事件 8 月 20 日公司公告 2Q24 业绩，收入 61 亿元/+11.2%，归母净利 10.7 亿元/+5.1%，经调整净利 12.5 亿元/+16.9%，经调整 EBITDA 20.4 亿元/+15.1%。 点评 经营数据：Q2 境内高基数下 OCC 仍有增长，境外量价同比均有提 升。LH 2Q24 RevPAR 244 元/-2.0%、为 19 年同期 118.4%，恢复 度环比 Q1-2.9pct，行业淡季压力较大情况下表现持续领先；拆分 量价，OCC 82.6%/+0.7pct、ADR 296 元/-2.9%；拆分结构，Q2 成 熟店整体/经济型/中高端 RevPAR 同比-3.6%/-4.2%/-3.2%。DH 2Q24 RevPAR 82 欧元/+4.5%、恢复至 19 年同期 115.5%，受益于 6 月世界杯；拆分看 OCC 68.3%/+1.2pct，ADR 120 欧元/+2.7%。 Q2 收入增速略好于指引，Q3 预期增长 2~5%。2Q24 收入增速较此 前季报公告指引上限 11%略高，其中 LH 收入 48.3 亿元/+11.1%， DH 收入 13.2 亿元/+11.6%。成本 ...

Investment Rating - The investment rating for the company is "Buy" (maintained) [7] Core Views - The company has achieved revenue at the upper limit of its guidance and has raised its annual store opening target to 2,200 [10] - The company is expected to generate revenues of 242.4 billion, 260.5 billion, and 280.3 billion CNY for 2024, 2025, and 2026 respectively, with corresponding growth rates of 10.7%, 7.6%, and 7.6% [10][11] - The net profit attributable to the parent company is projected to be 42.5 billion, 49.1 billion, and 56.7 billion CNY for the same years, with a three-year CAGR of 11.6% [10][11] - The company maintains a strong market position with significant brand and operational strength, indicating substantial room for domestic store penetration, brand elevation, and globalization [10] Financial Data Summary - For 2024, the company is expected to achieve an EBITDA of 6,249 million CNY and a net profit of 4,254 million CNY, with a P/E ratio of 15 [11] - The company reported a revenue of 61 billion CNY in Q2 2024, reflecting a year-on-year increase of 11.2%, with a net profit of 11 billion CNY, up 5.1% year-on-year [10] - The company’s gross margin improved to 39.3% in Q2 2024, an increase of 2.3 percentage points year-on-year [10] - The company has reached a milestone of 10,000 hotels and has a reserve of 3,266 stores, supporting its expansion plans [10]

Financial Data and Key Metrics - Legacy-Huazhu's RevPAR in Q2 2024 was RMB244, down 2% YoY, with ADR at RMB296, down 2.9% YoY, and occupancy rate at 82.6%, up 0.7 percentage points YoY [7] - Total revenue for the group increased 11% YoY to RMB6.1 billion, with Legacy-Huazhu revenue growing 11% YoY to RMB4.8 billion and Legacy-DH revenue rising 12% YoY to RMB1.3 billion [22] - Adjusted EBITDA increased 15% YoY to RMB2 billion, with Legacy-Huazhu's adjusted EBITDA growing 14% YoY to RMB1.9 billion and DH business generating RMB131 million adjusted EBITDA, turning profitable from a loss position [25][26] Business Line Performance - The company opened 567 new hotels in Q2 2024, with 101 hotel closures, and the number of hotels in the pipeline reached a record high of 3,266 [11] - Economy and middle-scale hotels accounted for 92%, 82%, and 89% of hotels in operation, hotels in pipeline, and hotel openings, respectively [12] - The proportion of HanTing 3.5 and above versions in operation increased to 36.3% in Q2 2024, up 6.5 percentage points compared to the end of last year [12] Market Performance - Domestic airline passengers increased 16.4% YoY and 12.4% compared to the same period in 2019, while high-speed railway passengers reached a record high of 2.1 billion, up 18.4% YoY [8] - The number of room nights sold in China increased by approximately 21% YoY, with occupancy rate increasing by 0.7 percentage points YoY [9] - DH RevPAR in Q2 2024 was EUR 82, up 4.5% YoY, driven by a 2.7% increase in ADR to EUR 120 and a 1.2 percentage point increase in occupancy rate to 68.3% [18] Company Strategy and Industry Competition - The company aims to achieve 20,000 hotels in 2,000 cities, focusing on service excellence-centric, sustainable quality growth strategy [6] - The company is focusing on product upgrades, service excellence, and membership programs to strengthen core competitive advantages and drive long-term sustainable growth [10] - The company is repositioning its HI Inn brand to focus on ultimate value for money, with a new HI Inn 6.0 version designed to meet customers' core accommodation needs [16] Management Commentary on Operating Environment and Future Outlook - The company expects RevPAR to gradually return to a healthier and sustainable growth trend, with Q3 2024 RevPAR expected to decline around mid-single digit YoY [30] - The company revised up its full-year growth hotel opening target to over 2,200 hotels, up from the previous guidance of around 1,800 hotels [27] - The company remains focused on lower-tier cities penetration and upper mid-segment penetration, with confidence in maintaining a strong competitive advantage in the industry [32] Other Important Information - The company announced a 3-year shareholder return plan with an aggregate amount of up to US$2 billion, including semi-annual ordinary dividends, special dividends, and share buybacks [27] - The company had RMB9.9 billion in cash, cash equivalents, restricted cash, and time deposits as of the end of June 2024, with a solid net cash position of RMB4.3 billion [26] Q&A Session Question: RevPAR expectations for Q3 2024 and full year 2024 - The company expects Q3 2024 RevPAR to decline around mid-single digit YoY, with a gradual return to a healthier and sustainable growth trend [30] Question: Investment appetite for franchisees - The company remains confident in franchisee sentiment, focusing on lower-tier cities penetration and upper mid-segment penetration, with a strong pipeline and high-quality growth strategy [32] Question: Hotel opening capacity and supply chain progress - The company is improving supply chain capability by replacing higher-quality suppliers and improving efficiency, with a focus on high-quality growth over scale [35][36] Question: Hotel supply impact on RevPAR and margins - The company believes the supply and demand will balance, with a focus on high-quality supply and maintaining core competitiveness through service excellence and product upgrades [38][41] Question: DH long-term targets and strategy - The company is focusing on asset-light transformation, cost control, and efficiency improvement for DH, with plans to leverage DH's brand and product in the Middle East and Asia Pacific [40]

Investment Rating - Buy (Maintained) [1] Core Views - Q2 revenue slightly exceeded guidance with an 11.2% YoY growth, driven by the turnaround of overseas business DH, contributing to a net profit of RMB 1.067 billion, up 5% YoY [3] - Mainland business revenue grew 11.1% YoY, contributing RMB 1.033 billion in net profit, while DH segment revenue grew 11.6% YoY, turning a profit of RMB 34 million compared to a loss of RMB 174 million in the same period last year [3] - Adjusted EBITDA for Q2 was RMB 2 billion, up 11% YoY, and adjusted net profit was RMB 1.25 billion, up 17% YoY [3] - Mainland store openings exceeded expectations, with 10,150 stores by the end of Q2 2024, up 18% YoY, and a record high of 3,258 reserve stores [3] - RevPAR declined 2.4% YoY in Q2 due to a high base, with Q3 revenue growth guidance of 2-5% [3] - The company announced a USD 1 billion share repurchase plan over five years in July [3] Financial Forecasts and Valuation - Revenue is projected to grow from RMB 23.945 billion in 2024E to RMB 28.845 billion in 2026E, with a CAGR of 9.43% to 9.74% [2] - Net profit attributable to shareholders is forecasted to be RMB 3.702 billion in 2024E, RMB 4.068 billion in 2025E, and RMB 4.484 billion in 2026E [2] - EPS is expected to be RMB 1.15 in 2024E, RMB 1.27 in 2025E, and RMB 1.40 in 2026E [2] - P/E ratios are projected at 17.91x for 2024E, 16.30x for 2025E, and 14.79x for 2026E [2] Mainland Business Performance - Mainland store count reached 10,150 by Q2 2024, with 94% being franchised stores [3] - Q2 saw 567 new store openings and 466 net openings, with the full-year new store target revised upward from 1,800 to 2,200 [3] - Mainland room count reached 974,000, up 19% YoY, with franchised rooms accounting for 889,000, up 21.6% YoY [3] RevPAR and Revenue Guidance - Q2 RevPAR was RMB 244, down 2.4% YoY, with occupancy rate (OCC) at 82.6%, up 0.8 ppts YoY, and ADR at RMB 296, down 3.0% YoY [3] - Q3 revenue growth is guided at 2-5%, with RevPAR expected to decline by high single digits [3] Market Data - Closing price: HKD 22.55 [5] - 52-week low/high: HKD 20.80/HKD 36.30 [5] - P/B ratio: 5.75x [5] - Market cap: HKD 72.394 billion [5] Financial Ratios - ROIC: 16.32% in 2023A, projected to be 16.87% in 2024E [8] - ROE: 33.66% in 2023A, expected to decline to 18.38% by 2026E [8] - Gross margin: 34.46% in 2023A, projected to remain stable around 35.57-35.77% from 2024E to 2026E [8]

Company Performance - H World Group reported quarterly earnings of $0.46 per share, missing the Zacks Consensus Estimate of $0.52 per share, but showing an increase from $0.43 per share a year ago, resulting in an earnings surprise of -11.54% [1] - The company posted revenues of $846 million for the quarter ended June 2024, surpassing the Zacks Consensus Estimate by 0.73% and increasing from $762 million year-over-year [1] - Over the last four quarters, H World Group has surpassed consensus EPS estimates two times and topped consensus revenue estimates three times [1] Market Performance - H World Group shares have declined approximately 13.2% since the beginning of the year, contrasting with the S&P 500's gain of 17.6% [2] - The current Zacks Rank for H World Group is 3 (Hold), indicating that the shares are expected to perform in line with the market in the near future [4] Future Outlook - The current consensus EPS estimate for the upcoming quarter is $0.61 on revenues of $922.48 million, and for the current fiscal year, it is $1.81 on revenues of $3.31 billion [4] - The estimate revisions trend for H World Group is mixed, and changes in estimates for the coming quarters and current fiscal year are anticipated following the recent earnings report [4] Industry Context - The Hotels and Motels industry, to which H World Group belongs, is currently ranked in the bottom 44% of over 250 Zacks industries, suggesting potential challenges ahead [5] - The performance of H World Group's stock may be influenced by the overall outlook for the industry [5]

Revenue Growth, Enhanced Profitability, and Milestone Reached in Hotel NetworkHONG KONG, Aug. 20, 2024 /PRNewswire/ -- H World Group Limited ("H World" or "the Group", NASDAQ: HTHT and HKEX: 1179.HK) announced its unaudited financial results for the second quarter ("Q2 2024") and interim period ended June 30, 2024.In the first half of the year, revenue increased by 14.1% year-over-year, with second quarter revenue growth slightly exceeding the upper limit of guidance.H World continues to prioritize customer ...

A total of 10,286 hotels or 1,001,865 hotel rooms in operation as of June 30, 2024.Hotel turnover1 increased 15.5% year-over-year to RMB23.4 billion in the second quarter of 2024. Excluding Steigenberger Hotels GmbH and its subsidiaries (“DH”, or “Legacy-DH”), hotel turnover from the Legacy-Huazhu segment increased 16.2% year-over-year in the second quarter of 2024; and hotel turnover from the Legacy-DH segment increased 7.8% year-over-year in the second quarter of 2024. Revenue increased 11.2% year-over-ye ...

Hotel Operations and Performance - H World Group's total operating hotels reached 10,286, with 1,001,865 operating rooms as of June 30, 2024[2] - Legacy-Huazhu's occupancy rate in Q2 2024 was 82.6%, up from 81.8% in Q2 2023 and 77.2% in the previous quarter[5] - Legacy-Huazhu's blended RevPAR in Q2 2024 was RMB 244, compared to RMB 250 in Q2 2023 and RMB 216 in the previous quarter[5] - Same-store RevPAR for Legacy-Huazhu hotels operating for at least 18 months decreased by 3.6% YoY to RMB 248 in Q2 2024[5] - Legacy-DH operates 136 hotels with 27,552 rooms, including 16,789 leased rooms and 10,763 managed and franchised rooms as of June 30, 2024[6] - Legacy-DH's average daily rate (ADR) increased to €120 in Q2 2024, up from €117 in Q2 2023 and €104 in Q1 2024[6] - Legacy-DH's occupancy rate reached 68.3% in Q2 2024, compared to 67.1% in Q2 2023 and 55.8% in Q1 2024[6] - Legacy-DH's revenue per available room (RevPAR) was €82 in Q2 2024, up from €78 in Q2 2023 and €58 in Q1 2024[6] - The number of hotels in operation as of June 30, 2024, was 10,150, with a total of 974,313 rooms[38] - The company closed 101 hotels in Q2 2024, with 12 temporarily closed for brand upgrades or business model changes[39] - The company added a net of 466 hotels in Q2 2024, with 472 net additions from managed and franchised hotels[38] - Total number of hotels as of June 30, 2024, reached 10,150, with 3,266 hotels under development[40] - Average daily rate (ADR) for leased and owned hotels decreased by 2.2% year-over-year to RMB 375[40] - Occupancy rate for leased and owned hotels increased by 2.0 percentage points year-over-year to 85.6%[40] - Revenue per available room (RevPAR) for leased and owned hotels remained flat at RMB 321, showing a 0.1% year-over-year change[40] - Mature hotels (operating for over 18 months) saw a 3.6% year-over-year decline in RevPAR to RMB 248[42] - In Q2 2024, the company opened 5 new hotels and closed 2, resulting in a net increase of 3 hotels[43] - ADR in euros for leased hotels increased by 4.0% year-over-year to €124[45] - Occupancy rate in euros for leased hotels rose by 1.9 percentage points year-over-year to 71.2%[45] - RevPAR in euros for leased hotels grew by 6.8% year-over-year to €88[45] - The company's total hotel portfolio as of June 30, 2024, included 10,286 hotels with 1,001,865 rooms in operation and 3,294 hotels under development[47] - As of June 30, 2024, the company operates 5 Meilun Meixuan hotels and has 4 hotels under development in China[48] - As of June 30, 2024, the company operates 12 Steigenberger hotels and has 5 hotels under development in China[48] - As of June 30, 2024, the company operates 3 Steigenberger Grand hotels and has 1 hotel under development in China[48] Financial Performance and Metrics - Hotel turnover in Q2 2024 increased by 15.5% YoY to RMB 23.4 billion, with Legacy-Huazhu and Legacy-DH divisions growing by 16.2% and 7.8% respectively[2] - Q2 2024 revenue grew by 11.2% YoY to RMB 6.1 billion (USD 846 million), at the upper end of the previously announced guidance of 7% to 11% growth[2] - Net profit attributable to H World Group in Q2 2024 was RMB 1.1 billion (USD 147 million), compared to RMB 1.0 billion in Q2 2023 and RMB 659 million in the previous quarter[2] - Adjusted EBITDA (non-GAAP) for Q2 2024 was RMB 2.0 billion (USD 280 million), up from RMB 1.8 billion in Q2 2023 and RMB 1.4 billion in the previous quarter[3] - Total revenue for Q2 2024 was RMB 6.148 billion (USD 846 million), a 11.2% YoY increase and 16.5% QoQ growth[7] - Legacy-Huazhu's revenue in Q2 2024 was RMB 4.8 billion, a 11.1% YoY increase, driven by hotel network expansion[7] - Legacy-DH's revenue in Q2 2024 was RMB 1.3 billion, a 11.6% YoY increase, due to business recovery and network expansion[7] - Revenue from managed and franchised hotels in Q2 2024 was RMB 2.334 billion, a 25.8% YoY increase[8] - Hotel operating costs in Q2 2024 were RMB 3.731 billion, a 7.1% YoY increase, primarily due to hotel network expansion[10] - Legacy-Huazhu's hotel operating costs in Q2 2024 were RMB 2.7 billion, accounting for 56.7% of revenue, down from 58.9% in Q2 2023[10] - Sales and marketing expenses for Q2 2024 were RMB 317 million (USD 44 million), compared to RMB 262 million in Q2 2023 and RMB 260 million in the previous quarter[12] - Legacy-Huazhu's sales and marketing expenses in Q2 2024 were RMB 193 million, accounting for 4.0% of revenue, up from 3.5% in Q2 2023[12] - Legacy-DH's sales and marketing expenses in Q2 2024 were RMB 124 million, accounting for 9.4% of revenue, compared to 9.2% in Q2 2023[12] - General and administrative expenses for Q2 2024 were RMB 602 million (USD 83 million), up from RMB 477 million in Q2 2023[12] - Operating profit for Q2 2024 was RMB 1.6 billion (USD 216 million), compared to RMB 1.4 billion in Q2 2023[14] - Legacy-Huazhu's operating profit margin in Q2 2024 was 31.0%, slightly down from 31.1% in Q2 2023[14] - Legacy-DH's operating profit margin improved to 5.5% in Q2 2024 from 3.0% in Q2 2023[14] - Net profit attributable to Huazhu Group Limited for Q2 2024 was RMB 1.1 billion (USD 147 million), up from RMB 1.0 billion in Q2 2023[16] - Legacy-Huazhu's net profit attributable to Huazhu Group Limited for Q2 2024 was RMB 1.0 billion, compared to RMB 993 million in Q2 2023[16] - Legacy-DH's net profit attributable to Huazhu Group Limited for Q2 2024 was RMB 34 million, up from RMB 22 million in Q2 2023[16] - 2024 Q2 EBITDA (non-GAAP) was RMB 1.9 billion (USD 255 million), compared to RMB 1.7 billion in Q2 2023 and RMB 1.3 billion in the previous quarter[17] - 2024 H1 EBITDA (non-GAAP) was RMB 3.2 billion (USD 436 million), compared to RMB 3.4 billion in H1 2023[17] - 2024 Q2 adjusted EBITDA (non-GAAP) was RMB 2.0 billion (USD 280 million), compared to RMB 1.8 billion in Q2 2023 and RMB 1.4 billion in the previous quarter[17] - 2024 H1 adjusted EBITDA (non-GAAP) was RMB 3.5 billion (USD 476 million), compared to RMB 2.8 billion in H1 2023[18] - Total revenue for the six months ended June 30, 2024, reached RMB 11,426 million (USD 1,572 million), showing growth compared to the same period in 2023[30] - Operating profit for the six months ended June 30, 2024, was RMB 2,575 million (USD 354 million), reflecting an increase from the previous year[30] - Net profit attributable to Huazhu Group Limited for the six months ended June 30, 2024, was RMB 1,726 million (USD 238 million), compared to RMB 2,005 million in the same period last year[31] - Earnings per share (basic) for the six months ended June 30, 2024, was RMB 0.55 (USD 0.08), compared to RMB 0.63 in the same period last year[31] - Total comprehensive income attributable to Huazhu Group Limited for the six months ended June 30, 2024, was RMB 1,671 million (USD 231 million), compared to RMB 2,247 million in the same period last year[31] - Net profit attributable to Huazhu Group for Q2 2024 was RMB 1,067 million (USD 147 million), compared to RMB 1,015 million in Q2 2023[34] - Adjusted EBITDA for Q2 2024 was RMB 2,040 million (USD 280 million), a significant increase from RMB 1,772 million in Q2 2023[35] - Total revenue for Q2 2024 reached RMB 6,148 million, with Legacy-Huazhu contributing RMB 4,828 million and Legacy-DH contributing RMB 1,320 million[36] - Legacy-Huazhu's adjusted EBITDA for Q2 2024 was RMB 1,909 million, while Legacy-DH's adjusted EBITDA was RMB 131 million[36] - Leased and owned hotels generated revenue of RMB 2,395 million for Legacy-Huazhu and RMB 1,286 million for Legacy-DH in Q2 2024[36] - Total revenue under US GAAP was RMB 11,426 million, adjusted to RMB 11,424 million under IFRS[51] - Operating costs under US GAAP were RMB 9,026 million, adjusted to RMB 8,909 million under IFRS[51] - Operating profit under US GAAP was RMB 2,575 million, adjusted to RMB 2,689 million under IFRS[51] - Net profit attributable to Huazhu Group Limited under US GAAP was RMB 1,726 million, adjusted to RMB 864 million under IFRS[51] - Comprehensive profit attributable to Huazhu Group Limited under US GAAP was RMB 1,694 million, adjusted to RMB 904 million under IFRS[51] - Total operating costs and expenses amounted to RMB 7,473 million, with hotel operating costs being the largest component at RMB 6,076 million[52] - Net profit attributable to Huazhu Group Limited reached RMB 2,512 million, reflecting a strong financial performance[52] - The company reported a comprehensive profit of RMB 2,641 million, with a significant portion coming from fair value changes in convertible notes[52] - Interest expenses totaled RMB 923 million, influenced by lease adjustments and other factors[52] Cash Flow and Financial Position - 2024 Q2 operating cash inflow was RMB 2.2 billion (USD 307 million), while financing cash outflow was RMB 1.1 billion (USD 152 million)[18] - 2024 H1 operating cash inflow was RMB 3.1 billion (USD 430 million), compared to RMB 4.1 billion in H1 2023[18] - As of June 30, 2024, the company's cash and cash equivalents totaled RMB 7.8 billion (USD 1.1 billion), with restricted cash of RMB 364 million (USD 50 million)[18] - Operating cash flow for the six months ended June 30, 2024, was RMB 3,121 million (USD 430 million), a decrease from RMB 4,082 million in the same period last year[32] - Capital expenditures for the six months ended June 30, 2024, were RMB 484 million (USD 67 million), compared to RMB 393 million in the same period last year[32] - Net cash used in financing activities for the six months ended June 30, 2024, was RMB 3,363 million (USD 463 million), primarily due to debt repayments and share repurchases[33] - Cash and cash equivalents at the end of June 30, 2024, were RMB 8,165 million (USD 1,123 million), compared to RMB 7,836 million at the end of June 30, 2023[33] - Share repurchases for the six months ended June 30, 2024, amounted to RMB 676 million (USD 93 million)[33] - Debt repayments for the six months ended June 30, 2024, were RMB 429 million (USD 59 million)[33] Assets, Liabilities, and Equity - Total assets as of June 30, 2024, stood at RMB 62,452 million (USD 8,594 million), slightly lower than the RMB 63,532 million reported at the end of 2023[28] - Total liabilities decreased to RMB 49,735 million (USD 6,843 million) as of June 30, 2024, from RMB 51,283 million at the end of 2023[29] - Cash and cash equivalents increased to RMB 7,801 million (USD 1,073 million) as of June 30, 2024, up from RMB 6,946 million at the end of 2023[28] - Net accounts receivable decreased to RMB 1,112 million (USD 153 million) as of June 30, 2024, from RMB 2,189 million at the end of 2023[28] - Total equity increased to RMB 12,717 million (USD 1,751 million) as of June 30, 2024, compared to RMB 12,249 million at the end of 2023[29] - Total assets stood at RMB 61,022 million, with property and equipment net of depreciation at RMB 5,649 million[53] - Total liabilities were RMB 50,801 million, including long-term debt of RMB 5,438 million[53] - Operating lease right-of-use assets decreased to RMB 23,159 million due to adjustments and impairments[53] - Total equity attributable to Huazhu Group Limited was RMB 10,086 million, impacted by adjustments and impairments[53] - The company's retained earnings showed a deficit of RMB 363 million, reflecting various adjustments and impairments[53] - Total current assets were RMB 11,486 million, with other net current assets contributing RMB 887 million[53] - Total assets under US GAAP amounted to RMB 63,532 million, while under IFRS, it was RMB 62,533 million[54] - Property and equipment net value under US GAAP was RMB 6,097 million, adjusted to RMB 5,855 million under IFRS[54] - Operating lease right-of-use assets under US GAAP were RMB 25,658 million, adjusted to RMB 23,580 million under IFRS[54] - Long-term investments under US GAAP were RMB 2,564 million, adjusted to RMB 2,859 million under IFRS[54] - Total current liabilities under US GAAP were RMB 17,411 million, adjusted to RMB 17,327 million under IFRS[54] - Non-current operating lease liabilities under US GAAP were RMB 24,215 million, adjusted to RMB 24,727 million under IFRS[54] - Total liabilities under US GAAP were RMB 51,283 million, adjusted to RMB 52,038 million under IFRS[54] - Total equity under US GAAP was RMB 12,249 million, adjusted to RMB 10,495 million under IFRS[54] Non-GAAP Financial Measures - The company uses non-GAAP financial measures, including EBITDA and adjusted EBITDA, to evaluate performance, excluding equity incentive expenses, fair value changes in equity securities, foreign exchange gains/losses, and investment gains/losses[23][24] - EBITDA is considered a useful financial metric for evaluating operating and financial performance before the impact of financing and investment transactions and income taxes[23] - Adjusted EBITDA is used to assess the operating performance of the company's hotels, excluding items that may not reflect core operational results[23][24] - The company emphasizes that EBITDA and adjusted EBITDA are not substitutes for GAAP measures like net income or operating profit and should not be used in isolation for performance evaluation[25] - The company's non-GAAP financial measures are reconciled with GAAP financial measures in the appendix of the announcement[25] Shareholder Returns and Guidance - The company announced a three-year shareholder return plan with a total distribution of up to USD 2.0 billion, effective from July 23, 2024[19] - For 2024 Q3, the company expects revenue growth of 2% to 5% compared to Q3 2023, or 1% to 4% excluding DH[21] - The company raised its 2024 hotel opening guidance to over 2,200 hotels, up from the previous guidance of approximately 1,800 hotels[21] - H World expects Q3 2024 revenue growth of 2% to 5% YoY, or 1% to 4% excluding DH[3] - The company raised its 2024 hotel opening guidance to over 2,200 hotels, up from the previous guidance of approximately 1,800 hotels[3] Business Model and Strategy - The company operates 10,286 hotels with 1,001,865 operational rooms across 18 countries as of June 30, 2024[26] - 10% of the company's

The market expects H World Group (HTHT) to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended June 2024. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates.The earnings report, which is expected to be released on August 20, 2024, might help the stock move higher if these key numbers are ...

SINGAPORE and SHANGHAI, Aug. 05, 2024 (GLOBE NEWSWIRE) -- H World Group Limited (NASDAQ: HTHT and HKEX: 1179) ("H World", "we" or "our") a key player in the global hotel industry, today announced that it will schedule to release its unaudited financial results for the second quarter and interim of 2024 on Tuesday, August 20, 2024 (Hong Kong time), after the trading hours of The Stock Exchange of Hong Kong Limited and before the opening of the U.S. market. H World's management will host a conference call at ...