H World Group Reports Solid Q3 2025 Results with Enhanced Profitability and Continued Network Expansion

Rhea-AI Summary

H World Group (NASDAQ: HTHT) reported Q3 2025 results showing continued asset-light expansion, stronger margins, and rising customer engagement. Hotel GMV reached RMB 30.6 billion (+17.5% YoY) and total revenue was RMB 7.0 billion (+8.1% YoY). Revenue from manachised and franchised hotels rose 27.2% to RMB 3.3 billion. Adjusted EBITDA increased to RMB 2.5 billion from RMB 2.1 billion. The group opened 749 hotels in Q3 and has opened more than 2,000 hotels year-to-date toward a 2,300 gross openings target for 2025. H Rewards exceeded 300 million members with 66 million room nights in Q3 (+19.7% YoY).

Positive

• Hotel GMV +17.5% to RMB 30.6 billion
• Total revenue +8.1% to RMB 7.0 billion
• Manachised/franchised revenue +27.2% to RMB 3.3 billion
• Adjusted EBITDA increased to RMB 2.5 billion (from RMB 2.1 billion)
• Opened 749 hotels in Q3; >2,000 hotels opened YTD toward 2,300 target
• H Rewards >300 million members; 66 million room nights (+19.7% YoY)

Negative

• None.

SHANGHAI, Nov. 17, 2025 /PRNewswire/ -- H World Group Limited (NASDAQ: HTHT; HKEX: 01179), one of the world's leading hospitality groups, delivered strong third-quarter results for 2025, with continued momentum across its asset-light expansion, loyalty ecosystem, and digital capabilities.

Asset-light Strategy Continues to Drive High-quality Growth

Hotel GMV reached RMB 30.6 billion, up 17.5% year-on-year, while total revenue grew 8.1% year-on-year to RMB 7.0 billion. Revenue from manachised and franchised hotels rose 27.2% to RMB 3.3 billion, underscoring the strength of the Company's asset-light model and sustained franchise demand.

Adjusted EBITDA increased to RMB 2.5 billion, compared with RMB 2.1 billion in the same period last year. The improvement reflects stronger operating efficiency, healthier margins, and the Group's continued ability to convert top-line growth into solid operating performance.

Jin Hui, CEO of H World Group, said: "In the third quarter, our asset-light strategy and strong network expansion helped drive revenue above the high end of our guidance and support healthy operating profit growth. With more than 2,000 hotels opened year-to-date, we remain firmly on track to reach our target of 2,300 gross openings in 2025."

Expanding Loyalty, Scale, and Brand Strength

H Rewards, the Group's loyalty program, surpassed 300 million members, making it one of the largest hotel loyalty ecosystems in the world.

Members booked 66 million room nights in the third quarter, up 19.7% year-on-year, underscoring rising engagement and growing trust in the Group's brands and digital platforms.

H World continues to advance its multi-brand strategy, with leading performance across the economy, midscale, and upper-midscale segments. Flagship brands such as Hanting, JI Hotel, Orange Hotel, Crystal Orange, and IntercityHotel remain key drivers of domestic and international network growth.

As of September 30, 2025, H World operated 12,702 hotels with 1,246,240 rooms globally. The Group opened 749 hotels in Q3 and expanded its presence across 89 additional Chinese cities year-on-year.

H World remains optimistic about long-term growth prospects in China and abroad, supported by strong franchise demand, a deeply scalable digital infrastructure, and a resilient membership ecosystem.

For the full release please visit: https://ir.hworld.com/

About H World Group Limited

Headquartered in China, H World Group Limited (NASDAQ: HTHT; HK: 01179) is a leading global hospitality company with a diversified portfolio including Steigenberger Icons, Steigenberger Hotels & Resorts, MAXX, HanTing, JI Hotel, Crystal Orange Hotel, among others. The Group emphasizes asset-light operations, digital innovation, and strategic brand development to drive sustainable international growth.

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

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.

For media inquiry, please contact:
Lihuan Wang media@hworld.com
Zheming Xing zheming@taskforce-china.cn

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SOURCE H World Group

FAQ

What were H World (HTHT) Q3 2025 revenue and growth rates?

H World reported Q3 2025 revenue of RMB 7.0 billion, up 8.1% YoY.

How much did H World’s hotel GMV grow in Q3 2025 for HTHT?

Hotel GMV reached RMB 30.6 billion, a 17.5% YoY increase.

What was HTHT’s Adjusted EBITDA in Q3 2025 and the change versus last year?

Adjusted EBITDA was RMB 2.5 billion, up from RMB 2.1 billion in Q3 2024.

How many hotels did H World (HTHT) open in Q3 2025 and year-to-date?

H World opened 749 hotels in Q3 2025 and has opened over 2,000 hotels YTD.

How large is H World’s loyalty program for HTHT and its Q3 engagement?

H Rewards exceeded 300 million members, with 66 million room nights in Q3 (+19.7% YoY).

What portion of H World’s revenue came from manachised and franchised hotels in Q3 2025 (HTHT)?

Revenue from manachised and franchised hotels rose 27.2% to RMB 3.3 billion in Q3 2025.