H World Group Limited Announces Preliminary Results for Hotel Operations in the Third Quarter of 2023
2023年10月20日 - 7:15PM
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 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)
|
Number of hotels |
|
Number of rooms |
|
Opened in Q3 2023 |
Closed (2)in Q3
2023 |
Net added in Q3 2023 |
As of September 30,2023 |
|
As of September 30,2023 |
|
Leased and owned hotels |
4 |
|
(12 |
) |
(8 |
) |
608 |
|
|
87,026 |
|
Manachised and franchised hotels |
541 |
|
(127 |
) |
414 |
|
8,420 |
|
|
772,258 |
|
Total |
545 |
|
(139 |
) |
406 |
|
9,028 |
|
|
859,284 |
|
(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 Q3 2023, we temporarily closed 8
hotels for brand upgrade or business model change purposes. |
|
As of September 30, 2023 |
|
Number of hotels |
|
Unopened hotels in pipeline |
|
Economy hotels |
4,992 |
|
1,084 |
|
Leased and owned hotels |
334 |
|
1 |
|
Manachised and franchised hotels |
4,658 |
|
1,083 |
|
Midscale, upper-midscale hotels and others |
4,036 |
|
1,851 |
|
Leased and owned hotels |
274 |
|
14 |
|
Manachised and franchised hotels |
3,762 |
|
1,837 |
|
Total |
9,028 |
|
2,935 |
|
|
|
For the quarter ended |
|
September 30, |
June 30, |
September 30, |
yoy |
|
2022 |
2023 |
2023 |
change |
Average daily room rate (in RMB) |
|
|
|
|
Leased and owned hotels |
294 |
|
384 |
|
406 |
|
38.1 |
% |
Manachised and franchised hotels |
248 |
|
295 |
|
314 |
|
26.4 |
% |
Blended |
254 |
|
305 |
|
324 |
|
27.7 |
% |
Occupancy rate (as a percentage) |
|
|
|
|
Leased and owned hotels |
73.1 |
% |
83.6 |
% |
87.8 |
% |
+14.7 p.p. |
Manachised and franchised hotels |
76.4 |
% |
81.6 |
% |
85.7 |
% |
+9.2 p.p. |
Blended |
76.0 |
% |
81.8 |
% |
85.9 |
% |
+9.8 p.p. |
RevPAR (in RMB) |
|
|
|
|
Leased and owned hotels |
215 |
|
321 |
|
356 |
|
65.8 |
% |
Manachised and franchised hotels |
190 |
|
241 |
|
269 |
|
41.7 |
% |
Blended |
193 |
|
250 |
|
278 |
|
44.3 |
% |
|
|
For the quarter ended |
|
September 30, |
September 30, |
yoy |
|
2019 |
2023 |
change |
Average daily room rate (in RMB) |
|
|
|
Leased and owned hotels |
288 |
|
406 |
|
41.0 |
% |
Manachised and franchised hotels |
235 |
|
314 |
|
33.4 |
% |
Blended |
245 |
|
324 |
|
32.1 |
% |
Occupancy rate (as a percentage) |
|
|
|
Leased and owned hotels |
90.0 |
% |
87.8 |
% |
-2.3 p.p. |
Manachised and franchised hotels |
87.2 |
% |
85.7 |
% |
-1.5 p.p. |
Blended |
87.7 |
% |
85.9 |
% |
-1.8 p.p. |
RevPAR (in RMB) |
|
|
|
Leased and owned hotels |
259 |
|
356 |
|
37.5 |
% |
Manachised and franchised hotels |
205 |
|
269 |
|
31.1 |
% |
Blended |
215 |
|
278 |
|
29.4 |
% |
|
|
Same-hotel operational data by
classMature hotels in operation for more than 18
months
|
Number of hotels |
Same-hotel RevPAR |
Same-hotel ADR |
Same-hotel Occupancy |
|
As ofSeptember 30, |
For the quarter ended
September 30, |
yoychange |
For the quarter ended
September 30, |
yoychange |
For the quarterended
September 30, |
yoychange(p.p.) |
|
|
2022 |
2023 |
2022 |
2023 |
|
2022 |
2023 |
|
2022 |
2023 |
Economy hotels |
3,669 |
|
3,669 |
|
154 |
|
216 |
|
40.1 |
% |
192 |
|
247 |
|
28.8 |
% |
80.3 |
% |
87.3 |
% |
+7.1 |
|
Leased and owned hotels |
322 |
|
322 |
|
167 |
|
263 |
|
57.7 |
% |
213 |
|
295 |
|
38.9 |
% |
78.4 |
% |
89.0 |
% |
+10.6 |
|
Manachised and franchised hotels |
3,347 |
|
3,347 |
|
152 |
|
209 |
|
37.3 |
% |
189 |
|
240 |
|
26.9 |
% |
80.5 |
% |
87.1 |
% |
+6.6 |
|
Midscale, upper-midscale hotels and others |
2,797 |
|
2,797 |
|
244 |
|
343 |
|
41.0 |
% |
325 |
|
399 |
|
22.5 |
% |
74.8 |
% |
86.1 |
% |
+11.3 |
|
Leased and owned hotels |
254 |
|
254 |
|
270 |
|
439 |
|
62.5 |
% |
390 |
|
504 |
|
29.1 |
% |
69.2 |
% |
87.1 |
% |
+17.9 |
|
Manachised and franchised hotels |
2,543 |
|
2,543 |
|
240 |
|
329 |
|
37.3 |
% |
317 |
|
383 |
|
20.8 |
% |
75.7 |
% |
86.0 |
% |
+10.3 |
|
Total |
6,466 |
|
6,466 |
|
199 |
|
281 |
|
41.1 |
% |
257 |
|
324 |
|
26.2 |
% |
77.5 |
% |
86.7 |
% |
+9.2 |
|
|
|
Operating
Results: Legacy-DH(3)
|
Number of hotels |
Number of rooms |
Unopened hotels in pipelineAs
ofSeptember 30, 2023 |
|
|
Opened in Q3 2023 |
Closedin Q3 2023 |
Net added in Q3 2023 |
As of September 30,
2023(4) |
|
As of September 30, 2023 |
|
|
|
|
|
|
Leased hotels |
2 |
|
- |
|
2 |
|
82 |
|
15,961 |
|
24 |
|
Manachised and franchised hotels |
- |
|
(1 |
) |
(1 |
) |
47 |
|
10,511 |
|
11 |
|
Total |
2 |
|
(1 |
) |
1 |
|
129 |
|
26,472 |
|
35 |
|
(3) Legacy-DH refers to DH. (4) As of September 30, 2023,
a total of 3 hotels were temporarily closed due to repair
work. |
|
|
For the quarter ended |
|
September 30, |
June 30, |
September 30, |
yoy |
|
2022 |
2023 |
2023 |
change |
Average daily room rate (in EUR) |
|
|
|
|
Leased hotels |
113 |
|
119 |
|
113 |
|
0.0 |
% |
Manachised and franchised hotels |
116 |
|
112 |
|
116 |
|
0.3 |
% |
Blended |
114 |
|
117 |
|
114 |
|
0.1 |
% |
Occupancy rate (as a percentage) |
|
|
|
|
Leased hotels |
67.4 |
% |
69.4 |
% |
71.4 |
% |
+4.0 p.p. |
Manachised and franchised hotels |
64.1 |
% |
63.8 |
% |
65.5 |
% |
+1.4 p.p. |
Blended |
66.1 |
% |
67.1 |
% |
69.0 |
% |
+2.9 p.p. |
RevPAR (in EUR) |
|
|
|
|
Leased hotels |
76 |
|
83 |
|
81 |
|
5.9 |
% |
Manachised and franchised hotels |
74 |
|
71 |
|
76 |
|
2.4 |
% |
Blended |
75 |
|
78 |
|
79 |
|
4.5 |
% |
|
|
Hotel Portfolio by Brand
|
As of September 30, 2023 |
|
Hotels |
Rooms |
Unopened hotelsin pipeline |
|
in operation |
Economy hotels |
5,007 |
|
405,226 |
|
1,097 |
|
HanTing Hotel |
3,500 |
|
311,067 |
|
700 |
|
Hi Inn |
461 |
|
24,272 |
|
180 |
|
Ni Hao Hotel |
247 |
|
18,369 |
|
181 |
|
Elan Hotel |
561 |
|
27,244 |
|
1 |
|
Ibis Hotel |
223 |
|
22,541 |
|
22 |
|
Zleep Hotels |
15 |
|
1,733 |
|
13 |
|
Midscale hotels |
3,329 |
|
359,600 |
|
1,432 |
|
Ibis Styles Hotel |
98 |
|
9,893 |
|
29 |
|
Starway Hotel |
636 |
|
54,705 |
|
229 |
|
JI Hotel |
1,980 |
|
229,990 |
|
890 |
|
Orange Hotel |
615 |
|
65,012 |
|
284 |
|
Upper midscale hotels |
663 |
|
94,523 |
|
369 |
|
Crystal Orange Hotel |
175 |
|
22,876 |
|
108 |
|
CitiGO Hotel |
35 |
|
5,301 |
|
3 |
|
Manxin Hotel |
127 |
|
11,994 |
|
70 |
|
Madison Hotel |
80 |
|
10,447 |
|
57 |
|
Mercure Hotel |
157 |
|
25,907 |
|
56 |
|
Novotel Hotel |
21 |
|
5,415 |
|
18 |
|
IntercityHotel(5) |
59 |
|
11,326 |
|
53 |
|
MAXX(6) |
9 |
|
1,257 |
|
4 |
|
Upscale hotels |
132 |
|
20,789 |
|
64 |
|
Jaz in the City |
3 |
|
587 |
|
1 |
|
Joya Hotel |
7 |
|
1,234 |
|
- |
|
Blossom House |
59 |
|
2,750 |
|
51 |
|
Grand Mercure Hotel |
9 |
|
1,823 |
|
3 |
|
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 |
10 |
|
3,258 |
|
6 |
|
Other hotels(9) |
10 |
|
3,258 |
|
6 |
|
Total |
9,157 |
|
885,756 |
|
2,970 |
|
(5) As of September 30, 2023, 6 operational hotels and 41 pipeline
hotels of IntercityHotel were in China.(6) As of September 30,
2023, 4 operational hotels and 4 pipeline hotels of MAXX were in
China.(7) As of September 30, 2023, 11 operational hotels and
3 pipeline hotels of Steigenberger Hotels & Resorts were in
China.(8) As of September 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 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: ir@hworld.comhttps://ir.hworld.com
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