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SINGAPORE - H World Group Limited (HK:1179) (NASDAQ: HTHT) reported fourth quarter 2024 results that exceeded revenue expectations but fell short on earnings.
The global hotel operator posted revenue of RMB6.02 billion ($825 million) in Q4, surpassing analyst estimates of RMB5.68 billion. However, earnings per share came in at RMB0.02, significantly below the RMB2.32 expected by analysts.
For the full year 2024, H World reported revenue of RMB23.9 billion ($3.3 billion), representing a 9.2% increase compared to 2023. Net income attributable to the company was RMB3.0 billion ($418 million) for 2024, down from RMB4.1 billion in 2023.
The company’s Legacy-Huazhu segment, which operates primarily in China, saw Q4 revenue increase 9.2% year-over-year to RMB4.8 billion. The Legacy-DH segment, focused on international markets, posted a 2.9% revenue gain to RMB1.2 billion in Q4.
H World opened 520 new hotels in Q4, bringing its total portfolio to 11,147 hotels with 1,088,218 rooms in operation as of December 31, 2024. The company has 3,013 hotels in its development pipeline.
For Q1 2025, H World expects revenue growth of 0-4% year-over-year, or 3-7% excluding its Legacy-DH business. The company projects opening around 2,300 new hotels in 2025 while closing approximately 600.
CEO Jin Hui commented: "Looking ahead, we will continue to carry out our asset-light strategy, pursue high-quality hotel network growth, strengthen brand positioning and ’service-excellence’, and enhance sales capability centered around our H Reward membership program."
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