Summary by Moomoo AI
H World Group reported Q3 2024 revenue of RMB6.4 billion ($918 million), up 2.4% YoY, with hotel turnover increasing 10.7% to RMB26.0 billion. Net income remained stable at RMB1.3 billion ($181 million). The Legacy-Huazhu segment contributed RMB1.4 billion to net income, while Legacy-DH recorded a RMB83 million loss including restructuring costs.The company's total hotel network expanded to 10,845 hotels with 1,062,546 rooms as of September 30, 2024. Legacy-Huazhu opened 774 new hotels and closed 217 in Q3, while RevPAR decreased 8.1% YoY to RMB256, primarily due to a high ADR base last year and unfavorable weather conditions.Looking ahead, H World expects Q4 2024 revenue growth of 1-5% YoY for both the overall business and excluding DH. The company maintained solid occupancy rates at 84.9% for Legacy-Huazhu despite rapid network expansion, demonstrating resilient operational performance.
