H World Group Limited Announces Preliminary Results for Hotel Operations in the Second Quarter of 2023
25 Juillet 2023 - 12:45PM
H World Group Limited (NASDAQ: HTHT and HKEX: 1179) (“
H
World”, “
we” or “
our”),
a key player in the global hotel industry, today announced
preliminary results for hotel operations in the second quarter
(“
Q2 2023”) ended June 30, 2023.
Business updateFor our
Legacy-Huazhu business, our RevPAR in Q2 2023 recovered to 121% of
the 2019 level. The recovery continued to be supported by strong
travel demand in this quarter and was primarily driven by ADR
growth. Breaking down into monthly numbers, our RevPAR in April,
May and June 2023 recovered to 127%, 115% and 123% of the 2019
levels, respectively. During this quarter, our hotel closures were
mainly attributed to closures that were carried over from last year
due to the impact of COVID-19, as well as the continued elimination
of those lower-quality and underperforming economy hotels from our
network. Our new hotel signing gained further momentum, 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”), after
experiencing a season-related slowdown in Q1 2023, observed
promising business recovery in Q2 2023, with blended RevPAR having
recovered to 111% of the 2019 level, mainly driven by ADR
growth.
Operating Results:
Legacy-Huazhu(1)
|
Number of hotels |
|
Number of rooms |
|
Opened in Q2 2023 |
Closed (2)in Q2
2023 |
Net added in Q2 2023 |
As of June 30, 2023 |
|
As of June 30, 2023 |
|
|
Leased and owned hotels |
2 |
(6 |
) |
(4 |
) |
616 |
|
86,846 |
Manachised and franchised hotels |
372 |
(210 |
) |
162 |
|
8,006 |
|
731,399 |
Total |
374 |
(216 |
) |
158 |
|
8,622 |
|
818,245 |
(1) Legacy-Huazhu refers to H World and its
subsidiaries, excluding DH.(2) The reasons for
hotel closures mainly included non-compliance with our brand
standards, operating losses, and property-related issues. In Q2
2023, we temporarily closed 23 hotels for brand upgrade or business
model change purposes. |
|
As of June 30, 2023 |
|
Number of hotels |
Unopened hotels in pipeline |
Economy hotels |
4,856 |
1,079 |
Leased and owned hotels |
345 |
1 |
Manachised and franchised hotels |
4,511 |
1,078 |
Midscale and upscale hotels |
3,766 |
1,729 |
Leased and owned hotels |
271 |
14 |
Manachised and franchised hotels |
3,495 |
1,715 |
Total |
8,622 |
2,808 |
|
For the quarter ended |
|
|
June 30, |
March 31, |
June 30, |
yoy |
|
2022 |
2023 |
2023 |
change |
Average daily room rate (in RMB) |
|
|
|
|
Leased and owned hotels |
243 |
|
337 |
|
384 |
|
57.7 |
% |
Manachised and franchised hotels |
215 |
|
269 |
|
295 |
|
37.3 |
% |
Blended |
218 |
|
277 |
|
305 |
|
39.8 |
% |
Occupancy rate (as a percentage) |
|
|
|
|
Leased and owned hotels |
62.9 |
% |
76.3 |
% |
83.6 |
% |
+20.7 p.p. |
Manachised and franchised hotels |
64.9 |
% |
75.5 |
% |
81.6 |
% |
+16.7 p.p. |
Blended |
64.6 |
% |
75.6 |
% |
81.8 |
% |
+17.2 p.p. |
RevPAR (in RMB) |
|
|
|
|
Leased and owned hotels |
153 |
|
257 |
|
321 |
|
109.7 |
% |
Manachised and franchised hotels |
139 |
|
203 |
|
241 |
|
72.8 |
% |
Blended |
141 |
|
210 |
|
250 |
|
77.0 |
% |
|
For the quarter ended |
|
June 30, |
June 30, |
yoy |
|
2019 |
2023 |
change |
Average daily room rate (in RMB) |
|
|
|
Leased and owned hotels |
281 |
|
384 |
|
36.4 |
% |
Manachised and franchised hotels |
225 |
|
295 |
|
30.9 |
% |
Blended |
236 |
|
305 |
|
28.9 |
% |
Occupancy rate (as a percentage) |
|
|
|
Leased and owned hotels |
89.4 |
% |
83.6 |
% |
-5.8 p.p. |
Manachised and franchised hotels |
86.3 |
% |
81.6 |
% |
-4.7 p.p. |
Blended |
86.9 |
% |
81.8 |
% |
-5.1 p.p. |
RevPAR (in RMB) |
|
|
|
Leased and owned hotels |
252 |
|
321 |
|
27.6 |
% |
Manachised and franchised hotels |
194 |
|
241 |
|
23.8 |
% |
Blended |
206 |
|
250 |
|
21.4 |
% |
Same-hotel operational data by class |
|
|
|
|
|
|
|
|
Mature hotels in operation for more than 18
months |
|
Number of hotels |
Same-hotel RevPAR |
Same-hotel ADR |
Same-hotel Occupancy |
|
As ofJune 30, |
For the quarter |
yoy |
For the quarter |
yoy |
For the quarter |
yoy |
|
ended June 30, |
change |
ended June 30, |
change |
ended June 30, |
change |
|
2022 |
2023 |
2022 |
2023 |
|
2022 |
2023 |
|
2022 |
2023 |
(p.p.) |
Economy hotels |
3,567 |
3,567 |
118 |
192 |
63.1 |
% |
168 |
231 |
37.3 |
% |
70.1 |
% |
83.3 |
% |
+13.2 |
Leased and owned hotels |
325 |
325 |
124 |
237 |
90.4 |
% |
178 |
277 |
55.2 |
% |
69.7 |
% |
85.5 |
% |
+15.8 |
Manachised and franchised hotels |
3,242 |
3,242 |
117 |
186 |
58.8 |
% |
167 |
224 |
34.3 |
% |
70.2 |
% |
83.0 |
% |
+12.8 |
Midscale and upscale hotels |
2,624 |
2,624 |
176 |
309 |
75.6 |
% |
284 |
378 |
33.4 |
% |
62.1 |
% |
81.7 |
% |
+19.6 |
Leased and owned hotels |
253 |
253 |
194 |
395 |
104.1 |
% |
339 |
479 |
41.3 |
% |
57.2 |
% |
82.6 |
% |
+25.5 |
Manachised and franchised hotels |
2,371 |
2,371 |
173 |
295 |
70.3 |
% |
276 |
362 |
31.2 |
% |
62.8 |
% |
81.6 |
% |
+18.8 |
Total |
6,191 |
6,191 |
146 |
251 |
71.8 |
% |
221 |
304 |
37.9 |
% |
66.2 |
% |
82.5 |
% |
+16.3 |
Operating Results:
Legacy-DH(3)
|
Number of hotels |
|
Number of rooms |
|
Unopened hotels in pipeline |
|
Opened in Q2 2023 |
Closedin Q2 2023 |
Net added in Q2 2023 |
As of June 30,
2023(4) |
|
As of June 30, 2023 |
|
As ofJune 30, 2023 |
|
Leased hotels |
- |
- |
- |
80 |
|
15,497 |
|
26 |
Manachised and franchised hotels |
- |
- |
- |
48 |
|
10,675 |
|
11 |
Total |
- |
- |
- |
128 |
|
26,172 |
|
37 |
(3) Legacy-DH refers to DH.
(4) As of June 30, 2023, a total of 3 hotels were
temporarily closed. 1 hotel was closed due to flood damage, 1 hotel
was closed due to repair work, and 1 hotel was not in operation due
to a legal proceeding in progress. |
|
For the quarter ended |
|
|
June 30, |
March 31, |
June 30, |
yoy |
|
2022 |
2023 |
2023 |
change |
Average daily room rate (in EUR) |
|
|
|
|
Leased hotels |
113 |
|
108 |
|
119 |
|
6.1 |
% |
Manachised and franchised hotels |
107 |
|
97 |
|
112 |
|
5.0 |
% |
Blended |
110 |
|
104 |
|
117 |
|
5.6 |
% |
Occupancy rate (as a percentage) |
|
|
|
|
Leased hotels |
61.2 |
% |
53.0 |
% |
69.4 |
% |
+8.2 p.p. |
Manachised and franchised hotels |
57.9 |
% |
54.1 |
% |
63.8 |
% |
+5.9 p.p. |
Blended |
59.8 |
% |
53.5 |
% |
67.1 |
% |
+7.3 p.p. |
RevPAR (in EUR) |
|
|
|
|
Leased hotels |
69 |
|
57 |
|
83 |
|
20.3 |
% |
Manachised and franchised hotels |
62 |
|
53 |
|
71 |
|
15.7 |
% |
Blended |
66 |
|
55 |
|
78 |
|
18.5 |
% |
Hotel Portfolio by Brand
|
As of June 30, 2023 |
|
Hotels |
Rooms |
Unopened hotels |
|
in operation |
in pipeline |
Economy hotels |
4,872 |
392,231 |
1,092 |
HanTing Hotel |
3,340 |
297,682 |
700 |
Hi Inn |
442 |
23,650 |
160 |
Ni Hao Hotel |
213 |
15,583 |
188 |
Elan Hotel |
642 |
31,102 |
1 |
Ibis Hotel |
219 |
22,318 |
30 |
Zleep Hotels |
16 |
1,896 |
13 |
Midscale hotels |
3,106 |
337,349 |
1,354 |
Ibis Styles Hotel |
92 |
9,390 |
32 |
Starway Hotel |
598 |
51,888 |
225 |
JI Hotel |
1,839 |
214,630 |
838 |
Orange Hotel |
577 |
61,441 |
259 |
Upper midscale hotels |
618 |
88,649 |
331 |
Crystal Orange Hotel |
167 |
21,748 |
84 |
CitiGo Hotel |
34 |
5,326 |
5 |
Manxin Hotel |
121 |
11,477 |
62 |
Madison Hotel |
64 |
8,202 |
62 |
Mercure Hotel |
148 |
24,667 |
62 |
Novotel Hotel |
20 |
5,114 |
15 |
IntercityHotel(5) |
56 |
10,742 |
36 |
MAXX (6) |
8 |
1,373 |
5 |
Upscale hotels |
129 |
20,644 |
60 |
Jaz in the City |
3 |
587 |
1 |
Joya Hotel |
7 |
1,234 |
- |
Blossom House |
56 |
2,605 |
46 |
Grand Mercure Hotel |
9 |
1,823 |
4 |
Steigenberger Hotels & Resorts(7) |
54 |
14,395 |
9 |
Luxury hotels |
16 |
2,360 |
2 |
Steigenberger Icon(8) |
9 |
1,847 |
1 |
Song Hotels |
7 |
513 |
1 |
Others |
9 |
3,184 |
6 |
Other hotels(9) |
9 |
3,184 |
6 |
Total |
8,750 |
844,417 |
2,845 |
(5) As of June 30, 2023, 5 operational hotels and
22 pipeline hotels of IntercityHotel were in
China.(6) As of June 30, 2023, 3 operational
hotels and 5 pipeline hotels of MAXX were in
China.(7) As of June 30, 2023, 11 operational
hotels and 3 pipeline hotels of Steigenberger Hotels & Resorts
were in China.(8) As of June 30, 2023, 3
operational hotels of Steigenberger Icon were in
China.(9) Other hotels include other partner
hotels and other hotel brands in Yongle Huazhu Hotel & Resort
Group (excluding Steigenberger Hotels & Resorts and Blossom
House). |
About H World Group
LimitedOriginated in China, H World Group Limited is a key
player in the global hotel industry. As of June 30, 2023, H World
operated 8,750 hotels with 844,417 rooms in operation in 18
countries. 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. As of June 30, 2023, H World operates 12 percent of its
hotel rooms under lease and ownership model, and 88 percent under
manachise and franchise models.
For more information, please visit H World’s
website: https://ir.hworld.com.
Safe Harbor Statement Under the U.S. Private
Securities Litigation Reform Act of 1995: The information in this
release contains forward-looking statements which involve risks and
uncertainties. Such factors and risks include our anticipated
growth strategies; our future results of operations and financial
condition; economic conditions; the regulatory environment; our
ability to attract and retain customers and leverage our brands;
trends and competition in the lodging industry; the expected growth
of demand for lodging; and other factors and risks detailed in our
filings with the U.S. Securities and Exchange Commission. Any
statements contained herein that are not statements of historical
fact may be deemed to be forward-looking statements, which may be
identified by terminology such as “may,” “should,” “will,”
“expect,” “plan,” “intend,” “anticipate,” “believe,” “estimate,”
“predict,” “potential,” “forecast,” “project” or “continue,” the
negative of such terms or other comparable terminology. Readers
should not rely on forward-looking statements as predictions of
future events or results.
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.
Contact InformationInvestor RelationsTel: +86 (21) 6195
9561Email: ir@hworld.comhttps://ir.hworld.com
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