During the second quarter of 2024, domestic travel market demand remained steady.

Aug 29, 2024 / CEO / receipt, needs a key / Wang Haijun, CEO | earnings call 2024-08-29 | transcript 4f2be1c9-39d2-4448-ba24-544cb8651836 | chars 1941-2022 | segment 1

In the first quarter of 2024, the demand for market travel has declined. Business travel has been affected by uncertainties and other factors, and has been recovering relatively slowly. Experience-based leisure travel has continued to perform well for two or three years on holidays and weekends.

May 23, 2024 / CEO / receipt, needs a key / Wang Haijun, CEO | earnings call 2024-05-23 | transcript cce2ecec-7330-4d42-9bbb-77b742b714ac | chars 1770-2066 | segment 1

During the first quarter of 2024, the travel market witnessed contrasting demand patterns. While the recovery of business travel was relatively subdued due to macro uncertainties, experience-driven leisure tourism during holidays and weekends maintained its growth momentum from 2023.

May 23, 2024 / CEO / receipt, needs a key / Wang Haijun, CEO | earnings call 2024-05-23 | transcript cce2ecec-7330-4d42-9bbb-77b742b714ac | chars 2067-2351 | segment 2

These results underscore the resilience of our hotel business, which is primarily fueled by business travel demand.

Mar 28, 2024 / CEO / receipt, needs a key / Wang Haijun, CEO | earnings call 2024-03-28 | transcript 1118c1d0-e54f-4064-bbc2-51171a9072a7 | chars 6369-6484 | segment 6

Our unremitting pursuit of growing to 2,000 premier hotels nationwide by 2025 while establishing the Chinese experience as the industry benchmark, along with the continuous expansion of our brand influence, enabled us to capture the growth opportunities arising from both business travel and the peak leisure travel season.

Nov 16, 2023 / CEO / receipt, needs a key / Wang Haijun, CEO | earnings call 2023-11-16 | transcript e8dae93b-4e4d-4b2b-96d9-02e517e38571 | chars 2024-2347 | segment 2

Travel and accommodation demand maintained solid growth momentum in the third quarter, highlighted by a notable uptick during the summer season.

Nov 16, 2023 / CEO / receipt, needs a key / Wang Haijun, CEO | earnings call 2023-11-16 | transcript e8dae93b-4e4d-4b2b-96d9-02e517e38571 | chars 2830-2974 | segment 2

As we enter into the post the pandemic era, we are seeing a rapid market recovery driven by surge in travel and accommodation demand.

May 18, 2023 / CEO / receipt, needs a key / Wang Haijun, CEO | earnings call 2023-05-18 | transcript 45b705f8-be0b-413e-a73a-77527cf51c03 | chars 40199-40332 | segment 40

As we enter into the post-pandemic era, we are seeing a rapid market recovery driven by surge in travel and accommodation demand.

May 18, 2023 / CEO / receipt, needs a key / Wang Haijun, CEO | earnings call 2023-05-18 | transcript 45b705f8-be0b-413e-a73a-77527cf51c03 | chars 3802-3931 | segment 3

Furthermore, same hotel RevPar for mature hotels in operation for more than 18 months recovered to 118% of 2019's level in the first quarter, showcasing a vigorous rebound of our business at the operational level. 刚刚过去的五一劳动节假期, The sudden outbreak of travel and accommodation needs further promoted the improvement of Rollerpads.

May 18, 2023 / CEO / receipt, needs a key / Wang Haijun, CEO | earnings call 2023-05-18 | transcript 45b705f8-be0b-413e-a73a-77527cf51c03 | chars 4513-4842 | segment 4

For the five-day Labor Day holiday, explosive demand for travel and hotels stimulated further improvement in RAVPAR to 133% of 2019's level.

May 18, 2023 / CEO / receipt, needs a key / Wang Haijun, CEO | earnings call 2023-05-18 | transcript 45b705f8-be0b-413e-a73a-77527cf51c03 | chars 5071-5211 | segment 5