Franchise & Managed Revenues was GreenTree Hospitality’s largest product and service line in fiscal 2025, bringing in $528.47M of $1.10B (48%).
| Product and Service | FY 2016 | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Continuing Franchise Fees | — | — | — | — | ||||||
| Franchise & Managed Revenues | $588.46M | $696.32M | $625.07M | $528.47M | ||||||
| Franchise & Managed Hotels Revenues | — | — | — | — | ||||||
| Franchised & Managed Hotels | — | — | — | — | ||||||
| Leased-&-Operated Hotels | $338.51M | $490.92M | $437.52M | $381.36M | ||||||
| Leased & Operated Hotels | — | — | — | — | ||||||
| Leased-&-Operated Restaurants | $362.81M | $296.89M | $159.12M | $106.81M | ||||||
| Wholesales & Others | $180.81M | $140.48M | $113.15M | $75.97M | ||||||
| Wholesale & Others | — | — | — | — | ||||||
| Initial Franchise Fee | — | — | — | — | ||||||
| Others | — | — | — | — | ||||||
| Franchised-&-Managed Restaurants | — | $8.92M | $10.29M | $5.98M | ||||||
| Intersegment Eliminations | -$1.51M | -$6.28M | -$1.71M | -$177.89K | ||||||
| Eliminations | — | — | — | — | ||||||
| Total | $1.47B | $1.63B | $1.34B | $1.10B |
GreenTree Hospitality brought in $1.10B from its six product and service lines in fiscal 2025, the year ended December 31, 2025. That was down 18.2% from $1.34B in fiscal 2024. Franchise & Managed Revenues was the largest at $528.47M (48.1%), ahead of Leased-&-Operated Hotels at $381.36M (34.7%) and Leased-&-Operated Restaurants at $106.81M (9.7%). The other two lines brought in $81.95M combined.
Compared with fiscal 2024, every line above 2% of revenue shrank. Leased-&-Operated Hotels held up best, down 12.8% to $381.36M, and Leased-&-Operated Restaurants fell the most, down 32.9% to $106.81M.
GreenTree Hospitality began breaking out Franchised-&-Managed Restaurants in fiscal 2023, when it brought in $8.92M. The total is net of Intersegment Eliminations, which took $177.89K off revenue in fiscal 2025.
Hotel was GreenTree Hospitality’s largest segment in fiscal 2025, bringing in $912.35M of $1.10B (83%).
| Segment | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|
| Hotel | $936.80M | $1.19B | $1.07B | $912.35M | |
| Hotel Business | — | — | — | — | |
| Restaurant | $533.79M | $441.64M | $278.44M | $186.25M | |
| Restaurant Business | — | — | — | — | |
| Intersegment Eliminations | — | — | — | -$177.89K | |
| Eliminations | — | — | — | — | |
| Elimination Of Intersegment Revenues | -$1.51M | -$6.28M | -$1.71M | -$177.89K | |
| Total | $1.47B | $1.63B | $1.34B | $1.10B |
GreenTree Hospitality brought in $1.10B from its four segments in fiscal 2025, the year ended December 31, 2025. GreenTree Hospitality regrouped these segments after fiscal 2024, so the total does not compare directly with that year's $1.34B. Hotel was the largest at $912.35M (83.1%), ahead of Restaurant at $186.25M (17.0%).
Compared with fiscal 2024, Hotel fell 14.5% to $912.35M and Restaurant fell 33.1% to $186.25M.
GreenTree Hospitality began breaking out Intersegment Eliminations in fiscal 2025, when it brought in -$177.89K. The total is net of Intersegment Eliminations, which took $177.89K off revenue in fiscal 2025.
As Reported was GreenTree Hospitality’s largest revenue line in fiscal 2017, bringing in $778.13M of $743.18M (105%).
| Initial Application Period Cumulative Effect Transition | FY 2017 |
|---|---|
| As Reported | $778.13M |
| Effect Of The Adoption Of New Revenue Standards | -$34.96M |
| Total | $743.18M |
GreenTree Hospitality brought in $743.18M from its two revenue lines in fiscal 2017, the year ended December 31, 2017. As Reported was the largest at $778.13M (104.7%).
The total is net of Effect Of The Adoption Of New Revenue Standards, which took $34.96M off revenue in fiscal 2017.
GreenTree Hospitality (GHG) reports its revenue by product and service, by segment and by initial application period cumulative effect transition. In fiscal 2025, Franchise & Managed Revenues was its largest product and service line, bringing in $528.47M (48.1% of the total), followed by Leased-&-Operated Hotels at $381.36M (34.7%).
Franchise & Managed Revenues was GreenTree Hospitality's largest product and service line in fiscal 2025, bringing in $528.47M, or 48.1% of the $1.10B total across its six product and service lines.
Hotel was GreenTree Hospitality's largest segment in fiscal 2025, bringing in $912.35M, or 83.1% of the $1.10B total across its four segments.
As Reported was GreenTree Hospitality's largest revenue line in fiscal 2017, bringing in $778.13M, or 104.7% of the $743.18M total across its two revenue lines.
Every figure comes from GreenTree Hospitality's annual financial filings, as reported. Each line keeps the name GreenTree Hospitality gives it, and years follow its fiscal calendar.
GreenTree Hospitality's revenue by product and service goes back to fiscal 2016, with figures through fiscal 2025. The latest four fiscal years are free to view, and the full history is available with a Business Quant subscription.