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RELATED PARTY TRANSACTIONS AND BALANCES

12 Months Ended

Dec. 31, 2024

RELATED PARTY TRANSACTIONS AND BALANCES

RELATED PARTY TRANSACTIONS AND BALANCES

20.RELATED PARTY TRANSACTIONS AND BALANCES

Parties are considered to be related if one party has the ability, directly or indirectly, to control the other party or exercise significant influence over the other party in making financial and operational decisions. Parties are also considered to be related if they are subject to common control or common significant influence. Related parties may be individuals or corporate entities.

The following entities are considered to be related parties to the Group. The related parties mainly act as service providers or service recipients to the Group. The Group is not obligated to provide any type of financial support to these related parties.

​

​	​	​	​	​
Related Party		Nature of the Party		Relationship with the Group
Trip.com Group Limited (“Trip.com”)		Online travel services provider		Mr. Qi Ji is a director; Shareholder of the Group
Sheen Star Group Limited (“Sheen Star”)		Investment holding company		Equity method investee of the Group, controlled by Mr. Qi Ji
China Cjia Group Limited (“Cjia Group”)		Apartment Management Group		Equity method investee of the Group
Shanghai Zhuchuang Enterprise Management Co., Ltd. (“Zhuchuang”)		Staged office space company		Equity method investee of the Group
Shanghai Lianquan Hotel Management Co., Ltd. (“Lianquan”)		Hotel management company		Equity method investee of the Group
Huamai (Guangzhou) Hotel Management Co., Ltd. (“Huamai”)	​	Hotel management company	​	Equity method investee of the Group
Azure Hospitality Fund I Limited Partnership (LLP) (“Azure”)	​	Fund	​	Equity method investee of the Group

​

(a) Related party balances

Amounts due from related parties consist of the following:

​

​	​	​	​	​
​	​	As of December 31,
​		2023		2024
Trip.com		174		284
Lianquan		45		49
Huamai	​	22	​	26
Cjia Group		9		15
Zhuchuang		14		14
Others		34		24
Allowance for expected credit losses	​	(63)	​	(64)
Total		235		348

​

Amounts due to related parties consist of the following:
​

​

​	​	​	​	​
​	​	As of December 31,
​		2023		2024
Trip.com	​	48	​	41
Cjia Group	​	16	​	14
Others	​	13	​	19
Total	​	77	​	74

​

(b) Related party transactions

During the years ended December 31, 2022, 2023 and 2024, significant related party transactions were as follows:

​

​	​	​	​	​	​	​
​	​	Years Ended December 31,
​		2022		2023		2024
Commission expenses to Trip.com	​	55		260		297
Lease expenses to Trip.com	​	19		19		19
Lease expenses to Cjia Group	​	31	​	37	​	36
Goods sold and service provided to Cjia Group	​	4	​	17		32
Service fee from Trip.com	​	93	​	112	​	146
Service fee from Sheen Star	​	4	​	5	​	—
Service fee from Azure	​	5	​	17	​	21
Sublease income from Lianquan	​	12	​	10	​	11
Sublease income from Cjia Group	​	5	​	5	​	6
Interest income from Sheen Star	​	—	​	10	​	—

​

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- Definition

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

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