GreenTree Hospitality Group Ltd. reported operating results for the six months ended June 30, 2022. For the period, the company reported A total of 3,934 organically developed hotels with 296,330 hotel rooms were in operation as of June 30, 2022, compared to 3,859 organically developed hotels with 292,219 hotel rooms as of December 31, 2021. As of June 30, 2022, GreenTree had 58 L&O hotels and 3,876 F&M hotels in operation in 351 cities across China, compared to 53 L&O hotels and 3,676 F&M hotels in operation in 339 cities as of June 30, 2021.

GreenTree's geographic coverage increased by 3.5% year over year. During the first half of 2022, GreenTree opened 159 hotels, a decrease of 194 compared to 353 hotels in the first half of 2021. Of those hotels, 27 were in the mid-to-up-scale segment, 102 in the mid-scale segment, and 30 in the economy segment.

Geographically speaking, 13 hotels were in Tier 1 cities[2], 35 in Tier 2 cities and the remaining 111 in Tier 3 and lower cities in China. As of June 30, 2022, GreenTree had a pipeline of 812 hotels contracted for or under development, among which 199 hotels were in the mid-to-up-scale segment, 427 in the mid-scale segment, and 186 in the economy segment. The average daily room rate, or ADR, for GreenTree L&O and F&M hotels in operation, was RMB 155 in the first quarter of 2022, an increase of 2.7% from RMB151 in the first quarter of 2021.

Such ADR was RMB148 in the second quarter of 2022, a 13.4% year-over-year decrease. The occupancy rate, or OCC, for GreenTree L&O and F&M hotels in operation was 62.1% in the first quarter of 2022, a decrease of 4.2% compared with 66.3% in the first quarter of 2021. Such OCC was 64.9% in the second quarter of 2022, compared with 82.1% in the second quarter of 2021.