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In the first quarter of 2024, H World Group, known for its Legacy-Huazhu hotels, demonstrated a strong operational performance with a notable increase in revenu

H World Group's Impressive Q1 Performance: A Strong Start to 2024

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Image credit: Joshua Mayo

In the first quarter of 2024, H World Group, known for its Legacy-Huazhu hotels, demonstrated a strong operational performance with a notable increase in revenue and net income. The group's blended RevPAR (Revenue Per Available Room) grew by 3.1% year-over-year (YoY) to RMB 216, and the company expanded its hotel portfolio by opening 569 new hotels while closing 148.

Financially, H World Group's hotel turnover surged by 21% YoY to RMB 19.7 billion, with total revenue climbing 18% to RMB 5.3 billion. Adjusted EBITDA for Legacy-Huazhu rose by 32% YoY to RMB 1.5 billion, and adjusted net income soared by 101% YoY to RMB 771 million. The group maintains a solid cash position with RMB 8.9 billion on hand.

Key Takeaways:

  • Blended RevPAR increased by 3.1% YoY to RMB 216.
  • 569 new hotels were launched; 148 were closed, expanding the network.
  • Hotel turnover grew by 21% YoY to RMB 19.7 billion; total revenue up 18% to RMB 5.3 billion.
  • Adjusted EBITDA for Legacy-Huazhu increased by 32% YoY to RMB 1.5 billion.
  • Adjusted net income for the group increased by 101% YoY to RMB 771 million.
  • A strong cash position with RMB 8.9 billion in reserves.

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