SHANGHAI, China, Sept. 17, 2018 (GLOBE NEWSWIRE) -- Huazhu Group Limited (NASDAQ:HTHT) (“Huazhu” or the “Company”), a leading and fast-growing multi-brand hotel group in China, today provided updates on the investigation status of the alleged information leak.
On August 28, 2018, online reports alleged that Huazhu had become the subject of potential information leak. On the same day, Huazhu made an official announcement to the public and reported the case to the police. To comply with police protocols, Huazhu has not disclosed the status of the investigation in the past several weeks. The Company sincerely appreciates the care and attention of the public during the past several weeks.
According to the latest update from the police, the police have arrested the suspects who posted the reported message on a Dark Web forum in an attempt to sell certain data. The attempted sale was not successful. The suspects also attempted to blackmail Huazhu by leveraging public pressure, without success. Further police investigation is being conducted on the subject matter.
To comply with laws and police protocols, the Company cannot disclose additional information on the case at this time. For details of issues of public concern, including whether the allegations made on the Dark Web forum by the suspects are authentic, and whether there has been an information leak, the Company is required not to make a public announcement until the completion of the police investigation.
Huazhu is committed to ensuring the safety of customer information and continuing to provide its customers with high-quality accommodations. Huazhu once again reminds investors and the public not to believe in rumors or spread unconfirmed information.
About Huazhu Group Limited
Huazhu Group Limited is a leading hotel operator and franchisor in China. As of June 30, 2018, the Company had 3,903 hotels or 393,417 rooms in operation. With a primary focus on economy and midscale hotel segments, Huazhu’s brands include Hi Inn, HanTing Hotel, Elan Hotel, HanTing Premium Hotel, JI Hotel, Starway Hotel, Joya Hotel, Crystal Orange Hotel, Orange Hotel Select, Orange Hotel and Manxin Hotel. The Company 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.
The Company’s business includes leased and owned, manachised and franchised models. Under the lease and ownership model, the Company directly operates hotels typically located on leased or owned properties. Under the manachise model, the Company manages manachised hotels through the on-site hotel managers it appoints and collects fees from franchisees. Under the franchise model, the Company provides training, reservation and support services to the franchised hotels and collects fees from franchisees but does not appoint on-site hotel managers. The Company applies a consistent standard and platform across all of its hotels. As of June 30, 2018, Huazhu Group operates 22 percent of its hotel rooms under lease and ownership model, 78 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 the lodging market in China and other factors and risks outlined in the Company's filings with the Securities and Exchange Commission, including its 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.
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Source: Huazhu Group Limited