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H World Group Limited, previously known as Huazhu Group Limited, is a leading investment holding company based in China, recognized for its significant presence in the hotel industry. The company operates a diverse portfolio of hotel brands through various models including leased, manachised, and franchised hotels. H World Group’s brand offerings range from economy to luxury, encompassing well-known names such as HanTing Hotel, JI Hotel, Orange Hotel, Steigenberger Hotels & Resorts, and many more.
As one of the fastest-growing hotel groups globally, H World Group ranks sixth worldwide in terms of the number of hotel rooms. The company operates in numerous countries and regions, including Europe, the Middle East, India, Africa, and the Asia Pacific. Notably, Southeast Asia has emerged as a key focus for international expansion, indicating the Group's strategic emphasis on tapping into new markets.
In 2023, H World Group witnessed a remarkable recovery in its operations, particularly in China. The company reported that its Revenue Per Available Room (RevPAR) for the year reached 122% of the 2019 levels, driven by strong demand from lower-tier cities. This recovery was supported by a robust rise in both Average Daily Rate (ADR) and Occupancy (OCC) rates. The full-year revenue surged by 57.9% year-over-year to RMB21.9 billion (US$3.1 billion), highlighting the Group's ability to adapt and thrive in a post-pandemic environment.
H World Group’s commitment to technological innovation plays a crucial role in its success. The Group’s self-developed operational platform, which includes sophisticated analytical tools, has significantly enhanced customer engagement and loyalty. With over 200 million members, this platform is poised for further growth, facilitating a deeper understanding of customer preferences and improving service delivery.
Focusing on economy and midscale brands, H World Group continues to expand its hotel network aggressively. As of December 31, 2023, the company operated 9,394 hotels with 912,444 rooms worldwide. The Group's strategic vision includes expanding its footprint in third and fourth-tier cities in China, where significant growth potential remains untapped. Additionally, H World's international strategy aims to transform its operations into asset-light models, emphasizing cost reduction, efficiency improvements, and leveraging its global loyalty program, H Reward, to drive direct sales.
Recent news highlights include the company's participation in the Hotel Investment Conference Asia Pacific Update 2024, where H World showcased its strategic initiatives and growth plans. Moreover, the Group reported strong financial results for Q4 2023, with revenue increasing by 50.7% year-over-year, and continued to reward shareholders through dividends and share buybacks.
Originating from China, H World Group Limited continues to be a key player in the global hotel industry, dedicated to sustainable and high-quality development, and committed to leveraging its diverse brand portfolio to meet the evolving needs of travelers worldwide.
H World Group (NASDAQ: HTHT and HKEX: 1179) has announced a change in its executive leadership. Mr. Jun Zou will step down as Chief Financial Officer on September 4, 2024, due to personal reasons. Ms. Hui Chen, the current Chief Compliance Officer, will assume the role of Chief Financial Officer effective the same date.
Ms. Chen brings extensive financial management experience in China's travel and hotel industries. She has a history with H World, having served in various financial roles since 2014, including a previous stint as CFO from May 2021 to December 2022. Her background also includes CFO positions at Cjia Group and Home Inns Group, as well as a finance director role at Trip.com. Ms. Chen holds a master's degree in management from Shanghai Jiaotong University.
H World Group (NASDAQ: HTHT, HKEX: 1179) reported strong Q2 and H1 2024 financial results. Revenue grew 14.1% year-over-year to RMB 11.4 billion (USD 1.6 billion) in H1 2024, with Q2 revenue reaching RMB 6.1 billion (USD 846 million), up 11.2% year-over-year. Income from operations increased to RMB 2.6 billion (USD 354 million) in H1 2024, with Q2 operating margin improving to 25.6%. The company's hotel network expanded to 10,286 hotels worldwide, with 3,294 under development. H World upgraded its 2024 hotel opening guidance to over 2,200 hotels. The board announced a three-year shareholder return plan of up to $2 billion and approved a five-year share repurchase plan of up to $1 billion, reflecting confidence in long-term growth prospects.
H World Group (NASDAQ: HTHT) reported its unaudited financial results for Q2 2024. The company operated 10,286 hotels with 1,001,865 rooms globally as of June 30, 2024.
Hotel turnover increased 15.5% YoY to RMB23.4 billion. Revenue rose 11.2% YoY to RMB6.1 billion, at the high end of the previously announced guidance. The Legacy-Huazhu segment's revenue increased 11.1%, while the Legacy-DH segment's revenue rose 11.6% YoY.
Net income attributable to H World was RMB1.1 billion, up from RMB1.0 billion in Q2 2023. EBITDA (non-GAAP) was RMB1.9 billion, and adjusted EBITDA was RMB2.0 billion.
For Q3 2024, H World expects revenue growth of 2%-5% YoY. The company also revised its full-year 2024 hotel opening guidance to over 2,200 hotels, up from around 1,800. During Q2 2024, H World opened 567 hotels but saw Legacy-Huazhu's blended RevPAR decline by 2% YoY.
H World Group (NASDAQ: HTHT, HKEX: 1179), a major player in the global hotel industry, has announced the release date for its unaudited financial results for the second quarter and interim of 2024. The results will be disclosed on August 20, 2024, after Hong Kong Stock Exchange trading hours and before the U.S. market opens. A conference call is scheduled for 9 p.m. U.S. Eastern time on August 20, 2024 (9 a.m. Hong Kong time on August 21, 2024). Participants must pre-register for the call using a provided link. A live webcast will be available, and a replay will be accessible for twelve months on the company's website.
H World Group (NASDAQ: HTHT, HKEX: 1179) has announced a three-year shareholder return plan with distributions of up to US$2 billion, effective July 23, 2024. The plan includes:
1. An amended dividend policy with semi-annual distributions of at least 60% of annual net income.
2. A US$200 million cash dividend for H1 2024 (US$0.63 per ADS), payable September 3, 2024.
3. A new five-year share repurchase program of up to US$1 billion, effective August 21, 2024.
These initiatives demonstrate H World's commitment to enhancing shareholder value and long-term growth.
On July 2, 2024, H World Group (NASDAQ: HTHT, HKEX: 1179) announced changes to its board of directors. Mr. Shangzhi Zhang will step down as a director to become an observer, while Ms. Jie Zheng will join as an executive director. Ms. Zheng brings over 20 years of leadership experience in automotive and hospitality sectors, having held senior positions at Fiat Chrysler Automobiles Group in China and Honeywell. She rejoined H World in January 2023 as a senior advisor and supervisory board member of Steigenberger Hotels GmbH. She holds degrees from Shanghai International Studies University, Rutgers University, and Arizona State University, and is pursuing a PhD in psychology. Ms. Zheng has been recognized as one of the Most Influential Business Women in China by Fortune and received the Mulan Award for Top Business Women in China. The company's founder, Qi Ji, expressed confidence in Ms. Zheng's leadership and expertise.
H World Group (NASDAQ: HTHT, HKEX: 1179) announced the successful outcomes of its 2024 annual general meeting (AGM) held on June 27, 2024.
Key resolutions passed include the ratification of Deloitte Touche Tohmatsu as the Company's auditor for 2024, authorization for Company directors to set the auditor's remuneration, and the amendment of the 2023 share incentive plan.
The AGM also approved the authorization of directors or designated officers to take necessary actions to implement these resolutions.
H World Group (NASDAQ: HTHT, HKEX: 1179) reported a 17.8% year-over-year increase in revenue to RMB 5.3 billion (USD 731 million) for Q1 2024, surpassing guidance. Legacy-Huazhu segment revenue rose 18.1%, while Legacy-DH segment saw a 16.6% revenue increase. Net income dropped to RMB 659 million, down from RMB 990 million in Q1 2023. Adjusted EBITDA grew 40% year-over-year to RMB 1.4 billion. The company operates 9,817 hotels with 955,657 rooms and plans to open 3,172 more. Q2 2024 revenue growth is projected at 7-11%. CEO Jin Hui noted strong results and ongoing network expansion despite potential near-term RevPAR fluctuations.
H World Group , a key player in the global hotel industry, will release its unaudited financial results for the first quarter of 2024 on May 17, 2024. The management will host a conference call on May 19, 2024, to discuss the results. Participants can join the call via phone or webcast. A replay will be available on the company's website for twelve months.
H World Group completed its put right offer for its 3.00% Convertible Senior Notes due 2026, with none of the Notes being surrendered. The aggregate repurchase price was nil. The offer expired on April 29, 2024. More information is available on the SEC's and Company's websites.
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