{"id":20259,"date":"2025-03-21T02:42:48","date_gmt":"2025-03-21T02:42:48","guid":{"rendered":"https:\/\/www.hotelsalepage.com\/feed\/cision-pr-newswire\/h-world-group-reports-fourth-quarter-and-2024-full-year-financial-results\/"},"modified":"2025-03-21T02:42:48","modified_gmt":"2025-03-21T02:42:48","slug":"h-world-group-reports-fourth-quarter-and-2024-full-year-financial-results","status":"publish","type":"post","link":"https:\/\/thaipropertynews.com\/feeds\/?p=20259","title":{"rendered":"H World Group Reports Fourth Quarter and 2024 Full-Year Financial Results"},"content":{"rendered":"<table border=\"0\" cellspacing=\"10\" cellpadding=\"5\" align=\"right\">\n<tbody>\n<tr>\n<td><img decoding=\"async\" src=\"https:\/\/mma.prnasia.com\/media2\/2646258\/H_World_Group_Logo.jpg?p=medium600\" border=\"0\" alt=\"\" title=\"logo\" hspace=\"0\" vspace=\"0\" width=\"118\" \/><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p class=\"prntac\"><i>Accelerated network expansion, asset-light revenue growth, and rising membership and CRS contribution underscore long-term momentum<\/i><\/p>\n<p><b>Highlights <\/b><\/p>\n<ul type=\"disc\">\n<li>Fourth quarter revenue increased 7.8% Y-o-Y to <span class=\"xn-money\">RMB6.0 billion<\/span> (<span class=\"xn-money\">US$825 million<\/span>)<\/li>\n<li>2024 full year revenue increased 9.2% Y-o-Y to <span class=\"xn-money\">RMB23.9 billion<\/span> (<span class=\"xn-money\">US$3.3 billion<\/span>)<\/li>\n<li>Fourth quarter adjusted EBITDA<b><sup>1<\/sup><\/b> totaled <span class=\"xn-money\">RMB1.2 billion<\/span> (<span class=\"xn-money\">US$171 million<\/span><b><sup>2<\/sup><\/b>)<\/li>\n<li>2024 full year adjusted EBITDA totaled <span class=\"xn-money\">RMB6.8 billion<\/span> (<span class=\"xn-money\">US$935 million<\/span>)<\/li>\n<li>A record 2,442 new hotel openings in 2024, reaching a total of 11,147 hotels as of year end<\/li>\n<li>3013 hotels in the pipeline as of year end<\/li>\n<li>The Group returned approx. <span class=\"xn-money\">US$767 million<\/span> to shareholders through cash dividends and share repurchases in 2024<\/li>\n<\/ul>\n<p><span class=\"legendSpanClass\"><span class=\"xn-location\">SINGAPORE<\/span> and <span class=\"xn-location\">SHANGHAI<\/span><\/span>, <span class=\"legendSpanClass\"><span class=\"xn-chron\">March 20, 2025<\/span><\/span> \/PRNewswire\/ &#8212;<b> H World Group Limited (NASDAQ: HTHT and HKEX: 1179)<\/b>, a key player in the global hotel industry, announced its unaudited financial results for the fourth quarter and full year ended <span class=\"xn-chron\">December 31, 2024<\/span>.<\/p>\n<p>The Company continued its significant network expansion, deepening its presence in the Chinese market and expanding its global footprint.<\/p>\n<p><span class=\"xn-person\">Jin Hui<\/span>, CEO of H World said &#8220;In 2024, H World achieved the 10,000-hotel milestone, while continuing our rapid fast network expansion in <span class=\"xn-location\">China<\/span>. In the year of 2024, Legacy- Huazhu<b><sup>3<\/sup><\/b> opened over 2,400 new hotels, far exceeding our initial target of 1,800 hotels, supported by our strong brand reputation and excellent product quality. While Legacy- Huazhu&#8217;s full-year RevPAR declined slightly year-over-year from a high base the previous year, Legacy-Huazhu maintained a high occupancy rate of 81.2%, which we believe is encouraging given the speed of our network expansion. Looking ahead, we will continue to implement our asset-light strategy, pursue high-quality hotel network growth, strengthen brand positioning, and enhance sales capability centered around our H Reward membership program.&#8221;<\/p>\n<p>&#8220;Regarding our business outside <span class=\"xn-location\">China<\/span>, our Legacy-DH<b><sup>4<\/sup><\/b> business recorded a 5.9% year- on-year RevPAR increase in 2024. Looking into 2025, we will continue to enhance our hotel operations, focus on cost reduction and efficiency improvement, and continue developing the asset-light portfolio.&#8221;<\/p>\n<p>EBITDA performance during the period demonstrated underlying profitability of the business, supported by continued growth in high-margin, fee-based revenue. Despite the impact of impairment losses and one-off restructuring items, fourth quarter adjusted EBITDA totaled <span class=\"xn-money\">US$171 million<\/span>, up 10.3% year-over-year. Full year adjusted EBITDA totaled <span class=\"xn-money\">US$935 million<\/span>, an increase of 8.8% year-over-year.<\/p>\n<p>The Group continued to enhance its diverse portfolio to meet shifting needs of travelers in key markets. In 2024 H World added 231 new hotels in the upper-mid scale segment, under brands such as Crystal Orange Hotel, Intercity Hotel, Maxx by Steigenberger and Manxin Hotel. There are 526 upper-midscale hotels in the pipeline, a 32% increase over 2023.<\/p>\n<div class=\"PRN_ImbeddedAssetReference\">\n<p><a href=\"https:\/\/mma.prnasia.com\/media2\/2646376\/1.html\" target=\"_blank\" rel=\"nofollow\"><img decoding=\"async\" src=\"https:\/\/mma.prnasia.com\/media2\/2646376\/1.jpg?p=medium600\" title=\"IntercityHotel Shanghai New International Expo Center\" alt=\"IntercityHotel Shanghai New International Expo Center\" \/><\/a><br \/><span>IntercityHotel Shanghai New International Expo Center<\/span><\/p>\n<\/div>\n<p>Loyalty engagement continued to grow, with H Rewards membership rising to 267 million. Contribution from central reservation systems increased 4% year-over-year to almost two thirds of all bookings, reflecting the growing appeal of the H Rewards program and the company&#8217;s digital innovations. New mobile features, dynamic pricing capabilities, and personalized booking experiences have further strengthened guest engagement and boosted direct booking conversion.<\/p>\n<p>Looking ahead, H World Group remains focused on high-quality, disciplined growth. With a robust development pipeline, continued upgrades of products and direct sales capabilities, the Group is positioned to drive long-term value and deliver consistent, sustainable performance.<\/p>\n<p>For the full release visit: <a href=\"https:\/\/ir.hworld.com\/news-releases\/news-release-details\/h-world-group-limited-reports-fourth-quarter-and-full-year-2024\" target=\"_blank\" rel=\"nofollow\">https:\/\/ir.hworld.com\/news-releases\/news-release-details\/h-world-group-limited-reports-fourth-quarter-and-full-year-2024<\/a><\/p>\n<ol type=\"1\">\n<li>Adjusted EBITDA excludes foreign exchange (gain) loss, net (gain) loss on disposal of investments, (gains) losses from fair value changes of equity securities and share-based compensation expenses.<\/li>\n<li>The conversion of\u00a0Renminbi (&#8220;RMB&#8221;) into <span class=\"xn-location\">United States<\/span> dollars (&#8220;US$&#8221;) is based on the exchange rate of <span class=\"xn-money\">US$1.00<\/span>=<span class=\"xn-money\">RMB7.2993<\/span> on <span class=\"xn-chron\">December 31, 2024<\/span>, as set forth in H.10 statistical release of the U.S. Federal Reserve Board and available at <a href=\"http:\/\/www.federalreserve.gov\/releases\/h10\/hist\/dat00_ch.htm\" target=\"_blank\" rel=\"nofollow\">http:\/\/www.federalreserve.gov\/releases\/h10\/hist\/dat00_ch.htm<\/a>.<\/li>\n<li>Legacy-Huazhu refers to H World and its subsidiaries, excluding Steigenberger Hotels GmbH and its subsidiaries<\/li>\n<li>Legacy-DH refers to Steigenberger Hotels GmbH and its subsidiaries<\/li>\n<\/ol>\n<p><b>About H World Group Limited<\/b><\/p>\n<p>Originated in <span class=\"xn-location\">China<\/span>, H World Group Limited is a key player in the global hotel industry. H World&#8217;s brands include HanTing Hotel, JI Hotel, Crystal Orange Hotel, Steigenberger Hotels &amp; Resorts, MAXX, Jaz in the City, IntercityHotel, Zleep Hotels and Steigenberger Icons. In addition, H World also has the rights as master franchisee for Mercure, Ibis and Ibis Styles, and co-development rights for Grand Mercure and Novotel, in the pan-<span class=\"xn-location\">China<\/span> region.<\/p>\n<p>For more information, please visit H World&#8217;s website: <a href=\"https:\/\/ir.hworld.com\/\" target=\"_blank\" rel=\"nofollow\">https:\/\/ir.hworld.com<\/a>.<\/p>\n<p>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.<\/p>\n<div class=\"PRN_ImbeddedAssetReference\">\n<\/div>","protected":false},"excerpt":{"rendered":"<p><!-- wp:html --><\/p>\n<table border=\"0\" cellspacing=\"10\" cellpadding=\"5\" align=\"right\">\n<tbody>\n<tr>\n<td><img decoding=\"async\" src=\"https:\/\/mma.prnasia.com\/media2\/2646258\/H_World_Group_Logo.jpg?p=medium600\" border=\"0\" alt=\"\" title=\"logo\" hspace=\"0\" vspace=\"0\" width=\"118\" \/><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p class=\"prntac\"><i>Accelerated network expansion, asset-light revenue growth, and rising membership and CRS contribution underscore long-term momentum<\/i><\/p>\n<p><b>Highlights <\/b><\/p>\n<ul type=\"disc\">\n<li>Fourth quarter revenue increased 7.8% Y-o-Y to <span class=\"xn-money\">RMB6.0 billion<\/span> (<span class=\"xn-money\">US$825 million<\/span>)<\/li>\n<li>2024 full year revenue increased 9.2% Y-o-Y to <span class=\"xn-money\">RMB23.9 billion<\/span> (<span class=\"xn-money\">US$3.3 billion<\/span>)<\/li>\n<li>Fourth quarter adjusted EBITDA<b><sup>1<\/sup><\/b> totaled <span class=\"xn-money\">RMB1.2 billion<\/span> (<span class=\"xn-money\">US$171 million<\/span><b><sup>2<\/sup><\/b>)<\/li>\n<li>2024 full year adjusted EBITDA totaled <span class=\"xn-money\">RMB6.8 billion<\/span> (<span class=\"xn-money\">US$935 million<\/span>)<\/li>\n<li>A record 2,442 new hotel openings in 2024, reaching a total of 11,147 hotels as of year end<\/li>\n<li>3013 hotels in the pipeline as of year end<\/li>\n<li>The Group returned approx. <span class=\"xn-money\">US$767 million<\/span> to shareholders through cash dividends and share repurchases in 2024<\/li>\n<\/ul>\n<p><span class=\"legendSpanClass\"><span class=\"xn-location\">SINGAPORE<\/span> and <span class=\"xn-location\">SHANGHAI<\/span><\/span>, <span class=\"legendSpanClass\"><span class=\"xn-chron\">March 20, 2025<\/span><\/span> \/PRNewswire\/ &#8212;<b> H World Group Limited (NASDAQ: HTHT and HKEX: 1179)<\/b>, a key player in the global hotel industry, announced its unaudited financial results for the fourth quarter and full year ended <span class=\"xn-chron\">December 31, 2024<\/span>.<\/p>\n<p>The Company continued its significant network expansion, deepening its presence in the Chinese market and expanding its global footprint.<\/p>\n<p><span class=\"xn-person\">Jin Hui<\/span>, CEO of H World said &#8220;In 2024, H World achieved the 10,000-hotel milestone, while continuing our rapid fast network expansion in <span class=\"xn-location\">China<\/span>. In the year of 2024, Legacy- Huazhu<b><sup>3<\/sup><\/b> opened over 2,400 new hotels, far exceeding our initial target of 1,800 hotels, supported by our strong brand reputation and excellent product quality. While Legacy- Huazhu&#8217;s full-year RevPAR declined slightly year-over-year from a high base the previous year, Legacy-Huazhu maintained a high occupancy rate of 81.2%, which we believe is encouraging given the speed of our network expansion. Looking ahead, we will continue to implement our asset-light strategy, pursue high-quality hotel network growth, strengthen brand positioning, and enhance sales capability centered around our H Reward membership program.&#8221;<\/p>\n<p>&#8220;Regarding our business outside <span class=\"xn-location\">China<\/span>, our Legacy-DH<b><sup>4<\/sup><\/b> business recorded a 5.9% year- on-year RevPAR increase in 2024. Looking into 2025, we will continue to enhance our hotel operations, focus on cost reduction and efficiency improvement, and continue developing the asset-light portfolio.&#8221;<\/p>\n<p>EBITDA performance during the period demonstrated underlying profitability of the business, supported by continued growth in high-margin, fee-based revenue. Despite the impact of impairment losses and one-off restructuring items, fourth quarter adjusted EBITDA totaled <span class=\"xn-money\">US$171 million<\/span>, up 10.3% year-over-year. Full year adjusted EBITDA totaled <span class=\"xn-money\">US$935 million<\/span>, an increase of 8.8% year-over-year.<\/p>\n<p>The Group continued to enhance its diverse portfolio to meet shifting needs of travelers in key markets. In 2024 H World added 231 new hotels in the upper-mid scale segment, under brands such as Crystal Orange Hotel, Intercity Hotel, Maxx by Steigenberger and Manxin Hotel. There are 526 upper-midscale hotels in the pipeline, a 32% increase over 2023.<\/p>\n<div class=\"PRN_ImbeddedAssetReference\">\n<p><a href=\"https:\/\/mma.prnasia.com\/media2\/2646376\/1.html\" target=\"_blank\" rel=\"nofollow\"><img decoding=\"async\" src=\"https:\/\/mma.prnasia.com\/media2\/2646376\/1.jpg?p=medium600\" title=\"IntercityHotel Shanghai New International Expo Center\" alt=\"IntercityHotel Shanghai New International Expo Center\" \/><\/a><br \/><span>IntercityHotel Shanghai New International Expo Center<\/span><\/p>\n<\/div>\n<p>Loyalty engagement continued to grow, with H Rewards membership rising to 267 million. Contribution from central reservation systems increased 4% year-over-year to almost two thirds of all bookings, reflecting the growing appeal of the H Rewards program and the company&#8217;s digital innovations. New mobile features, dynamic pricing capabilities, and personalized booking experiences have further strengthened guest engagement and boosted direct booking conversion.<\/p>\n<p>Looking ahead, H World Group remains focused on high-quality, disciplined growth. With a robust development pipeline, continued upgrades of products and direct sales capabilities, the Group is positioned to drive long-term value and deliver consistent, sustainable performance.<\/p>\n<p>For the full release visit: <a href=\"https:\/\/ir.hworld.com\/news-releases\/news-release-details\/h-world-group-limited-reports-fourth-quarter-and-full-year-2024\" target=\"_blank\" rel=\"nofollow\">https:\/\/ir.hworld.com\/news-releases\/news-release-details\/h-world-group-limited-reports-fourth-quarter-and-full-year-2024<\/a><\/p>\n<ol type=\"1\">\n<li>Adjusted EBITDA excludes foreign exchange (gain) loss, net (gain) loss on disposal of investments, (gains) losses from fair value changes of equity securities and share-based compensation expenses.<\/li>\n<li>The conversion of\u00a0Renminbi (&#8220;RMB&#8221;) into <span class=\"xn-location\">United States<\/span> dollars (&#8220;US$&#8221;) is based on the exchange rate of <span class=\"xn-money\">US$1.00<\/span>=<span class=\"xn-money\">RMB7.2993<\/span> on <span class=\"xn-chron\">December 31, 2024<\/span>, as set forth in H.10 statistical release of the U.S. Federal Reserve Board and available at <a href=\"http:\/\/www.federalreserve.gov\/releases\/h10\/hist\/dat00_ch.htm\" target=\"_blank\" rel=\"nofollow\">http:\/\/www.federalreserve.gov\/releases\/h10\/hist\/dat00_ch.htm<\/a>.<\/li>\n<li>Legacy-Huazhu refers to H World and its subsidiaries, excluding Steigenberger Hotels GmbH and its subsidiaries<\/li>\n<li>Legacy-DH refers to Steigenberger Hotels GmbH and its subsidiaries<\/li>\n<\/ol>\n<p><b>About H World Group Limited<\/b><\/p>\n<p>Originated in <span class=\"xn-location\">China<\/span>, H World Group Limited is a key player in the global hotel industry. H World&#8217;s brands include HanTing Hotel, JI Hotel, Crystal Orange Hotel, Steigenberger Hotels &amp; Resorts, MAXX, Jaz in the City, IntercityHotel, Zleep Hotels and Steigenberger Icons. In addition, H World also has the rights as master franchisee for Mercure, Ibis and Ibis Styles, and co-development rights for Grand Mercure and Novotel, in the pan-<span class=\"xn-location\">China<\/span> region.<\/p>\n<p>For more information, please visit H World&#8217;s website: <a href=\"https:\/\/ir.hworld.com\/\" target=\"_blank\" rel=\"nofollow\">https:\/\/ir.hworld.com<\/a>.<\/p>\n<p>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.<\/p>\n<div class=\"PRN_ImbeddedAssetReference\">\n<\/div>\n<p><!-- \/wp:html --><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":[],"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[5,7],"tags":[],"class_list":["post-20259","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cision-pr-newswire","category-cision-pr-newswire-en"],"_links":{"self":[{"href":"https:\/\/thaipropertynews.com\/feeds\/index.php?rest_route=\/wp\/v2\/posts\/20259","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thaipropertynews.com\/feeds\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thaipropertynews.com\/feeds\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thaipropertynews.com\/feeds\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/thaipropertynews.com\/feeds\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=20259"}],"version-history":[{"count":0,"href":"https:\/\/thaipropertynews.com\/feeds\/index.php?rest_route=\/wp\/v2\/posts\/20259\/revisions"}],"wp:attachment":[{"href":"https:\/\/thaipropertynews.com\/feeds\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=20259"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thaipropertynews.com\/feeds\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=20259"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thaipropertynews.com\/feeds\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=20259"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}