, including IntercityHotel, Jaz
in the City, MAXX by Steigenberger, Steigenberger Hotels &
Resorts and Zleep Hotels. In addition, Huazhu also has the rights
as master franchisee for Ibis, Ibis Styles and Mercure, and
co-development rights for Grand Mercure and Novotel, in the
pan-China region.
Huazhu’s business includes leased and owned, manachised and
franchised models. Under the lease and ownership model, Huazhu
directly operates hotels typically located on leased or owned
properties. Under the manachise model, Huazhu manages manachised
hotels through the on-site hotel managers that Huazhu appoints, and
Huazhu collects fees from franchisees. Under the franchise model,
Huazhu provides training, reservations and support services to the
franchised hotels, and collects fees from franchisees but does not
appoint on-site hotel managers. Huazhu applies a consistent
standard and platform across all of its hotels. As of September 30,
2021, Huazhu operates 15 percent of its hotel rooms under lease and
ownership model, and 85 percent under manachise and franchise
models.
For more information, please visit Huazhu’s website:
http://ir.huazhu.com.
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. Such factors and
risks include our anticipated growth strategies; our future results
of operations and financial condition; economic conditions; the
regulatory environment; our ability to attract and retain customers
and leverage our brands; trends and competition in the lodging
industry; the expected growth of demand for lodging; and other
factors and risks detailed in our filings with the U.S. Securities
and Exchange Commission. 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.
Huazhu undertakes no obligation to update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise, unless required by applicable law.
Contact Information
Huazhu Investor Relations
Tel: 86 (21) 6195 9561
Email: ir@huazhu.com
http://ir.huazhu.com
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