SINGAPORE/SHANGHAI, Mar 20, 2024 – (ACN Newswire) – H World Group Limited (“H World” or “the Group”, NASDAQ: HTHT and HKEX: 1179) announced its unaudited financial results for the fourth quarter (“Q4 2023”) and full year ended December 31, 2023.

Strong Recovery Momentum in Legacy-Huazhu: RevPAR of 2023 Recovers to 122% of 2019 Levels

Supported by the sustained recovery in both leisure and business travel demand, RevPAR in Q4 2023 recovered to 120% of the 2019 level for Legacy-Huazhu business (refers to H World’s business in China). Breaking down into each month, the RevPAR in October, November and December 2023 recovered to 120%, 117% and 123% of the 2019 levels, respectively. Among them, the ADR was RMB284 in the fourth quarter of 2023, compared with RMB240 in the fourth quarter of 2022, RMB324 in the previous quarter, and RMB232 in the fourth quarter of 2019. The OCC for all the Legacy-Huazhu hotels in operation was 80.5%, with a year-on-year growth increased by 14.3 percentage points. For H World International (formerly known as DH), the ADR was EUR115, and the OCC for all H World International hotels in operation was 63.8%. Blended RevPAR was EUR73, recovered to 111% of the 2019 level.

Legacy-Huazhu’s RevPAR in 2023 indicate a robust resurgence. Commencing from February 2023, each monthly RevPAR consistently surpasses the 115% relative to the recovery of the 2019 level. For the full year of 2023, Legacy-Huazhu’s RevPAR reached 122% of the 2019 level. While the RevPAR growth in 2023 was primarily driven by ADR, H World also experienced continuous recovery in the occupancy rate.

Year-on-Year Revenue Surges Over 50%, Continues to Exceed Guidance

Relying on a sophisticated and efficient regional framework to rapidly expand the hotel network, gradually reaching resilient low-tier cities, H World consistently maintains a leading position in the limited-service market through high-quality products. In the fourth quarter of 2023, revenue was RMB5.6 billion (US$786 million), representing a 50.7% year-over-year increase. Revenue from the Legacy-Huazhu was RMB4.4 billion, representing a 59.0% year-over-year increase. Revenue from H World International in the fourth quarter of 2023 was RMB1.2 billion, representing a 26.6% year-over-year increase and a 2.2% sequential increase. The revenue growth for both the Group and Legacy-Huazhu exceeded the revenue guidance previously announced. Hotel turnover increased 55.0% year-over-year to RMB20.4 billion. Excluding H World International, hotel turnover increased 60.6% year-over-year in the fourth quarter of 2023. Net income attributable to H World Group Limited was RMB743 million (US$105 million), compared with a net loss attributable to H World Group Limited of RMB124 million in the fourth quarter of 2022. EBITDA (non-GAAP) in the fourth quarter of 2023 was RMB1.4 billion (US$191 million), compared with RMB529 million in the fourth quarter of 2022.

For the full year of 2023, the Group’s Revenue increased 57.9% year-over-year to RMB21.9 billion (US$3.1 billion). Net income attributable to H World Group Limited was RMB4.1 billion (US$575 million), compared with a net loss attributable to H World Group Limited of RMB1.8 billion for the full year of 2022. EBITDA was RMB6.8 billion (US$961 million), compared with RMB164 million for the full year of 2022.

The Interior of the Newly Launched Ji Hotel 5.0

In November 2023, the Group declared approximately US$300 million cash dividend, which included US$200 million of regular dividend and US$100 million special dividend. The Group also repurchased about US$120 million shares from the market in 2023. As H World becomes more asset-light and cash-rich, they will continue to reward their shareholders through dividends and buybacks.

Focusing on Economy and Midscale Brands, the Number of Hotel Openings Reaches a Historic High

As of December 31, 2023, H World’s worldwide hotel network in operation totaled 9,394 hotels and 912,444 rooms, including 131 hotels from H World International. The number of new openings by H World in China continues to accelerate. During the fourth quarter of 2023, Legacy-Huazhu opened 460 hotels. In 2023, for Legacy-Huazhu business, the number of hotels in new openings is 1,641, with an additional 3,061 hotels in the pipeline, marking a significant surge. H World seizes diverse accommodation needs through a multi-brand strategy, developing upper-midscale segment, continuously offering cost-effective and high-quality products to further meet the extensive demands of the essential market. As of the fourth quarter of 2023, the number of upper-midscale hotels in operation reached 645, with a 24% year-on-year increase and a 7% sequential increase. Simultaneously, the number of hotels in pipeline reached 386, with a 34% year-on-year increase and a 8% sequential increase. The number of hotels in operation and pipeline reaching 1,031, realizing the 1,000 hotels target set by H World in 2021. The Group will further accelerate high-quality network expansion by setting the gross hotel opening target of around 1,800 hotels in 2024.

As a leader in the Chinese chain hotel industry and one of the fastest-growing hotel groups globally, H World focuses on the core economy and midscale brands, actively expanding its hotel network. Leveraging organizational restructurings and the establishment of regional subsidiaries, H World effectively addressed underdeveloped areas, bolstering regional development and operational prowess, yielding staged operating outcomes. Looking ahead, Legacy-Huazhu will persist in its streamlined growth strategy, prioritizing service excellence by expanding premium establishments and deepening market penetration in lower-tier cities and underserved regions, particularly in limited-service hotels. This involves advancing brand quality through customer-centric sustainable quality growth and digitization-driven organizational upgrades. Concurrently, H World International will refine its strategic orientation towards asset-light transformation, cost reduction and efficiency improvement, and strengthening direct sales via H Reward global loyalty program. Additionally, it will explore growth opportunity in the Asia Pacific (APAC) and Middle East. The Group will continue to adhere to its sustainable and high-quality development path and sharpen its performance.

About H World Group Limited:

Originated in China, H World Group Limited is a key player in the global hotel industry. 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.

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

For enquiry, please contact Intelligent Joy Limited:

Angie An/Charlotte Zhang

Tel: (852) 3618-8460/3594-6407

Email: angie.an@intelligentjoy.com / charlotte.zhang@intelligentjoy.com

Copyright 2024 ACN Newswire. All rights reserved. http://www.acnnewswire.com

HONG KONG, Nov 24, 2023 – (ACN Newswire) – H World Group Limited (“H World” or “the Group”, NASDAQ: HTHT and HKEX: 1179) announced its unaudited financial results in the third quarter ended September 30, 2023.

Year-on-Year Revenue Surges Over 53%, Continues to Exceed Guidance

Relying on sophisticated and efficient regional headquarters to rapidly expand the hotel network, gradually reaching resilient low-tier cities, H World consistently maintains a leading position in the limited-service market through high-quality products. Meanwhile, the Group continues to refine its upper-midscale segment development to enhance market share and achieved relatively robust development in the third quarter. Revenue was RMB6.3 billion (US$861 million) in the third quarter of 2023, representing a 53.6% year-over-year increase and a 13.7% sequential increase. Revenue from the Legacy-Huazhu (refers to H World’s business in China) segment was RMB5.1 billion, representing a 61.8% year-over-year increase and a 17.6% sequential increase. Revenue from the DH segment was RMB1.2 billion, representing a 26.1% year-over-year increase. The revenue growth for both the Group and Legacy-Huazhu exceeded the revenue guidance previously announced. The Group’s hotel turnover increased 55.1% year-over-year to RMB23.5 billion. Excluding DH, hotel turnover increased 59.2% year-over-year in the third quarter of 2023. Net income attributable to the Group was RMB1.3 billion (US$183 million), compared with RMB1.0 billion in the previous quarter. EBITDA (non-GAAP) in the third quarter of 2023 was RMB2.1 billion (US$293 million), compared with RMB1.7 billion in the previous quarter.

Focusing on Economy and Midscale Brands, Deepening Limited-Service Hotels to Meet Market Demand

As of September 30, 2023, H World’s worldwide hotel network in operation totaled 9,157 hotels and 885,756 rooms, including 129 hotels from DH. Among them, H World operates 5,007 economy hotels, accounting for 54.7%, and 3,329 midscale hotels, accounting for 36.4%. The Group is accelerating product iteration and structural upgrades, solidifying core business development, and driving brand growth with high quality. Meanwhile, the number of new openings by Legacy-Huazhu continues to accelerate. During the third quarter of 2023, Legacy-Huazhu opened 545 hotels, including 4 leased and owned hotels, and 541 manachised and franchised hotels. H World seizes diverse accommodation needs, continuously offering cost-effective and high-quality lodging products to further meet the extensive demands. Additionally, as of September 30, 2023, H World had a total of 2,970 unopened hotels in the pipeline, including 2,935 hotels from the Legacy-Huazhu and 35 hotels from the DH. The robust project pipeline reflects H World’s leadership strength and its determination for continued expansion, contributing to a steady growth momentum.

Impressive Performance in Legacy-Huazhu: RevPAR Recovers to 129% of 2019 Levels

In the third quarter of 2023, driven by OCC and ADR, the Group’s blended RevPAR continued to grow. Among them, Legacy-Huazhu’s ADR was RMB324 in the third quarter of 2023, compared with RMB254 in the third quarter of 2022, RMB305 in the previous quarter, and RMB245 in the third quarter of 2019. The OCC for all the Legacy-Huazhu hotels in operation was 85.9%, with a year-on-year growth increase of 9.8 percentage points. The blended RevPAR was RMB278, recovered to 129% of the Q3 2019 level. Breaking down into monthly numbers, the RevPAR in July, August and September 2023 recovered to 132%, 128% and 128% of the 2019 levels, respectively. For DH, the ADR was EUR114, and the OCC for all DH hotels in operation was 69.0%. Blended RevPAR increased to EUR79.

As a leading player in the hotel industry in China and one of the fastest-growing hotel groups in the world, H World focuses on economy and midscale as the core products to serve the mass market, implements a strategy to further develop the upper-midscale segment to enrich its product structure, and achieves rapid expansion through an efficient management and franchise model. Jin Hui, CEO of H World commented: “We continue to outperform the China lodging industry, delivering robust operational results. We are pleased to report another quarter of strong RevPAR recovery in China, supported by China’s summer holiday travel season as well as continuous business travel recovery. Our ADR growth reflected a combination of product mix change and product upgrades, which should continue to support our ADR in the future.” Driven by the recovery of the industry and the peak travel season, H World continues to increase its pipeline projects, accelerate hotel expansion and signing processes, and gain momentum in RevPAR growth through ongoing brand and service upgrades.

About H World Group Limited:

Originated in China, H World Group Limited is a key player in the global hotel industry. 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.

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

Copyright 2023 ACN Newswire. All rights reserved. http://www.acnnewswire.com

HONG KONG, Nov 15, 2023 – (ACN Newswire) – On November 8th, the China International Import Expo International Investment and Financial Cooperation Forum was held at the National Exhibition and Convention Center in Shanghai. The forum, centered around the theme of “Digital Empowerment for Innovative Growth, Building a New Landscape for International Investment and Financing Cooperation,” was attended by leaders from various Chinese government departments and relevant institutions, diplomatic representatives, foreign guests, domestic financial experts and scholars, overseas financial institution representatives, as well as representatives from the financial and economic sectors. During the event, H World Group Limited (“H World” or “the Group”, NASDAQ: HTHT, HKEX: 1179) subsidiary, the Joya Hotel Shanghai Gubei, proudly served as the official reception hotel for the Arab exhibition delegation. A dedicated reception team was promptly established to smoothly coordinate and facilitate the proceedings, providing tailored services in accordance with Arab reception etiquette and religious practices. Exclusive culinary offerings and customized dishes were prepared to cater to the diverse lifestyle needs of the guests, reflecting the commitment of Joya Hotel to uphold the elegance of Chinese traditions and  high-quality brand philosophy of providing guests with refined living. Additionally, Murphy Zhu, President of Asia Pacific and the sole representative from the Chinese hotel industry, was invited to participate in the “International Investment Promotion and Investment China Closed-Door Dinner Party.” During the event, he delivered a keynote speech focusing on future cooperation with the Middle East region.

As one of the fastest-growing hotel groups globally, H World ranks sixth in terms of the number of hotel rooms, with a portfolio that encompasses 31 hotel and apartment brands across 18 countries as of September 30, 2023. The Group currently operates a total of 9,157 hotels with 885,756 rooms, and has successfully cultivated a membership base of over 200 million. With a strong focus on the Chinese market, H World has established a presence in over 1,000 cities nationwide, operating more than 9,000 hotels under 31 distinct brands. The Group is continuously exploring opportunities in lower-tier markets, expanding its hotel network. Simultaneously, H World actively pursues international expansion, presently operating 8 hotel brands across 3 continents, with 129 hotels in operation and 35 new hotels in preparation. This extensive hotel network and loyal membership base provide H World with the capability to capitalize on new market opportunities and fortify its brand chain.

Focusing on the Vast Market Potential in Saudi Arabia, H World Strategically Targets the Middle East for Expansion

Saudi Arabia possesses a robust hotel pipeline and holds significant market potential. The government’s “Vision 2030” initiative aims to foster a more dynamic, open, and modern business environment by introducing new industries such as entertainment and tourism, promoting investment regulations and societal reforms to drive economic diversification. Key catalysts for this expansion include the Public Investment Fund (PIF) and the Tourism Development Fund (TDF), with investment projects primarily concentrated in the Giga projects, the investment in major cities like Riyadh and Jeddah, as well as the Pilgrimage Cities: Makkah, Madinah. These initiatives are gradually extending to select secondary cities to enhance the appeal of tourism products, attract investment opportunities, and further develop and refine Saudi Arabia’s tourism ecosystem. The significant potential for market development, backed by local government financial support, aligns well with H World’s long-term development strategy in the Middle East. Capitalizing on this opportunity, H World is strategically directing its focus toward the Middle East market, continually enhancing its market share in overseas territories.

China and the Arab States Engage in Deep Cooperation, H World Enters the Middle East Market with Strong Capabilities

As the “Belt and Road” initiative and multilateral trade exchanges enter a phase of high-quality development, China continues to deepen its cooperation and exchanges with Arab states. Statistics indicate that total seat capacity from China to KSA in 2023 was 4.5 million, with a forecast to reach 6 million in 2025. This continuous increase in capacity is expected to drive further trade cooperation between China and the Arab states, fostering rapid development in the tourism industry for both parties. In July of this year, the Chief Executive of the Hong Kong Special Administrative Region met with the Saudi Arabian Minister of Communications and Information Technology, witnessing the signing of the memorandum of understanding by 11 local companies to enter the Saudi market. As one of these enterprises, H World has longstanding roots in the Middle East, and the signing of the memorandum further enhances its resource network in the region, facilitating better connectivity to the Saudi market. This establishes an efficient and connected platform as H World continues to expand its global business footprint. Currently, H World operates 3 hotel brands in the Middle East, with 9 hotels already open in the Gulf Cooperation Council (GCC) countries. China and Germany, as the main operating regions of the Group, are also the important source markets for Saudi Arabia and the Middle East, laying a solid foundation for H World to establish a foothold in the Middle East. In order to offer specialized, high-quality hotel services tailored to the local characteristics, H World has opened offices in Dubai and plans to establish a new office in Riyadh in 2024. The experienced team and rich operational expertise make local operations more manageable, fostering the strategic positioning of H World in the Middle East.

The ongoing close collaboration between China and the Middle East paves the way for H World to further expand its overseas presence. Leveraging the substantial market potential in the Middle East’s hotel accommodation industry, H World actively seizes market opportunities, relying on a seasoned management team, extensive operational experience, and a solid customer base to drive continued expansion in the Middle East. This contributes to H World’s share increasing in the global market, leading the way for China’s tourism and accommodation industry to explore and establish a positive development model in international markets.

Copyright 2023 ACN Newswire. All rights reserved. http://www.acnnewswire.com

HONG KONG, Nov 3, 2023 – (ACN Newswire) – The 14th “Future China Global Forum 2023,” organized by Business China, took place successfully in Singapore on October 27th. The forum aimed to explore new developments and opportunities in the region. This event brought together more than 800 distinguished business leaders, public figures, experts, and thought leaders from Singapore, China, and neighboring areas. Mr. Heng Swee Keat, Singapore’s Deputy Prime Minister & Coordinating Minister for Economic Policies, was in attendance as the esteemed Guest of Honour for the forum. Ms. He Jihong, the Chief Financial Officer of H World Group Limited (“H World” or “the Group”, NASDAQ: HTHT, HKEX: 1179), was invited to participate and delivered a speech on the topic of “Fuelling Energy Transition – Making Net Zero Possible.”

The energy crisis triggered by the Russia-Ukraine conflict has accelerated the need for alternative energy sources to replace traditional oil and gas resources. China, at the forefront of new energy developments, is taking advantage of this opportunity to facilitate an energy transformation. It is shifting away from an oil-based energy infrastructure and expediting its transition to a multi-energy infrastructure. This energy transition presents new opportunities for businesses. He Jihong emphasized that as a crucial driver of the service consumer industry, the accommodation sector must hastily embrace green development. With the introduction of concepts such as “green hotels” and “green services”, the implementation and establishment of green development and green awareness are of crucial importance.

He Jihong emphasized that as of 30 September 2023, H World operates nearly 10,000 hotels in 18 countries, with 886,000 rooms and over 200 million members. The Group is actively implementing its green development strategy across its extensive hotel network and user base, aligning with the new requirements for green development in China and the European Union. H World is committed to ESG (Environmental, Social, and Governance) sustainable development principles and continuously promotes green reforms. The Group focuses on three aspects: Green Buildings, Green Operations, and Green Services, all aimed at improving energy efficiency and reducing waste to meet the demands of new green development.

In terms of Green Buildings, various hotel brands of Legacy-Huazhu (refers to H World’s business in China) actively promote green building projects. They incorporate natural and easily recyclable materials to replace plastic products in their decoration. Moreover, by employing a robust supply chain system, they introduce “modular” renovations in all of Legacy-Huazhu’s hotels, further reducing carbon emissions. Regarding Green Operations, all of Legacy-Huazhu’s hotels have transitioned to using LED energy-saving lighting fixtures and advocate for the use of air-source heat pumps to reduce energy consumption. In Green Services, H World is dedicated to implementing a low-carbon and environmentally friendly guest experience. Through its in-house digital operating system, H World provides guests with various eco-friendly accommodation options and green service modes, including online reservations, check-ins, hotel service bookings and invoicing. This significantly reduces paper resource consumption, allowing for highly green and paperless operations. Additionally, when discussing the DH related business, He Jihong stated, “We have a comprehensive management system and an experienced team. DH has already established clear rules and regulations in the parts of Europe where it operates to meet the local government’s requirements for environmental protection.”

In promoting green development, He Jihong stated, “We should be aware that the most urgent issue today is the environment. Taking action to address the problem is better than sitting back and waiting for it to worsen. I hope that by setting an example, we can awaken more people’s awareness of environmental protection, which is a valuable contribution.” As a leading player in the hotel industry in China and one of the fastest-growing hotel groups in the world, H World always adheres to ESG principles and is committed to its sustainable quality growth. In accordance with the “dual carbon” policy and the requirements of global green sustainable development, H World will continue to integrate environmental, social, and corporate governance into its daily operations and long-term development strategy, and continue to build a governance structure that is clear in terms of rights and responsibilities, efficient in terms of operations, clean and upright. This commitment will continually enhance its ESG rating and work towards creating a better life for customers, franchisees, employees, and other ecosystem partners.

Copyright 2023 ACN Newswire. All rights reserved. http://www.acnnewswire.com

HONG KONG, Oct 31, 2023 – (ACN Newswire) – From October 23rd to 25th, the Hotel Investment Conference Asia Pacific (“HICAP”) 2023 was successfully held in Singapore. This conference focused on the dynamics and future prospects of the hospitality and travel industry in the Asia-Pacific region, discussing topics related to emerging travel trends, new developments in the hotel industry, and economic investment opportunities. It provided insights into the latest market trends and anticipated future directions for the industry. The conference was attended by nearly a thousand industry professionals and esteemed industry leaders. Ms He Jihong, the Chief Financial Officer of H World Group Limited(“H World” or “the Group”), and Mr Murphy Zhu, President of Asia Pacific, were invited to attend the conference and delivered speeches on the Group’s business and the development of the travel industry.

He Jihong highlighted that from the opening of the first Hanting Hotel 18 years ago, H World has become one of the fastest-growing hotel groups in the world and is currently ranked 6th in the world. H World has rapidly recovered from the impact of the Covid-19. Particularly during Chinese New Year this year, the RevPAR of Legacy-Huazhu (refers to H World’s business in China) rebounded to 140% of the 2019 level. In Q3 2023, Legacy-Huazhu’s RevPAR recovered to 129% of the 2019 level. Speaking about the Chinese economy and the tourism industry, He Jihong emphasized a new consumer trend where individuals of all age groups prioritize “experiential consumption”, which allows them to seek happiness through relatively small budget. H World’s portfolio consisting of over 90% limited-service hotels, is well-suited to meet these consumer needs. In addition, the anticipated rebound of business travel in China further contributes to the favorable outlook for H World’s business.

Regarding customer loyalty programs, He Jihong stated that H World has consistently embraced technological innovation. With their in-house operational system and analytical tools, the Group has significantly enhanced its ability to attract and retain loyalty members. Currently, more than 80% of their bookings come from their proprietary platform, with over 70% of them being made by loyalty members. The Group has a membership base of over 200 million and the number is expected to increase further next year as they work on building a robust ecosystem.

Furthermore, He Jihong emphasized that H World’s management and franchise model played a crucial role in the Group’s rapid growth. By providing a complete supply chain and assigning on-site hotel managers to manage franchised hotels, H World ensures consistent brand quality and revenue while simplifying operations for franchisees, realizing the Group’s rapid expansion to form a network effect, which is expected to open more than 1,000 hotels in the coming year.

During the “A Spotlight on East Asia – Opportunities and Challenges” session, Murphy Zhu also shared the recovery status of H World Group. The domestic consumption in the service industry increased by 21% compared to last year during the October Golden Week period, with tourism, lodging and restaurant businesses being the key drivers. As of September 30, 2023, H World operated 9,157 hotels with 885,756 rooms in operation in 18 countries. For Legacy-Huazhu, the like-for-like comparison with the mature hotel (6,500 hotels) RevPAR saw an increase of 41% compared to last year in Q3 2023, while the blended occupancy rate reached 86%. DH continued its promising business recovery trend and its RevPAR recovered to 107% of the 2019 level. In Q3 2023, H World has a pipeline of 2,970 projects. These solid pipeline results endorse the Group’s growth trends in 2024. Additionally, CJA, a subsidiary of H World, operates more than 200 apartments with 30,000 units in China, creating a strong synergy between hotels and apartments with their extensive network of over 9,000 hotels. In the future, with the accelerated urbanization in China and rapid development of extended-stay segment, H world will be able to create added value for owners and investors.

Copyright 2023 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Singapore/Shanghai, Oct 24, 2023 – (ACN Newswire) – H World Group Limited (“H World” or “the Group”, NASDAQ: HTHT and HKEX: 1179) announced its preliminary results for hotel operations in the third quarter ended 30 September 2023 (“Q3 2023”).

As of September 30, 2023, H World operated 9,157 hotels with 885,756 rooms in operation in 18 countries. In Q3 2023, Legacy-Huazhu (refers to H World’s business in China) reached 545 new hotel openings, marking an increase compared to 262 in Q1 and 374 in Q2 of 2023, which also demonstrated the franchisees’ recognition and confidence in promising development prospects of H World following their recovery of exceptional operating results. In Q3 2023, for Legacy-Huazhu business, the RevPAR recovered to 129% of the 2019 level. Breaking down into monthly numbers, the RevPAR in July, August and September 2023 recovered to 132%, 128% and 128% of the 2019 levels, respectively. The RevPAR growth continued to be primarily driven by ADR growth. Meanwhile, the occupancy rate recovery also improved sequentially in Q3 2023.

In Q3 2023, DH continued its promising business recovery trend and its RevPAR recovered to 107% of the 2019 level.

As a leading player in the hotel industry in China and one of the fastest-growing hotel groups in the world, H World has consistently adhered to the “customer-centric” sustainable quality growth, thereby maintaining a stable growth momentum. The Group consistently strengthens the development of its core business in the economy and midscale segments, enhances its presence in the upper-midscale segment and explores opportunities in lower-tier markets. With a unique management and franchising model that emphasizes asset-light operations, H World offers renowned brands and management expertise, driving high-quality hotel development and continuously enhancing service quality. Simultaneously, H World leverages digitization to enhance the overall consumer experience, fortify brand loyalty, continuously optimize performance, and solidify its leading position in the industry.

About H World Group Limited:

Originated in China, H World Group Limited is a key player in the global hotel industry. 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.

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

Copyright 2023 ACN Newswire. All rights reserved. http://www.acnnewswire.com