H World Group Limited Third Quarter 2024 Financial Results
H World Group Limited recently released its unaudited financial results for the third quarter of 2024, showing some promising figures. As of September 30, 2024, the company had a total of 10,845 hotels with 1,062,546 hotel rooms in operation. In this quarter, hotel turnover increased by 10.7% year-over-year to RMB26.0 billion.
Breaking it down, excluding Deutsche Hospitality (DH), hotel turnover from the Legacy-Huazhu segment saw an 11.0% increase, while Legacy-DH segment turnover increased by 7.8% year-over-year. Revenue for the quarter increased by 2.4% year-over-year to RMB6.4 billion (US$918 million). Net income attributable to H World Group Limited was RMB1.3 billion (US$181 million) for this period.
Adjusted EBITDA for the third quarter of 2024 was RMB2.0 billion (US$286 million), slightly lower than the previous quarter but still showing stability. Looking ahead, for the fourth quarter of 2024, H World anticipates revenue growth in the range of 1%-5% compared to the same period in 2023.
What’s more, as of September 30, 2024, H World’s global hotel network included a total of 10,845 hotels and 1,062,546 rooms in operation. The Legacy-Huazhu segment of the business remains a key focus, with revenue growth in line with expectations. Legacy-Huazhu had a total of 2,925 unopened hotels in the pipeline as of September 30, 2024, showcasing continued expansion plans.
Overall, H World Group Limited is demonstrating steady growth and performance in the challenging hotel industry landscape. The company’s commitment to financial transparency is clear through these reported results, giving investors and stakeholders valuable insights into its operations and future outlook.
