H World Group Limited Q3 2024 Financial Results: Unaudited Report
H World Group Limited, a major player in the global hotel industry, has released its financial results for the third quarter of 2024. As of September 30, 2024, the company had a total of 10,845 hotels and over a million hotel rooms in operation, which is quite impressive.
During the third quarter of 2024, they saw a 10.7% increase in hotel turnover, reaching RMB26.0 billion. Revenue also went up by 2.4% year-over-year to RMB6.4 billion (US$918 million) in the same period. Net income attributable to H World Group Limited was RMB1.3 billion (US$181 million) in the third quarter of 2024, with a notable increase from the previous quarter.
Looking ahead to the fourth quarter of 2024, H World expects revenue growth to be in the range of 1%-5% compared to the fourth quarter of 2023. It’s impressive to see their consistent growth and positive outlook for the future.
Legacy-Huazhu, a significant segment of H World’s business, reported some operational highlights for the third quarter of 2024. They had over 10,000 hotels and a million rooms in operation, showing the scale of their operations. With the Legacy-Huazhu segment’s revenue per available room, average daily room rate, and occupancy rate all demonstrating positive trends, it’s clear that the company is on the right track.
Overall, H World Group Limited’s financial performance in the third quarter of 2024 reflects a strong and promising outlook for the company. With their expansive hotel network and consistent growth, they are setting themselves up for continued success in the global hotel industry.
