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H World Group Limited Reports Third Quarter of 2024 Unaudited Financial Results

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H World Group reported its Q3 2024 financial results with revenue increasing 2.4% year-over-year to RMB6.4 billion. The company's hotel network expanded to 10,845 hotels with 1,062,546 rooms in operation. Hotel turnover grew 10.7% year-over-year to RMB26.0 billion. Net income remained stable at RMB1.3 billion, while EBITDA was RMB2.0 billion. Legacy-Huazhu segment showed 1.0% revenue growth, while Legacy-DH segment revenue increased by 8.9%. The company opened 774 new hotels and maintains 2,925 hotels in pipeline. For Q4 2024, H World expects revenue growth of 1-5% compared to Q4 2023.

H World Group ha riportato i risultati finanziari del terzo trimestre 2024, con un aumento del fatturato del 2,4% su base annua a 6,4 miliardi di RMB. La rete alberghiera dell'azienda si è espansa a 10.845 hotel con 1.062.546 camere in operazione. Il fatturato degli hotel è cresciuto del 10,7% rispetto all'anno precedente, raggiungendo i 26,0 miliardi di RMB. Il reddito netto è rimasto stabile a 1,3 miliardi di RMB, mentre l'EBITDA è stato di 2,0 miliardi di RMB. Il segmento Legacy-Huazhu ha mostrato una crescita dei ricavi dell'1,0%, mentre il segmento Legacy-DH ha registrato un aumento del 8,9%. L'azienda ha aperto 774 nuovi hotel e mantiene 2.925 hotel in pipeline. Per il quarto trimestre del 2024, H World prevede una crescita dei ricavi dell'1-5% rispetto al quarto trimestre del 2023.

H World Group informó sus resultados financieros del tercer trimestre de 2024, con un aumento del 2,4% en los ingresos en comparación con el año anterior, alcanzando los 6,4 mil millones de RMB. La red hotelera de la compañía se expandió a 10,845 hoteles con 1,062,546 habitaciones en operación. La facturación hotelera creció un 10,7% interanual, alcanzando 26,0 mil millones de RMB. El ingreso neto se mantuvo estable en 1,3 mil millones de RMB, mientras que el EBITDA fue de 2,0 mil millones de RMB. El segmento Legacy-Huazhu mostró un crecimiento en los ingresos del 1,0%, mientras que el segmento Legacy-DH incrementó sus ingresos en un 8,9%. La empresa abrió 774 nuevos hoteles y mantiene 2,925 hoteles en su cartera. Para el cuarto trimestre de 2024, H World espera un crecimiento de ingresos del 1-5% en comparación con el cuarto trimestre de 2023.

H 월드 그룹은 2024년 3분기 재무 결과를 보고하며, 매출이 작년 대비 2.4% 증가하여 64억 위안에 달했다. 회사의 호텔 네트워크는 1,0845개 호텔과 1,062,546개 객실로 확대되었다. 호텔 매출은 전년 대비 10.7% 증가하여 260억 위안에 이르렀다. 순이익은 13억 위안으로 안정세를 유지했고, EBITDA는 20억 위안이었다. Legacy-Huazhu 부문은 1.0%의 매출 증가를 보였고, Legacy-DH 부문은 8.9%의 매출 증가를 달성하였다. 회사는 774개의 새로운 호텔을 개설하였으며, 2,925개의 호텔을 계획 중이다. 2024년 4분기에는 H 월드가 2023년 4분기 대비 1-5%의 매출 성장을 예상하고 있다.

H World Group a publié ses résultats financiers pour le troisième trimestre 2024, avec une augmentation des revenus de 2,4 % par rapport à l'année précédente pour atteindre 6,4 milliards de RMB. Le réseau hôtelier de l'entreprise s'est élargi à 10 845 hôtels avec 1 062 546 chambres en opération. Le chiffre d'affaires des hôtels a augmenté de 10,7 % par rapport à l'année précédente pour atteindre 26,0 milliards de RMB. Le bénéfice net est resté stable à 1,3 milliard de RMB, tandis que l'EBITDA s'élevait à 2,0 milliards de RMB. Le segment Legacy-Huazhu a montré une croissance des revenus de 1,0 %, tandis que le segment Legacy-DH a connu une augmentation de 8,9 %. L'entreprise a ouvert 774 nouveaux hôtels et maintient 2 925 hôtels en projet. Pour le quatrième trimestre 2024, H World prévoit une croissance du chiffre d'affaires de 1 à 5 % par rapport au quatrième trimestre 2023.

Die H World Group hat ihre finanziellen Ergebnisse für das dritte Quartal 2024 veröffentlicht, mit einem Umsatzanstieg von 2,4% im Jahresvergleich auf 6,4 Milliarden RMB. Das Hotelnetzwerk des Unternehmens erweiterte sich auf 10.845 Hotels mit 1.062.546 Zimmern in Betrieb. Der Hotelumsatz wuchs im Jahresvergleich um 10,7% auf 26,0 Milliarden RMB. Der Nettogewinn blieb stabil bei 1,3 Milliarden RMB, während das EBITDA 2,0 Milliarden RMB betrug. Der Legacy-Huazhu-Sektor zeigte ein Umsatzwachstum von 1,0%, während der Legacy-DH-Sektor um 8,9% wuchs. Das Unternehmen eröffnete 774 neue Hotels und hat 2.925 Hotels in der Pipeline. Für das 4. Quartal 2024 erwartet H World ein Umsatzwachstum von 1-5% im Vergleich zum 4. Quartal 2023.

Positive
  • Hotel network expansion with 774 new hotels opened in Q3
  • Hotel turnover increased 10.7% YoY to RMB26.0 billion
  • Revenue growth of 2.4% YoY to RMB6.4 billion
  • Strong pipeline of 2,925 unopened hotels
  • High occupancy rate maintained at 84.9% for Legacy-Huazhu
Negative
  • RevPAR declined 8% YoY in Legacy-Huazhu segment
  • Operating margin decreased to 26.7% from 30.4% YoY
  • Legacy-DH segment reported net loss of RMB83 million
  • ADR decreased to RMB301 from RMB324 YoY
  • Same-hotel RevPAR declined 10.3% YoY

Insights

The Q3 2024 results show mixed performance for H World Group. Revenue increased 2.4% year-over-year to RMB6.4 billion, meeting guidance but showing slower growth. Net income remained flat at RMB1.3 billion, while adjusted EBITDA declined from RMB2.3 billion to RMB2.1 billion.

The Legacy-Huazhu segment faces pressure with RevPAR declining 8% year-over-year, though occupancy remains strong at 84.9%. Operating margins contracted from 37.3% to 34.2% due to higher costs and share-based compensation.

The company maintains strong liquidity with RMB7.2 billion in cash and a healthy net cash position of RMB2.5 billion. Conservative Q4 guidance of 1-5% revenue growth suggests continued near-term headwinds.

H World's aggressive expansion continues with 774 new hotels opened in Q3, reaching 10,845 total properties. The pipeline remains robust with 2,925 hotels, indicating strong future growth potential despite current RevPAR pressure.

The Legacy-DH segment shows improvement with 8.9% revenue growth, though restructuring costs of RMB81 million impacted profitability. The strategic focus on APAC and Middle East expansion while reducing European costs demonstrates adaptive management.

The shift in revenue mix toward higher-margin manachised/franchised hotels (up 14.7% YoY) versus leased properties (down 4.8% YoY) supports long-term profitability, despite near-term margin pressure from expansion costs.

  • A total of 10,845 hotels or 1,062,546 hotel rooms in operation as of September 30, 2024.
  • Hotel turnover1 increased 10.7% year-over-year to RMB26.0 billion in the third quarter of 2024. Excluding Steigenberger Hotels GmbH and its subsidiaries (which are collectively referred to as Deutsche Hospitality, “DH”, or “Legacy-DH”), hotel turnover from the Legacy-Huazhu (“Huazhu”) segment increased 11.0% year-over-year in the third quarter of 2024; and hotel turnover from the Legacy-DH segment increased 7.8% year-over-year in the third quarter of 2024.
  • Revenue increased 2.4% year-over-year to RMB6.4 billion (US$918 million)2 in the third quarter of 2024, within the previously announced 2% to 5% revenue increase guidance as compared to the third quarter of 2023. Revenue from the Legacy-Huazhu segment in the third quarter of 2024 increased 1.0% year-over-year, in line with the previously announced 1% to 4% guidance; and revenue from the Legacy-DH segment in the third quarter of 2024 increased 8.9% year-over-year.
  • Net income attributable to H World Group Limited was RMB1.3 billion (US$181 million) in the third quarter of 2024, compared with RMB1.3 billion in the third quarter of 2023 and RMB1.1 billion in the previous quarter. Net income attributable to H World Group Limited from the Legacy-Huazhu segment was RMB1.4 billion in the third quarter of 2024, compared with RMB1.4 billion in the third quarter of 2023 and RMB1.0 billion in the previous quarter. Net loss attributable to H World Group Limited from the Legacy-DH segment was RMB83 million, which included RMB81 million of one-off restructuring costs, in the third quarter of 2024, compared with a net loss of RMB37 million in the third quarter of 2023 and a net income of RMB34 million in the previous quarter.
  • EBITDA (non-GAAP) in the third quarter of 2024 was RMB2.0 billion (US$286 million), compared with RMB2.1 billion in the third quarter of 2023 and RMB1.9 billion in the previous quarter.
  • Adjusted EBITDA (non-GAAP), which excluded share-based compensation expenses, gain (loss) from fair value changes of equity securities, net foreign exchange gain (loss), and gain (loss) on disposal of investments from EBITDA (non-GAAP), was RMB2.1 billion (US$300 million) in the third quarter of 2024, compared with RMB2.3 billion in the third quarter of 2023 and RMB2.0 billion in the previous quarter.
  • Adjusted EBITDA by segment is our segment measure. Adjusted EBITDA from the Legacy-Huazhu segment was RMB2.1 billion in the third quarter of 2024, compared with RMB2.3 billion in the third quarter of 2023 and RMB1.9 billion in the previous quarter. Adjusted EBITDA from the Legacy-DH segment was RMB21 million in the third quarter of 2024, compared with RMB73 million in the third quarter of 2023 and RMB131 million in the previous quarter.
  • For the fourth quarter of 2024, H World expects its revenue growth to be in the range of 1%-5% compared to the fourth quarter of 2023, and also in the range of 1%-5% excluding DH.

SINGAPORE and SHANGHAI, Nov. 26, 2024 (GLOBE NEWSWIRE) -- H World Group Limited (NASDAQ: HTHT and HKEX: 1179) (“H World”, the “Company”, “we” or “our”), a key player in the global hotel industry, today announced its unaudited financial results for the third quarter ended September 30, 2024.

As of September 30, 2024, H World’s worldwide hotel network in operation totaled 10,845 hotels and 1,062,546 rooms, including 138 hotels and 27,687 rooms from DH. During the third quarter of 2024, our Legacy-Huazhu business opened 774 hotels, including 3 leased and owned hotels, and 771 manachised and franchised hotels, and closed a total of 217 hotels, including 25 leased and owned hotels and 192 manachised and franchised hotels. As of September 30, 2024, H World had a total of 2,925 unopened hotels in the pipeline, including 2,899 hotels from the Legacy-Huazhu business and 26 hotels from the Legacy-DH business.

Legacy-Huazhu – Third Quarter of 2024 Operational Highlights

As of September 30, 2024, Legacy-Huazhu had 10,707 hotels in operation, including 570 leased and owned hotels, and 10,137 manachised and franchised hotels. In addition, as of the same date, Legacy-Huazhu had 1,034,859 hotel rooms in operation, including 83,861 rooms under the lease and ownership model, and 950,998 rooms under the manachise and franchise models. Legacy-Huazhu also had 2,899 unopened hotels in its pipeline, including 6 leased and owned hotels, and 2,893 manachised and franchised hotels. The following discusses Legacy-Huazhu’s revenue per available room (“RevPAR”), average daily room rate (“ADR”) and occupancy rate for leased and owned Huazhu hotels, as well as manachised and franchised Huazhu hotels for the periods indicated.

  • The ADR was RMB301 in the third quarter of 2024, compared with RMB324 in the third quarter of 2023 and RMB296 in the previous quarter.
  • The occupancy rate for all the Legacy-Huazhu hotels in operation was 84.9% in the third quarter of 2024, compared with 85.9% in the third quarter of 2023 and 82.6% in the previous quarter.
  • Blended RevPAR was RMB256 in the third quarter of 2024, compared with RMB278 in the third quarter of 2023 and RMB244 in the previous quarter.
  • For all the Legacy-Huazhu hotels which had been in operation for at least 18 months, the same-hotel RevPAR was RMB258 in the third quarter of 2024, representing a 10.3% decline from RMB288 in the third quarter of 2023, with an 8.4% decrease in same-hotel ADR and a 1.8 percentage-point decrease in same-hotel occupancy rate.

Legacy-DH – Third Quarter of 2024 Operational Highlights

As of September 30, 2024, Legacy-DH had 138 hotels in operation, including 77 leased hotels, and 61 manachised and franchised hotels. In addition, as of the same date, Legacy-DH had 27,687 hotel rooms in operation, including 15,700 rooms under the lease model, and 11,987 rooms under the manachise and franchise models. Legacy-DH also had 26 unopened hotels in the pipeline, including 12 leased hotels and 14 manachised and franchised hotels. The following discusses Legacy-DH’s RevPAR, ADR and occupancy rate for leased as well as manachised and franchised DH hotels (excluding hotels temporarily closed) for the periods indicated. 

  • The ADR was EUR117 in the third quarter of 2024, compared with EUR114 in the third quarter of 2023 and EUR120 in the previous quarter.
  • The occupancy rate for all Legacy-DH hotels in operation was 69.8% in the third quarter of 2024, compared with 69.0% in the third quarter of 2023 and 68.3% in the previous quarter.
  • Blended RevPAR was EUR82 in the third quarter of 2024, compared with EUR79 in the third quarter of 2023 and EUR82 in the previous quarter.

Jin Hui, CEO of H World commented: “After reaching the milestone of 10,000 hotels in the second quarter, we continued our fast-paced, high-quality network growth and opened 774 new hotels in China in the third quarter of 2024. This quarter, Legacy-Huazhu’s blended RevPAR declined by 8% year-over-year primarily due to a high ADR base in the same period last year and unfavorable weather. Our occupancy rate remained solid at 85% despite our ongoing rapid hotel network expansion. Going forward, we will continue to emphasize the importance of sustainable high-quality growth. We aim to expand our presence across all regions and continue penetrating into lower-tier cities in China, thereby reaching more of China’s hotel market with our high-quality hotel products with excellent services.”

“Regarding our business outside China, our Legacy-DH business recorded a 3.7% year-over-year blended RevPAR increase in the third quarter of 2024. We continued focusing on cost reduction in our European business, while at the same time seeking growth opportunities in the Asia-Pacific (APAC) and in the Middle East areas.”

Third Quarter of 2024 Unaudited Financial Results

(RMB in millions)Q3 2023Q2 2024Q3 2024
Revenue:   
Leased and owned hotels3,8783,6813,690
Manachised and franchised hotels2,2682,3342,602
Others142133150
Total revenue 6,288 6,148 6,442
 

Revenue in the third quarter of 2024 was RMB6.4 billion (US$918 million), representing a 2.4% year-over-year increase and a 4.8% quarter-over-quarter increase. Revenue from the Legacy-Huazhu segment in the third quarter of 2024 was RMB5.2 billion, representing a 1.0% year-over-year increase and a 6.9% quarter-over-quarter increase. Our year-over-year revenue growth rate was negatively affected by our selected closures of several underperforming leased and owned hotels, as well as the decline in RevPAR. Revenue from the Legacy-DH segment in the third quarter of 2024 was RMB1.3 billion, representing an 8.9% year-over-year increase and a 3.0% quarter-over-quarter decrease. The year-over-year increase was attributable to both business recovery and our network expansion.

Revenue from leased and owned hotels in the third quarter of 2024 was RMB3.7 billion (US$526 million), representing a 4.8% year-over-year decrease and a 0.2% quarter-over-quarter increase. Revenue from leased and owned hotels from the Legacy-Huazhu segment in the third quarter of 2024 was RMB2.5 billion, representing a 10.4% year-over-year decrease, due mainly to our selected closures of several underperforming leased and owned hotels in operation. Revenue from leased hotels from the Legacy-DH segment in the third quarter of 2024 was RMB1.2 billion, representing an 8.8% year-over-year increase.

Revenue from manachised and franchised hotels in the third quarter of 2024 was RMB2.6 billion (US$371 million), representing a 14.7% year-over-year increase and an 11.5% quarter-over-quarter increase. Revenue from manachised and franchised hotels from the Legacy-Huazhu segment in the third quarter of 2024 was RMB2.6 billion, representing a 14.7% year-over-year increase, driven by our hotel network expansion. Revenue from manachised and franchised hotels from the Legacy-DH segment in the third quarter of 2024 was RMB34 million, representing a 13.3% year-over-year increase.

Other revenue represents revenue generated from businesses other than our hotel operations, which mainly includes revenue from the provision of IT products and services, as well as Huazhu Mall™ and other revenue from the Legacy-DH segment, totaling RMB150 million (US$21 million) in the third quarter of 2024, compared to RMB142 million in the third quarter of 2023 and RMB133 million in the previous quarter.



(RMB in millions)		Q3 2023Q2 2024Q3 2024
Operating costs and expenses:   
Hotel operating costs(3,613)(3,731)(3,799)
Other operating costs(7)(6)(11)
Selling and marketing expenses(289)(317)(303)
General and administrative expenses(539)(602)(672)
Pre-opening expenses(11)(19)(19)
Total operating costs and expenses (4,459) (4,675) (4,804)
 

Hotel operating costs in the third quarter of 2024 were RMB3.8 billion (US$541 million), compared to RMB3.6 billion in the third quarter of 2023 and RMB3.7 billion in the previous quarter. The year-over-year increase was mainly due to rising personnel costs as our hotel network continues to expand. Hotel operating costs from the Legacy-Huazhu segment in the third quarter of 2024 were RMB2.8 billion, which represented 54.3% of the quarter’s Huazhu revenue, compared to RMB2.7 billion or 52.0% of Huazhu revenue in the third quarter of 2023 and RMB2.7 billion or 56.7% in the previous quarter. Hotel operating costs from the Legacy-DH segment in the third quarter of 2024 were RMB996 million, which represented 77.8% of DH revenue, compared to RMB953 million or 81.1% of DH revenue in the third quarter of 2023, and RMB995 million or 75.4% in the previous quarter.

Selling and marketing expenses in the third quarter of 2024 were RMB303 million (US$43 million), compared to RMB289 million in the third quarter of 2023 and RMB317 million in the previous quarter. Selling and marketing expenses from the Legacy-Huazhu segment in the third quarter of 2024 were RMB186 million, which represented 3.6% of this quarter’s Huazhu revenue, compared to RMB177 million or 3.5% of Huazhu revenue in the third quarter of 2023, and RMB193 million or 4.0% for the previous quarter. Selling and marketing expenses from the Legacy-DH segment in the third quarter of 2024 were RMB117 million, which represented 9.1% of revenue, compared to RMB112 million or 9.5% of DH revenue in the third quarter of 2023, and RMB124 million or 9.4% for the previous quarter.

General and administrative expenses in the third quarter of 2024 were RMB672 million (US$96 million), compared to RMB539 million in the third quarter of 2023 and RMB602 million in the previous quarter. General and administrative expenses from the Legacy-Huazhu segment in the third quarter of 2024 were RMB457 million, which represented 8.9% of this quarter’s Huazhu revenue, compared to RMB417 million or 8.2% of Huazhu revenue in the third quarter of 2023 and RMB483 million or 10.0% of Huazhu revenue in the previous quarter. The year-over-year expense increase was mainly due to rising headcount as well as an increase in share-based compensation to attract and retain core employees who are key to our sustainable long-term business growth. General and administrative expenses from the Legacy-DH segment in the third quarter of 2024 were RMB215 million, which represented 16.8% of DH revenue, compared to RMB122 million or 10.4% of DH revenue in the third quarter of 2023 and RMB119 million or 9.0% in the previous quarter. The year-over-year and quarter-over-quarter DH expense increase was primarily due to one-off DH restructuring costs of RMB81 million.

Pre-opening expenses in the third quarter of 2024 were primarily related to the Legacy-Huazhu segment and totaled RMB19 million (US$3 million), compared to RMB11 million in the third quarter of 2023 and RMB19 million in the previous quarter.

Other operating income, net in the third quarter of 2024 was RMB85 million (US$12 million), compared to RMB80 million in the third quarter of 2023 and RMB99 million in the previous quarter.

Income from operations in the third quarter of 2024 was RMB1.7 billion (US$245 million), compared RMB1.9 billion in the third quarter of 2023 and RMB1.6 billion in the previous quarter. Income from operations from the Legacy-Huazhu segment in the third quarter of 2024 was RMB1.8 billion, compared to RMB1.9 billion in the third quarter of 2023 and RMB1.5 billion in the previous quarter. After the one-off restructuring costs of RMB81 million mentioned above, Legacy-DH segment had a loss from operations of RMB40 million in the third quarter of 2024, compared to income of RMB3 million in the third quarter of 2023 and RMB73 million in the previous quarter.

Operating margin, defined as income from operations as a percentage of revenue, was 26.7% in the third quarter of 2024, compared with 30.4% in the third quarter of 2023 and 25.6% for the previous quarter. Operating margin from the Legacy-Huazhu segment in the third quarter of 2024 was 34.2%, compared with 37.3% in the third quarter of 2023 and 31.0% in the previous quarter. The year-over-year margin contraction was mainly due to the decline in hotel RevPAR from a high base last year, and the increase in share-based compensation mentioned above. Operating margin from the Legacy-DH segment in the third quarter of 2024 was a negative 3.1%, compared with a positive 0.3% in the third quarter of 2023 and a positive 5.5% in the previous quarter. The margin contraction was due primarily to the one-off restructuring costs.

Other income, net in the third quarter of 2024 was RMB1 million, compared to RMB24 million in the third quarter of 2023 and RMB24 million in the previous quarter.

Losses from fair value changes of equity securities in the third quarter of 2024 were RMB34 million (US$5 million), compared to RMB9 million in the third quarter of 2023, and RMB51 million in the previous quarter. Losses from fair value changes of equity securities mainly represent the unrealized losses from our investments in equity securities with readily determinable fair values.

Income tax expense in the third quarter of 2024 was RMB382 million (US$54 million), compared to RMB421 million in the third quarter of 2023 and RMB423 million in the previous quarter.

Net income attributable to H World Group Limited in the third quarter of 2024 was RMB1.3 billion (US$181 million), compared with RMB1.3 billion in the third quarter of 2023 and RMB1.1 billion in the previous quarter. Net income attributable to H World Group Limited from the Legacy-Huazhu segment was RMB1.4 billion in the third quarter of 2024, compared with RMB1.4 billion in the third quarter of 2023 and RMB1.0 billion in the previous quarter. Net loss attributable to H World Group Limited from the Legacy-DH segment was RMB83 million, which included RMB81 million of one-off restructuring costs, in the third quarter of 2024, compared with a net loss of RMB37 million in the third quarter of 2023 and a net income of RMB34 million in the previous quarter.

EBITDA (non-GAAP) in the third quarter of 2024 was RMB2.0 billion (US$286 million), compared with RMB2.1 billion in the third quarter of 2023 and RMB1.9 billion in the previous quarter.

Adjusted EBITDA (non-GAAP), which excluded share-based compensation expenses, gain (loss) from fair value changes of equity securities, net foreign exchange gain (loss), and gain (loss) on disposal of investments from EBITDA (non-GAAP), was RMB2.1 billion (US$300 million) in the third quarter of 2024, compared with RMB2.3 billion in the third quarter of 2023 and RMB2.0 billion in the previous quarter. Adjusted EBITDA from the Legacy-Huazhu segment, which is a segment measure, was RMB2.1 billion in the third quarter of 2024, compared with RMB2.3 billion in the third quarter of 2023 and RMB1.9 billion in the previous quarter. Adjusted EBITDA from the Legacy-DH segment, which is a segment measure, was RMB21 million in the third quarter of 2024, compared with RMB73 million in the third quarter of 2023 and RMB131 million in the previous quarter.

To better reflect the profitability of our core business, we have redefined the non-GAAP measure of adjusted EBITDA, and therefore the above adjusted EBITDA for the third quarter of 2023 has been restated.

Cash flow. Operating cash inflow in the third quarter of 2024 was RMB1.7 billion (US$242 million). Investing cash inflow in the third quarter of 2024 was RMB166 million (US$23 million). Financing cash outflow in the third quarter of 2024 was RMB2.1 billion (US$300 million), including RMB1.4 billion of dividends paid.

Cash, cash equivalents and restricted cash. As of September 30, 2024, the Company had a total balance of cash and cash equivalents of RMB7.2 billion (US$1.0 billion) and restricted cash of RMB693 million (US$98 million).

Debt financing. As of September 30, 2024, the Company had a total debt and net cash balance of RMB5.4 billion (US$769 million) and RMB2.5 billion (US$362 million), respectively; the unutilized credit facility available to the Company was RMB3.6 billion.

Guidance
For the fourth quarter of 2024, H World expects its revenue growth to be in the range of 1%-5% compared to the fourth quarter of 2023, and also in the range of 1%-5% excluding DH.

The above forecast reflects the Company’s current and preliminary view, which is subject to change.

Conference Call
H World’s management will host a conference call at 8 p.m. U.S. Eastern time on Tuesday, November 26, 2024 (9 a.m. Hong Kong time on Wednesday, November 27, 2024) following the announcement.

To join by phone, all participants must pre-register this conference call using the Participant Registration link of https://register.vevent.com/register/BI7e6f2fa9b90d4da380448e7718662186. Upon registration, each participant will receive details for the conference call, including dial-in numbers, conference call passcode and a unique access PIN.

A live webcast of the call can be accessed at https://edge.media-server.com/mmc/p/fk25qthx or the Company’s website at https://ir.hworld.com/news-and-events/events-calendar.

A replay of the conference call will be available for twelve months from the date of the conference at the Company’s website, https://ir.hworld.com/news-and-events/events-calendar.

Use of Non-GAAP Financial Measures
To supplement the Company’s unaudited consolidated financial results presented in accordance with U.S. Generally-Accepted Accounting Principles (“GAAP”), the Company uses the following non-GAAP measures defined as non-GAAP financial measures by the U.S. Securities and Exchange Commission (“SEC”): adjusted net income (loss) attributable to H World Group Limited excluding share-based compensation expenses, gain (loss) from fair value changes of equity securities, foreign exchange gain (loss), net and gain (loss) on disposal of investments; adjusted basic and diluted earnings (losses) per share/ADS excluding share-based compensation expenses, gain (loss) from fair value changes of equity securities, foreign exchange gain (loss), net and gain (loss) on disposal of investments; EBITDA; adjusted EBITDA excluding share-based compensation expenses, gain (loss) from fair value changes of equity securities, foreign exchange gain (loss), net and gain (loss) on disposal of investments. The presentation of these non-GAAP financial measures is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with U.S. GAAP. For more information on these non-GAAP financial measures, please see the table captioned “Unaudited Reconciliations of GAAP and non-GAAP Results” set forth at the end of this release. The Company believes that these non-GAAP financial measures provide meaningful supplemental information regarding Company performance by excluding share-based compensation expenses, gain (loss) from fair value changes of equity securities, foreign exchange gain (loss), net and gain (loss) on disposal of investments that may not be indicative of Company operating performance. The Company believes that both management and investors benefit from referring to these non-GAAP financial measures in assessing Company performance and when planning and forecasting future periods. These non-GAAP financial measures also facilitate management’s internal comparisons to the Company’s historical performance. The Company believes these non-GAAP financial measures are also useful to investors in allowing for greater transparency with respect to supplemental information used regularly by Company management in financial and operational decision-making. A limitation of using non-GAAP financial measures excluding share-based compensation expenses, gain (loss) from fair value changes of equity securities, foreign exchange gain (loss), net and gain (loss) on disposal of investments is that share-based compensation expenses, gain (loss) from fair value changes of equity securities, foreign exchange gain (loss), net and gain (loss) on disposal of investments have been and may continue to be significant and recurring in the Company’s business. Management compensates for these limitations by providing specific information regarding the GAAP amounts excluded from each non-GAAP measure. The accompanying tables have more details on the reconciliations between GAAP financial measures that are most directly comparable to non-GAAP financial measures.

The Company believes that EBITDA is a useful financial metric to assess the operating and financial performance before the impact of investing and financing transactions and income taxes, given the significant investments that the Company has made in leasehold improvements, depreciation and amortization expense that comprise a significant portion of the Company’s cost structure. In addition, the Company believes that EBITDA is widely used by other companies in the lodging industry and may be used by investors as a measure of financial performance. The Company believes that EBITDA information provides investors with a useful tool for comparability between periods because it excludes depreciation and amortization expense attributable to capital expenditures. The Company also uses adjusted EBITDA to assess operating results of its hotels in operation. The Company believes that the exclusion of share-based compensation expenses, gain (loss) from fair value changes of equity securities, foreign exchange gain (loss), net and gain (loss) on disposal of investments helps facilitate year-over-year comparisons of the results of operations as the share-based compensation expenses, gain (loss) from fair value changes of equity securities, foreign exchange gain (loss), net and gain (loss) on disposal of investments may not be indicative of Company operating performance.

Therefore, the Company believes adjusted EBITDA more closely reflects the financial performance capability of our hotels. The presentation of EBITDA and adjusted EBITDA should not be construed as an indication that the Company’s future results will be unaffected by other charges and gains considered to be outside the ordinary course of business.

The use of EBITDA and adjusted EBITDA has certain limitations. Depreciation and amortization expense for various long-term assets (including land use rights), income tax, interest expense and interest income have been and will be incurred and are not reflected in the presentation of EBITDA. Share-based compensation expenses, gain (loss) from fair value changes of equity securities, foreign exchange gain (loss), net and gain (loss) on disposal of investments have been and will be incurred and are not reflected in the presentation of adjusted EBITDA. Each of these items should also be considered in the overall evaluation of the results. The Company compensates for these limitations by providing the relevant disclosure of depreciation and amortization, interest income, interest expense, income tax expense, share-based compensation expenses, gain (loss) from fair value changes of equity securities, foreign exchange gain (loss), net and gain (loss) on disposal of investments all in the reconciliations to the U.S. GAAP financial measures and in the consolidated financial statements, all of which should be considered when evaluating the performance of the Company.

The terms EBITDA and adjusted EBITDA are not defined under U.S. GAAP, and neither EBITDA nor adjusted EBITDA is a measure of net income, operating income, operating performance or liquidity presented in accordance with U.S. GAAP. When assessing the operating and financial performance, investors should not consider these data in isolation or as a substitute for the Company’s net income, operating income or any other operating performance measure that is calculated in accordance with U.S. GAAP. In addition, the Company’s EBITDA or adjusted EBITDA may not be comparable to EBITDA or adjusted EBITDA or similarly titled measures utilized by other companies since such other companies may not calculate EBITDA or adjusted EBITDA in the same manner as the Company does.

Reconciliations of the Company’s non-GAAP financial measures, including EBITDA and adjusted EBITDA, to the consolidated statement of operations information are included at the end of this press release.

About H World Group Limited
Originated in China, H World Group Limited is a key player in the global hotel industry. As of September 30, 2024, H World operated 10,845 hotels with 1,062,546 rooms in operation in 18 countries. H World’s brands include Hi Inn, Elan Hotel, HanTing Hotel, JI Hotel, Starway Hotel, Orange Hotel, Crystal Orange Hotel, Manxin Hotel, Madison Hotel, Joya Hotel, Blossom House, Ni Hao Hotel, CitiGO Hotel, Steigenberger Hotels & Resorts, MAXX, Jaz in the City, IntercityHotel, Zleep Hotels, Steigenberger Icon and Song Hotels. In addition, H World 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.

H World’s business includes leased and owned, manachised and franchised models. Under the lease and ownership model, H World directly operates hotels typically located on leased or owned properties. Under the manachise model, H World manages manachised hotels through the on-site hotel managers that H World appoints, and H World collects fees from franchisees. Under the franchise model, H World provides training, reservations and support services to the franchised hotels, and collects fees from franchisees but does not appoint on-site hotel managers. H World applies a consistent standard and platform across all of its hotels. As of September 30, 2024, H World operated 9 percent of its hotel rooms under the lease and ownership model, and 91 percent under the manachise and franchise model.

For more information, please visit H World’s website: https://ir.hworld.com.

Safe Harbor Statement Under the U.S. Private Securities Litigation Reform Act of 1995: The information in this release contains forward-looking statements which involve risks and uncertainties. Such factors and risks include our anticipated growth strategies; our future results of operations and financial condition; economic conditions; the regulatory environment; our ability to attract and retain customers and leverage our brands; trends and competition in the lodging industry; the expected growth of demand for lodging; and other factors and risks detailed in our filings with the U.S. Securities and Exchange Commission. 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.

H World undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, unless required by applicable law.

—Financial Tables and Operational Data—


H World Group Limited
Unaudited Condensed Consolidated Balance Sheets
 December 31,
2023 		 September 30,
2024
 RMB  RMB
 US$3
 (in millions)
ASSETS   
Current assets:   
Cash and cash equivalents6,946  7,247  1,033 
Restricted cash764  693  98 
Short-term investments2,189  735  105 
Accounts receivable, net755  863  123 
Loan receivables, net184  149  21 
Amounts due from related parties, current210  276  39 
Inventories59  63  9 
Other current assets, net949  856  122 
Total current assets12,056  10,882  1,550 
    
Property and equipment, net6,097  5,971  851 
Intangible assets, net5,280  5,302  756 
Operating lease right-of-use assets25,658  25,691  3,661 
Finance lease right-of-use assets2,171  2,306  329 
Land use rights, net181  176  25 
Long-term investments2,564  2,427  346 
Goodwill5,318  5,309  756 
Amounts due from related parties, non-current25  26  4 
Loan receivables, net163  180  26 
Other assets, net663  689  97 
Deferred tax assets1,043  1,031  147 
Assets held for sale2,313  2,049  292 
Total assets63,532  62,039  8,840 
    
LIABILITIES AND EQUITY   
Current liabilities:   
Short-term debt4,049  892  128 
Accounts payable1,019  1,026  146 
Amounts due to related parties77  90  13 
Salary and welfare payables1,067  719  102 
Deferred revenue1,637  1,812  258 
Operating lease liabilities, current3,609  3,483  496 
Finance lease liabilities, current45  50  7 
Accrued expenses and other current liabilities3,261  3,394  484 
Dividends payable2,085  0  0 
Income tax payable562  942  134 
Total current liabilities17,411  12,408  1,768 
    
Long-term debt1,265  4,499  641 
Operating lease liabilities, non-current24,215  24,240  3,454 
Finance lease liabilities, non-current2,697  2,886  411 
Deferred revenue1,072  1,285  183 
Other long-term liabilities1,118  1,387  199 
Deferred tax liabilities845  817  116 
Retirement benefit obligations124  122  17 
Liabilities held for sale2,536  2,179  311 
Total liabilities51,283  49,823  7,100 
    
Equity:   
Ordinary shares0  0  0 
Treasury shares(906) (2,787) (397)
Additional paid-in capital11,861  12,060  1,718 
Retained earnings794  2,400  342 
Accumulated other comprehensive income386  459  65 
Total H World Group Limited shareholders' equity12,135  12,132  1,728 
Noncontrolling interest114  84  12 
Total equity12,249  12,216  1,740 
Total liabilities and equity63,532  62,039  8,840 


H World Group Limited
Unaudited Condensed Consolidated Statements of Comprehensive Income
 Quarter Ended
 September 30,
2023
 June 30,
2024
 September 30,
2024
 RMB
 RMB
 RMB
  US$
 (in millions, except shares, per share and per ADS data)
Revenue:    
Leased and owned hotels3,878  3,681  3,690  526 
Manachised and franchised hotels2,268  2,334  2,602  371 
Others142  133  150  21 
Total revenue6,288  6,148  6,442  918 
     
Operating costs and expenses:    
Hotel operating costs:    
Rents(1,118) (1,091) (1,088) (155)
Utilities(185) (149) (194) (28)
Personnel costs(1,186) (1,337) (1,371) (195)
Depreciation and amortization(330) (315) (315) (45)
Consumables, food and beverage(353) (327) (337) (48)
Others(441) (512) (494) (70)
Total hotel operating costs(3,613) (3,731) (3,799) (541)
Other operating costs(7) (6) (11) (2)
Selling and marketing expenses(289) (317) (303) (43)
General and administrative expenses(539) (602) (672) (96)
Pre-opening expenses(11) (19) (19) (3)
Total operating costs and expenses(4,459) (4,675) (4,804) (685)
Other operating income (expense), net80  99  85  12 
Income (loss) from operations1,909  1,572  1,723  245 
Interest income62  56  50  7 
Interest expense(85) (84) (77) (11)
Other income (expense), net24  24  1  0 
Gains (losses) from fair value changes of equity securities(9) (51) (34) (5)
Foreign exchange gains (losses)(148) (24) (1) (0)
Income (loss) before income taxes1,753  1,493  1,662  236 
Income tax (expense) benefit(421) (423) (382) (54)
Income (Loss) from equity method investments20  12  12  2 
Net income (loss)1,352  1,082  1,292  184 
Net (income) loss attributable to noncontrolling interest(15) (15) (19) (3)
Net income (loss) attributable to H World Group Limited1,337  1,067  1,273  181 
     
Gains(losses) from fair value changes of debt securities, net of tax-  (25) -  - 
Foreign currency translation adjustments, net of tax(24) 1  128  18 
Comprehensive income (loss)1,328  1,058  1,420  202 
Comprehensive (income) loss attributable to noncontrolling interest(15) (15) (19) (3)
Comprehensive income (loss) attributable to H World Group Limited1,313  1,043  1,401  199 
     
Earnings (Losses) per share:    
Basic0.42  0.34  0.41  0.06 
Diluted0.41  0.33  0.40  0.06 
     
Earnings (Losses) per ADS:    
Basic4.19  3.40  4.10  0.58 
Diluted4.07  3.32  3.99  0.57 
     
Weighted average number of shares used in computation:  
Basic3,188,274,127  3,137,722,145  3,102,868,424  3,102,868,424 
Diluted3,355,586,429  3,303,934,814  3,257,589,866  3,257,589,866 


H World Group Limited
Unaudited Condensed Consolidated Statements of Cash Flows
 Quarter Ended
 September 30,
2023
 June 30,
2024
 September 30,
2024
 RMB
 RMB
 RMB
 US$
 (in millions)
Operating activities:    
Net income (loss)1,352  1,082  1,292  184 
     
Share-based compensation44  112  79  11 
Depreciation and amortization, and other358  337  329  47 
Impairment loss5  36  32  5 
Loss (Income) from equity method investments, net of dividends(18) 30  (9) (1)
Investment (income) loss and foreign exchange (gain) loss167  41  (15) (2)
Changes in operating assets and liabilities(583) 750  43  6 
Other(144) (153) (58) (8)
Net cash provided by (used in) operating activities1,181  2,235  1,693  242 
     
Investing activities:    
Capital expenditures(196) (203) (209) (30)
Purchase of investments(1,846) (632) (32) (5)
Proceeds from maturity/sale and return of investments-  1,139  406  58 
Loan advances(48) (12) (75) (11)
Loan collections39  53  65  9 
Other2  1  11  2 
Net cash provided by (used in) investing activities(2,049) 346  166  23 
     
Financing activities:    
Payment of share repurchase-  (132) (496) (71)
Proceeds from debt71  53  29  4 
Repayment of debt(666) (292) (135) (19)
Dividend paid-  -  (1,389) (198)
Purchase of prepaid put option-  (710) 0  0 
Other(18) (24) (113) (16)
Net cash provided by (used in) financing activities(613) (1,105) (2,104) (300)
     
Effect of exchange rate changes on cash, cash equivalents and restricted cash(59) 10  16  2 
Net increase (decrease) in cash, cash equivalents and restricted cash(1,540) 1,486  (229) (33)
Less: net increase (decrease) in cash and cash equivalents classified within assets held for sale-  (15) (4) (1)
Cash, cash equivalents and restricted cash at the beginning of the period7,836  6,664  8,165  1,163 
Cash, cash equivalents and restricted cash at the end of the period6,296  8,165  7,940  1,131 


H World Group Limited
Unaudited Reconciliation of GAAP and Non-GAAP Results
 Quarter Ended
 September 30,
2023
 June 30,
2024
 September 30,
2024
 RMB
 RMB
 RMB
 US$
 (in millions, except shares, per share and per ADS data)
Net income (loss) attributable to H World Group Limited (GAAP)1,337  1,067  1,273  181 
Share-based compensation expenses44  112  79  11 
(Gain) loss from fair value changes of equity securities9  51  34  5 
Foreign exchange (gain) loss, net148  24  1  0 
(Gain) loss on disposal of investments-  -  (15) (2)
Adjusted net income attributable to H World Group Limited (non-GAAP)1,538  1,254  1,372  195 
     
     
Adjusted earnings (losses) per share (non-GAAP)  
Basic0.48  0.40  0.44  0.06 
Diluted0.47  0.39  0.43  0.06 
     
Adjusted earnings (losses) per ADS (non-GAAP)
Basic4.82  3.99  4.42  0.63 
Diluted4.67  3.88  4.29  0.61 
     
Weighted average number of shares used in computation  
Basic3,188,274,127  3,137,722,145  3,102,868,424  3,102,868,424 
Diluted3,355,586,429  3,303,934,814  3,257,589,866  3,257,589,866 
 
     
 Quarter Ended
 September 30,
2023		June 30,
2024		September 30,
2024
 RMBRMBRMBUS$
 (in millions, except per share and per ADS data)
Net income (loss) attributable to H World Group Limited (GAAP) 1,337    1,067    1,273    181  
Interest income(62) (56) (50) (7)
Interest expense85  84  77  11 
Income tax expense421  423  382  54 
Depreciation and amortization352  335  332  47 
EBITDA (non-GAAP) 2,133    1,853   2,014    286  
Share-based compensation44  112  79  11 
(Gain) loss from fair value changes of equity securities9  51  34  5 
Foreign exchange (gain) loss, net148  24  1  0 
(Gain) loss on disposal of investments-  -  (15) (2)
Adjusted EBITDA (non-GAAP)2,334   2,040   2,113    300  


H World Group Limited
Segment Financial Summary
  Quarter Ended
September 30, 2023		 Quarter Ended
June 30, 2024
 Quarter Ended
September 30, 2024
 Legacy- Huazhu Legacy- DH Legacy- Huazhu Legacy- DH Legacy- Huazhu Legacy- DH
 RMB RMB RMB RMB RMB RMB
  (in millions) (in millions) (in millions)
Leased and owned hotels2,748 1,130 2,395 1,286 2,461 1,229
Manachised and franchised hotels2,238 30 2,305 29 2,568 34
Others127 15 128 5 133 17
Revenue 5,113  1,175   4,828   1,320   5,162   1,280
            
Depreciation and amortization286 66 279 56 271 61
Adjusted EBITDA2,261  73   1,909  131  2,092  21
 

Operating Results: Legacy-Huazhu(1)

 Number of hotels 　Number of rooms
 Opened
in Q3 2024
Closed (2)
in Q3 2024
Net added
in Q3 2024
As of
September 30,
2024
　As of
September 30,
2024
 　
Leased and owned hotels3(25)(22)570 83,861
Manachised and franchised hotels771(192)579 10,137 950,998
Total 774 (217) 557   10,707   1,034,859
(1) Legacy-Huazhu refers to H World and its subsidiaries, excluding DH.
(2) The reasons for hotel closures mainly included non-compliance with our brand standards, operating losses, and property-related issues. In Q3 2024, we temporarily closed 12 hotels for brand upgrade or business model change purposes.


 As of September 30, 2024
 Number of hotels Unopened hotels in pipeline
Economy hotels5,4421,082
Leased and owned hotels2920
Manachised and franchised hotels5,1501,082
Midscale, upper-midscale hotels and others5,2651,817
Leased and owned hotels2786
Manachised and franchised hotels4,9871,811
Total10,7072,899


 For the quarter ended 
 September 30,June 30,September 30,yoy
 202320242024change
Average daily room rate (in RMB)    
Leased and owned hotels406 375 381 -6.0%
Manachised and franchised hotels314 288 294 -6.4%
Blended324 296 301 -7.0%
Occupancy rate (as a percentage)    
Leased and owned hotels87.8%85.6%87.4%-0.3 p.p.
Manachised and franchised hotels85.7%82.3%84.6%-1.0 p.p.
Blended85.9%82.6%84.9%-1.0 p.p.
RevPAR (in RMB)    
Leased and owned hotels356 321 333 -6.4%
Manachised and franchised hotels269 237 249 -7.6%
Blended278 244 256 -8.1%


Same-hotel operational data by class        
Mature hotels in operation for more than 18 months
 Number of hotelsSame-hotel RevPARSame-hotel ADRSame-hotel Occupancy
 As of
September 30,
For the quarter yoyFor the quarter yoyFor the quarter yoy
 ended
September 30,		changeended
September 30,		changeended
September 30,		change
 2023202420232024 20232024 2023 2024 (p.p.)
Economy hotels 3,764 3,764 222 197 -11.0% 250 228 -8.8%88.5%86.4%-2.1
Leased and owned hotels283283271242-10.7%302271-10.3%89.8%89.4%-0.4
Manachised and franchised hotels3,4813,481216192-11.0%244223-8.6%88.4%86.0%-2.4
Midscale, upper-midscale hotels and others 3,271 3,271 344 310 -9.9% 398 365 -8.3%86.4%84.9%-1.5
Leased and owned hotels257257440402-8.6%506465-8.0%87.0%86.4%-0.6
Manachised and franchised hotels3,0143,014331298-10.1%384351-8.4%86.4%84.7%-1.6
Total 7,035 7,035 288 258 -10.3% 329 301 -8.4%87.4%85.6%-1.8
                

Operating Results: Legacy-DH(3)

 Number of hotels　Number of rooms Unopened hotels in pipeline
 Opened
in Q3 2024
Closed
in Q3 2024
Net added
in Q3 2024
As of
September 30, 2024(4)
　

As of
September 30, 2024
 As of
September 30, 2024
Leased hotels-(10)(10)77 15,700 12
Manachised and franchised hotels16(4)12 61 11,987 14
Total 16 (14) 2   138   27,687   26
(3) Legacy-DH refers to DH.
(4) As of September 30, 2024, a total of 2 hotels were temporarily closed due to repair work.


 For the quarter ended　
 September 30,June 30,September 30,yoy
　2023 2024 2024 change
Average daily room rate (in EUR)    
Leased hotels113 124 118 4.3%
Manachised and franchised hotels116 112 116 -0.1%
Blended114 120 117 2.5%
Occupancy rate (as a percentage)    
Leased hotels71.4%71.2%72.2%+0.8 p.p.
Manachised and franchised hotels65.5%63.8%66.6%+1.1 p.p.
Blended69.0%68.3%69.8%+0.8 p.p.
RevPAR (in EUR)    
Leased hotels81 88 85 5.4%
Manachised and franchised hotels76 72 77 1.6%
Blended79 82 82 3.7%
         

Hotel Portfolio by Brand

 As of September 30, 2024
 HotelsRoomsUnopened hotels
 in operationin pipeline
Economy hotels 5,461 449,937 1,091
HanTing Hotel4,057355,690695
Hi Inn55128,987237
Ni Hao Hotel39329,712135
Elan Hotel21511,290-
Ibis Hotel22622,01315
Zleep Hotels192,2459
Midscale hotels 4,344 465,743 1,238
Ibis Styles Hotel10710,45610
Starway Hotel72360,381125
JI Hotel2,708309,659827
Orange Hotel80685,247276
Upper midscale hotels 866 119,356 493
Crystal Orange Hotel22428,288152
CitiGO Hotel345,2835
Manxin Hotel16214,97069
Madison Hotel12515,97682
Mercure Hotel19030,09361
Novotel Hotel306,74321
IntercityHotel(5)9116,38997
MAXX(6)101,6146
Upscale hotels 147 21,693 95
Jaz in the City35871
Joya Hotel71,2341
Blossom House733,45580
Grand Mercure Hotel91,7961
Steigenberger Hotels & Resorts(7)5514,62112
Luxury hotels 16 2,368 3
Steigenberger Icon(8)91,8472
Song Hotels75211
Others 11 3,449 5
Other hotels(9)113,4495
Total 10,845 1,062,546 2,925
(5) As of September 30, 2024, 33 operational hotels and 92 pipeline hotels of IntercityHotel were in China.
(6) As of September 30, 2024, 5 operational hotels and 5 pipeline hotels of MAXX were in China.
(7) As of September 30, 2024, 12 operational hotels and 5 pipeline hotels of Steigenberger Hotels & Resorts were in China.
(8) As of September 30, 2024, 3 operational hotels and 1 pipeline hotel of Steigenberger Icon were in China.
(9) Other hotels include other partner hotels and other hotel brands in Yongle Huazhu Hotel & Resort Group (excluding Steigenberger Hotels & Resorts and Blossom House). 
 

1 Hotel turnover refers to total transaction value of room and non-room revenue from H World hotels (i.e., leased and operated, manachised and franchised hotels).
2 The conversion of Renminbi (“RMB”) into United States dollars (“US$”) is based on the exchange rate of US$1.00=RMB7.0176 on September 30, 2024, as set forth in H.10 statistical release of the U.S. Federal Reserve Board and available at http://www.federalreserve.gov/releases/h10/hist/dat00_ch.htm.
3 The conversion of Renminbi (“RMB”) into United States dollars (“US$”) is based on the exchange rate of US$1.00=RMB7.0176 on September 30, 2024, as set forth in H.10 statistical release of the U.S. Federal Reserve Board and available at http://www.federalreserve.gov/releases/h10/hist/dat00_ch.htm.

Contact Information
Investor Relations
Tel: +86 (21) 6195 9561
Email: ir@hworld.com 
https://ir.hworld.com 


FAQ

What was H World Group's (HTHT) revenue in Q3 2024?

H World Group reported revenue of RMB6.4 billion (US$918 million) in Q3 2024, representing a 2.4% year-over-year increase.

How many hotels did H World Group (HTHT) operate as of September 30, 2024?

H World Group operated 10,845 hotels with 1,062,546 rooms as of September 30, 2024.

What is H World Group's (HTHT) revenue guidance for Q4 2024?

H World expects revenue growth to be in the range of 1%-5% compared to Q4 2023.

What was H World Group's (HTHT) net income in Q3 2024?

H World Group reported net income of RMB1.3 billion (US$181 million) in Q3 2024.

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NASDAQ:HTHT

HTHT Rankings

#823 Ranked by Market Cap
#2137 Ranked by Dividends

HTHT Latest News

Nov 26, 2024
H World Group Limited Announces the Third Quarter 2024 Financial Results
Nov 12, 2024
H World Group Limited Schedules Third Quarter of 2024 Earnings Release on November 26, 2024
Sep 3, 2024
H World Group Limited Announces Change of Chief Financial Officer
Aug 20, 2024
H World Group Limited announces Q2 and Interim of 2024 Financial Results
Aug 20, 2024
H World Group Limited Reports Second Quarter and Interim of 2024 Unaudited Financial Results

HTHT Stock Data

10.72B
308.44M
1.71%
48.34%
3.78%
Lodging
Consumer Cyclical
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United States of America
Shanghai