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INVESTMENTS

6 Months Ended

Jun. 30, 2023

INVESTMENTS.

INVESTMENTS

6.INVESTMENTS

The investments as of December 31, 2022 and June 30, 2023 were as follows:

​

​	​	​	​	​
​	​	As of
​		December 31, 2022		June 30, 2023
Short-term investments	​	​	​	​
Equity securities with readily determinable fair values:	​		​
Accor		1,701		—
Other marketable securities		87		83
Subtotal	​	1,788	​	83
Held to Maturity investments	​	​	​	​
Time deposits	​	—	​	666
Total	​	1,788	​	749
​	​	​	​	​
Long-term investments	​	​	​	​
Equity securities without readily determinable fair values:		​		​
Cjia Group-preferred shares		138		112
OYO		54		54
Other equity securities without readily determinable fair values		65		63
Subtotal	​	257	​	229
Equity-method investments:		​		​
AAPC LUB		494		458
Hotel related funds		443		422
China Hospitality JV		67		68
Zleep	​	70	​	68
Commerz Real Institute	​	80	​	85
Other investments		238		244
Subtotal	​	1,392	​	1,345
Available-for-sale debt securities:		​		​
Cjia Group-convertible notes		296		323
Held to Maturity investments	​	​	​	​
Time deposits	​	—	​	302
Total		1,945		2,199

​

Equity securities with readily determinable fair values

During the six months ended June 30, 2023, the Group sold all the Accor shares for a cash consideration of RMB2,198 with a gain of RMB516 realized upon disposal. As of June 30, 2023, the Group did not hold the shares of Accor. The Group recognized unrealized loss from fair value changes of Accor of RMB184 and nil, respectively for the six months ended June 30, 2022 and 2023.

Equity-method investments

The Group received cash dividend from AAPC LUB of RMB47 and RMB56 for the six months ended June 30, 2022 and 2023, which was recognized as return on investment. During the six months ended June 30, 2022 and 2023, the Group received RMB54 and nil cash dividend from China Hospitality JV, Ltd., which was recognized as return of investment. Among “other investments”, the Group further increased investments in Azure Hospitality Fund I Limited Partnership of RMB64 and RMB1 during the six months ended June 30, 2022 and 2023.

Held to maturity investments

Held to maturity investments represent time deposits placed in banks with original maturities over three months. The deposits with original maturities within one year are classified as short-term held to maturity investments, and those more than one year are classified as long-term held to maturity investments. Interest earned is recorded as interest income in the consolidated statements of comprehensive income during the years presented.

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The entire disclosure for investments in certain debt and equity securities.

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