Huazhu Group Limited (NASDAQ: HTHT) (“Huazhu” or the “Company”), a
leading and fast-growing hotel group, today announced the
appointment of Ms. Lei Cao and Mr. Theng Fong Hee as directors of
the Company’s board of directors (the “Board”). Ms. Xiaofan Wang
will no longer serve as a director of the Board and will serve as a
board observer going forward.
Ms. Lei Cao is the head of tax Greater China at Philips
Singapore. Prior to that, Ms. Cao served in various position
at Philips China and Philips Singapore since 2003, including senior
tax director, tax director and senior tax manager. Prior to that,
Ms. Cao worked in Deloitte Touche Tohmatsu Certified Public
Accountants LLP from 1995 to 2003. Ms. Cao received her bachelor’s
degree in international business management from Shanghai
University of Finance and Economics in 1995. Ms. Cao is a PRC
Certified Public Accountant and a Certified Tax Agent of the
PRC.
Mr. Theng Fong Hee is a qualified advocate and
solicitor in Singapore with over 30 years of experience. Mr. Hee is
currently a consultant at Harry Elias Partnership LLP. Prior to
that, he worked in various law firms, including RHTLaw Taylor
Wessing LLP as a partner from April 2011 to June 2013. Mr. Hee sits
on the panel of various arbitration institutions, including
Singapore International Arbitration Centre, China International
Economic and Trade Arbitration Commission, Beijing Arbitration
Commission, Shanghai International Economic and Trade Arbitration
Commission, Hong Kong International Arbitration Centre, Hainan
International Arbitration Court and Asian International Arbitration
Centre. Mr. Hee is also an ambassador of Singapore International
Mediation Centre and has been an accredited mediator of Singapore
Mediation Centre since 2017. Mr. Hee serves as an independent
director of several listed companies, including Zheneng Jinjiang
Environment Holding Company Limited (SGX: BWM), Straco Corporation
Limited (SGX: S85), Yanlord Land Group Limited (SGX: Z25), China
Aviation Oil (Singapore) Corporation Ltd (SGX: G92), Haidilao
International Holding Ltd. (HKSE: 6862). Mr. Hee received his
bachelor’s degree in law from National University of Singapore in
1979 and also received a diploma in Chinese law from Soochow
University in 2004. He has been admitted as an advocate and
solicitor by The Supreme Court of Singapore since 1981.
After these changes, Huazhu’s Board is comprised of Mr. Qi Ji,
executive chairman of the Board and chief executive officer, Ms.
Min Zhang, vice chairlady of the Board, Mr. Sébastien Bazin (Mr.
Gaurav Bhushan, being the alternative director to Mr. Sébastien
Bazin), Mr. Shangzhi Zhang, Mr. John Jiong Wu, Ms. Tong Tong Zhao,
Mr. Jian Shang, Ms. Lei Cao and Mr. Theng Fong Hee.
“We would like to thank Xiaofan for her dedication and
contribution to Huazhu’s growth over the years,” commented Mr. Qi
Ji, executive chairman of the Board and chief executive officer.
“On behalf of the Board, I would like to welcome Ms. Cao and Mr.
Hee, their extensive industry expertise and experiences will be
valuable assets to the Board.”
About Huazhu Group Limited
Originated in China, Huazhu Group Limited is a world-leading
hotel operator and franchisor. As of June 30, 2020, Huazhu operated
6,187 hotels with 599,235 rooms in operation in 15 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, and Blossom House. Upon the
completion of Deutsche Hospitality acquisition on January 2, 2020,
Huazhu added 5 brands to our 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.
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 Huazhu appoints and
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 June 30,
2020, Huazhu operates 17 percent of its hotel rooms under lease and
ownership model, and 83 percent under manachise and franchise
models.
For more information, please visit the Company’s website:
http://ir.huazhu.com.
Safe Harbor Statement Under the Private Securities Litigation
Reform Act of 1995: The information in this release contains
forward-looking statements which involve risks and uncertainties,
including statements regarding the Company’s capital needs,
business strategy and expectations. 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 wrong. 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, the regulatory
environment in China, the Company’s ability to attract customers
and leverage its brands, trends and competition in the lodging
industry, the expected growth of demand for lodging in China and
other factors and risks outlined in the Company’s filings with the
SEC, including the Company’s 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 InformationInvestor RelationsTel: +86 (21) 6195
9561Email: ir@huazhu.comhttp://ir.huazhu.com
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