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Net Revenues Revenue from Midscale and Upscale Hotels As % of Net Revenues China Lodging Group (HTHT.US) Investor Presentation September 2016 Agenda Our Vision Who We Are Lodging Landscape in China Strategic Focus Appendix 1 Our Vision We will build a world-class, great enterprise 成为世界级的伟大企业 Big Good Quality Profitable Today Today Today 3,000 hotels Value for money Leading profitability in Chinese hotel industry Goal Goal Goal The most preferred Recognized as hotel 10,000 hotels choice for any group with strong budget profit growth worldwide 2 Who We Are: Leader in Chinese Hotel Market Founded in 2005 12 brands 3,114 hotels 314,811 rooms 357 cities Upscale Upper-midscale Midscale Economy As of 6/30/2016 3 Visionary, Experienced Leadership Team • Successful serial entrepreneur • Founder, Executive Chairman of China Lodging Group (“HTHT”) • Co-founder and former CEO of Home Inns (“HMIN”) • Co-founder, former CEO and President of Ctrip.com (“CTRP”) • M.S. and B.S. from Shanghai Jiao Tong University Qi Ji • Ownership: ~ 27% of outstanding shares Founder, Executive Chairman • Joined the Company in 2007, served as President,CFO, CSO • Over 15 years of finance and consulting experience, serving as Thailand CFO for Eli Lilly before joining • M.B.A from Harvard Business School Jenny Zhang CEO 4 Significant Growth Since IPO Growth in Hotel Count Growth in Total Revenues 1 2,763 (in RMB millions) CAGR: 44% CAGR: 27% 6,111 1,995 5,265 4,421 1,124 1,425 743 3,419 550 1,035 2,386 350 639 213 2,173 3,069 3,871 4,522 4,987 2011 2012 2013 2014 2015 2011 2012 2013 2014 2015 Leased Hotels Manachised and franchised Hotels Growth in EBITDA Growth in Net Income (in RMB millions) 1,272 (in RMB millions) CAGR: 36% CAGR: 40% 970 437 842 307 563 280 377 175 115 2011 2012 2013 2014 2015 2011 2012 2013 2014 2015 1. Total revenues include revenues from leased hotels and revenues from manachised/franchised hotels. CAGR for revenues from leased hotels=23%; CAGR for revenues from manachised/franchised hotels=52% 5 Market Cap Increase Since IPO 3.5 X 6 Agenda Our Vision Who We Are Lodging Landscape in China Strategic Focus Appendix 7 Chinese Disposal Income Continues to GROW despite Slower GDP Growth GDP Growth Disposable Income per capita (USD) 9.5% CAGR: 11% 3,383 3,296 3,003 2,627 7.7% 7.7% 2,309 7.3% 6.9% 2011 2012 2013 2014 2015 2011 2012 2013 2014 2015 Source: China National Bureau of Statistics 8 HUGE Working Population in China 5.3 X 770.4 146 million VS. million Source: China National Bureau of Statistics, Goldman Sachs Research 9 Growing spending on “Fun” by Urban Mass Population Annual Income % of Personal per capita Spending on “Fun” Movers & Shakers 1.4 Million $500,000 China Urban Middle 146 Million $11,773 Expenditure on “Fun” things Urban Mass 236 Million $5,858 9.2% Vs. Rural Workers 387 Million $2,000 U.S. 17.3% “Fun” includes travelling, dining out, sports and gaming. Source: China National Bureau of Statistics, Goldman Sachs Research 10 Domestic Travel Market Remains ROBUST Domestic Travel Expenditures Growth (2007-2015) (in RMB billions) 4,000 3,500 3,000 2,500 2,000 3,420 1,500 3,031 2,628 2,271 1,000 1,931 1,258 500 777 875 1,018 0 2007 2008 2009 2010 2011 2012 2013 2014 2015 Future growth drivers: • Consumption upgrade • Increasing adoption of annual leave system: <50% entitled holiday consumed currently • High speed train network - Short distance leisure trip is a key driver for domestic travel market • Shanghai Disney will be a milestone event for 2016 and Shanghai Source: China National Tourism Administration, US Travel Association, Morgan Stanley Research 11 China’s Midscale and Economy Segments are HUGE and FRAGMENTED China independent US independent China chained US chained Luxury Upscale Midscale Future Economy Now Number of Hotels 100,000 30,000 Source: Inntie, STR, Company estimates 12 Luxury and Upscale Dominated by International Waldorf Astoria Brands Jinjiang Sofitel Hyatt BTG Jianguo Ritz-Carlton Hilton Sheraton Intercontinental Midscale Metropolo Crown Plaza by Jinjiang Mainly Local brands Holiday Inn Yitel Atour Howard Johnson Metro Park Crystal Orange Economy Jinjiang Inn Super 8 Mainly Local brands Motel 168 Home Inns 7 Days GreenTree 99 Inn Bestay 13 Significant Room for CONSOLIDATION in a Fragmented Market Consolidation has been accelerating… … but market is still highly fragmented Branded as % of total economy market China 21% Non- Branded, branded, 21% 79% 16% 13% 10% U.S. 8% 5% 4% 3% Non- Branded, branded, 70% 2% 1% 1% 30% 0% '04 '05 '06 '07 '08 '09 '10 '11 '12 '13 '14 '15 Source: CNTA, CHA, Innite, STR, Company estimates 14 There are still HUGE room for China Lodging to Grow 2009 2015 9X China China Lodging, Lodging, 2.8% Others, 0.3% Others, 99.7% 97.2% (Number of Company’s economy hotels as % of total economy hotels) Source: Innite, Company data 15 Agenda Our Vision Who We Are Lodging Landscape in China Strategic Focus Appendix 16 Our Strategic Focus • Continue INNOVATING our products • Continue FAST expansion • Further boost DIRECT sales 17 Redesign and Upgrade for HanTing Brand is Favored by Customers, … HanTing 2.0 18 … and Leads to Improved Blended RevPAR YOY Growth HanTing Brand Quarterly Blended RevPAR HanTing 2.0 Rooms as % of Total HanTing Year-over-Year Growth (Q1’15-Q2’16) Hotel Room Inventories -0.4%* 24% -0.4% 18% 17% -3.9% -4.3% -6.7% -7.4% Q1'15 Q2'15 Q3'15 Q4'15 Q1'16 Q2'16 Dec'15 Mar'16 Jun'16 * Normalized for rooms under renovation and upgrade. 19 Continue FAST Expansion To add 600~700 Hotels in 2016. 586 hotels backlog at 2016Q2 80% for economy hotels, 20% for midscale and upscale hotels Dominantly, manachised and franchised hotels 20 63% of Our Newly Opened Hotels are CONVERTED from Other Hotels 28% From new building • Taking shares from others rather than adding new capacity 63% 9% From old hotel From non hotel, old building 21 ASSET-LIGHT “Manachise” and Franchise Models Become Dominant Number of Newly Net-Added Hotels HTHT Hotel Network Breakdown by Models by Business Model (as of 6/30/2016) 768 Leased Hotels Manachised and franchised Hotels 570 20% 396 390 763 351 6% 524 275 290 340 74% 121 100 46 5 11 2012 2013 2014 2015 1H'16 Lease Manachise Franchise Note: Lease is short for “leased-and-operated” model and manachise for “managed-and-franchised” model. 22 Centralized and Innovative Operating Platform to support GROWTH Customer Proprietary Mobile E-Room Centralized Mobile Apps Cloud-based H- Service Apps Operating PMS Support • Booking; • Real time room inventory • Installed on every hotel • Online procurement • Room selection • Real-time room status staffs mobile market place • Self-check in • Real-time Yield • Real time room status • Hotel opening • Mobile payment management reporting management system • Hotel staffs resource • Centralized shared- management services 23 BETTER Operator’s Economics 61 million members 89% direct booking 80% room nights contributed by members For Q2 2016 24 REDUCED Staff-to-Room Ratio 0.25 In 2010 0.18 Now 25 INCREASING Operating Cash Flow Generation to Finance Our Expansion (in RMB millions) CAGR: 32% 1,750 1,454 1,070 716 459 2011 2012 2013 2014 2015 26 Agenda Our Vision Who We Are Lodging Landscape in China Strategic Focus Appendix 27 Same-Hotel Operational Data by Segment Number of hotels in operation Same-hotel RevPAR Same-hotel ADR Same-hotel Occupancy As of For the quarter ended For the quarter ended For the quarter ended September 30, September 30, yoy September 30, yoy September 30, yoy 2014 2015 2014 2015 change 2014 2015 change 2014 2015 change Economy hotels 1,391 1,391 173 165 -4% 181 180 -1% 95% 92% -4% Leased hotels 509 509 174 167 -4% 185 184 0% 94% 91% -4% Manachised and franchised hotels 882 882 171 164 -4% 179 177 -1% 96% 92% -4% Midscale and upscale hotels 102 102 247 263 6% 283 298 5% 87% 88% 1% Leased hotels 52 52 272 296 9% 304 324 7% 90% 92% 2% Manachised and franchised hotels 50 50 214 215 0% 252 258 2% 85% 83% -2% Total 1,493 1,493 179 173 -3% 189 190 0% 95% 91% -3% Number of hotels in operation Same-hotel RevPAR Same-hotel ADR Same-hotel Occupancy As of For the quarter ended For the quarter ended For the quarter ended December 31, December 31, yoy December 31, yoy December 31, yoy 2014 2015 2014 2015 change 2014 2015 change 2014 2015 change Economy hotels 1,491 1,491 152 145 -5% 169 167 -1% 90% 87% -3% Leased hotels 510 510 156 147 -5% 175 173 -1% 89% 85% -4% Manachised and franchised hotels 981 981 149 143 -4% 166 163 -1% 90% 87% -2% Midscale and upscale hotels 121 121 224 241 8% 270 282 5% 83% 85% 2% Leased hotels 58 58 245 276 12% 291 308 6% 84% 90% 5% Manachised and franchised hotels 63 63 195 196 0% 240 245 2% 81% 80% -2% Total 1,612 1,612 158 154 -3% 178 178 0% 89% 86% -3% Number of hotels in operation Same-hotel RevPAR Same-hotel ADR Same-hotel Occupancy As of For the quarter ended For the quarter ended For the quarter ended March 31, March 31, yoy March 31, yoy March 31, yoy 2015 2016 2015 2016 change 2015 2016 change 2015 2016 change Economy hotels 1,637 1,637 136 133 -2% 160 160 0% 85% 83% -1% Leased hotels 518 518 138 135 -2% 165 165 0% 84% 82% -2% Manachised and franchised hotels 1,119 1,119 134 132 -2% 158 157 -1% 85% 84% -1% Midscale and upscale hotels 146 146 203 221 9% 256 269 5% 79% 82% 3% Leased hotels 66 66 225 252 12% 276 293 6% 82% 86% 4% Manachised and franchised hotels 80 80 178 184 3% 232 237 2% 77% 78% 1% Total 1,783 1,783 142 142 0% 169 171 1% 84% 83% -1% Number of hotels in operation Same-hotel RevPAR Same-hotel ADR Same-hotel Occupancy As of For the quarter ended For the quarter ended For the quarter ended June 30, June 30, yoy June 30, yoy June 30, yoy 2015 2016 2015
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