RevPAR Recovers To 121%
Of The 2019 Level
HONG
KONG, July 26, 2023 /PRNewswire/ -- H World
Group Limited ("H World" or "the Group",
NASDAQ: HTHT and HKEX: 1179) announced its preliminary results
for hotel operations in the second quarter ended 30 June 2023 ("Q2 2023").
As of 30 June 2023, H World
operates 8,750 hotels with 844,417 rooms in 18 different
countries. For the Legacy-Huazhu business, the
RevPAR recovered significantly to 121% of the 2019 level,
benefiting from the strong recovery of demand for domestic
travel. The RevPAR in April, May and June 2023 recovered to 127%, 115% and 123% of the
2019 levels, respectively. The hotel closures were mainly
attributed to closures that were carried over due to the impact of
COVID-19, and continuous effort to eliminate lower-quality and
underperforming economy hotels. Legacy-Huazhu opened 374 new
hotels, which was broadly in line with growth expectations.
Meanwhile, Legacy-Huazhu maintained strong growth in new hotel
signings, reaching over 1,000 new hotels during this quarter, which
reflected the rising confidence level of franchisees.
Steigenberger Hotels GmbH and its subsidiaries ("DH" or
"Legacy-DH"), driven by an increase in the ADR, recorded
restorative growth in Q2 2023, with RevPAR having recovered to 111%
of the 2019 level.
As a leading player in the hotel industry, H World has
maintained a steady momentum of growth as it continues to seek
certainty in a market full of uncertainties. The Group has been
adhering to a sustainable quality growth strategy and has continued
to expand its hotel network through its anchor brands in the
economy and midscale segments. Moreover, its multi-brand strategy
in the upper midscale segment has also experienced the same boost
in growth. Through the continued upgrades made to the platforms
organization and digital operation systems, better products and
services were consistently made to its customers and franchisees,
leading the hotel industry to experience new vitality. In addition,
H World continues to fulfil its social responsibility as an
industry leader and to create value in the areas of sustainable
development, social welfare and talent cultivation, to create
sustainable and high-quality growth for investors and the entire
ecosystem and bring long-term stable returns to shareholders.
About H World Group Limited:
Originated in China, H World
Group Limited is a key player in the global hotel industry. H
World's brands include Hi Inn, Elan Hotel, HanTing Hotel, JI Hotel,
Starway Hotel, Orange Hotel, Crystal Orange Hotel, Manxin Hotel,
Madison Hotel, Joya Hotel, Blossom
House, Ni Hao Hotel, CitiGO Hotel, Steigenberger Hotels
& Resorts, MAXX, Jaz in the City, IntercityHotel, Zleep Hotels,
Steigenberger Icon and Song Hotels. 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-China region.
H World's business includes leased and owned, manachised and
franchised models. Under the lease and ownership model, H World
directly operates hotels typically located on leased or owned
properties. Under the manachise model, H World manages manachised
hotels through the on-site hotel managers that H World appoints,
and H World collects fees from franchisees. Under the franchise
model, H World provides training, reservations and support services
to the franchised hotels, and collects fees from franchisees but
does not appoint on-site hotel managers. H World applies a
consistent standard and platform across all of its hotels.
For more information, please visit H World's website:
https://ir.hworld.com.
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SOURCE H World Group Limited