Huazhu Group Limited (HTHT) Reports prelim Q3 Results

H World Group Limited (NASDAQ: HTHT), a key player in the global hotel industry, today announced preliminary results for hotel operations in the third quarter (“Q3 2023”) ended September 30, 2023.

Business updateFor our Legacy-Huazhu business, our RevPAR in Q3 2023 recovered to 129% of the 2019 level, supported by the strong travel demand. Breaking down into monthly numbers, our RevPAR in July, August and September 2023 recovered to 132%, 128% and 128% of the 2019 levels, respectively. While the RevPAR growth continued to be primarily driven by ADR growth, the occupancy rate recovery also improved sequentially this quarter. In Q3 2023, our hotel openings picked up with a gross openings of 545 hotels, and our hotel closures amounted to 139 hotels.

Steigenberger Hotels GmbH and its subsidiaries (“DH”, or “Legacy-DH”) continued its promising business recovery trend and its RevPAR recovered to 107% of the 2019 level.

Operating Results: Legacy-Huazhu(1)

Same-hotel operational data by classMature hotels in operation for more than 18 months

Operating Results: Legacy-DH(3)

Hotel Portfolio by Brand

About H World Group LimitedOriginated in China, H World Group Limited is a key player in the global hotel industry. As of September 30, 2023, H World operated 9,157 hotels with 885,756 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 September 30, 2023, H World operates 12 percent of its hotel rooms under lease and ownership model, and 88 percent under manachise and franchise model.

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: [email protected]https://ir.hworld.com

Source: H World Group Limited

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