Exhibit 99.1 H WORLD GROUP LIMITED INDEX TO UNAUDITED INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS Unaudited Interim Condensed Consolidated Balance Sheets as of December 31, 2021 and September 30, 2022 F-2 Unaudited Interim Condensed Consolidated Statements of Comprehensive Income for the Nine Months Ended September 30, 2021 and 2022 F-3 Unaudited Interim Condensed Consolidated Statements of Changes in Equity for the Nine Months Ended September 30, 2021 and 2022 F-4 Unaudited Interim Condensed Consol ...

H World Group Limited (NASDAQ:HTHT) Q3 2022 Earnings Conference Call November 28, 2022 8:00 PM ET Company Participants Jason Chen - Director, Investor Relations Qi Ji - Chairman Hui Jin - Chief Executive Officer Jihong He - Chief Executive Officer, International Business Ye Fei - Deputy Chief Financial Officer Conference Call Participants Dan Xu - Morgan Stanley Ronald Leung - Bank of America Simon Cheung - Goldman Sachs Operator Good day, and thank you for standing by. Welcome to the H World Third Quarter ...

Hotel Operations - As of September 30, 2022, the company operated 8,402 hotels with a total of 797,489 rooms[5] - The company opened 429 hotels in Q3 2022, while closing 204 hotels during the same period[5] - The total number of hotels as of September 30, 2022, is 8,402, with 797,489 rooms and 2,313 hotels in the pipeline[48] - The total number of temporarily closed hotels as of September 30, 2022, is 4, due to renovations and seasonal closures[46] - The total number of hotels as of September 30, 2022, was 8,276, with a net increase of 225 hotels compared to the previous year[40] Financial Performance - Total revenue for Q3 2022 grew by 16.2% year-over-year to RMB 4.1 billion (approximately USD 575 million), aligning with previous guidance of 13% to 17% growth[2] - The net loss attributable to the company for Q3 2022 was RMB 717 million (approximately USD 101 million), compared to a net loss of RMB 137 million in Q3 2021[3] - Adjusted EBITDA for Q3 2022 was RMB 491 million (approximately USD 69 million), up from RMB 385 million in Q3 2021[4] - The company's operating profit for Q3 2022 was RMB 500 million (approximately USD 70 million), compared to RMB 72 million in Q3 2021 and RMB 8 million in Q2 2022, with an operating profit margin of 12.2%[16] - The company reported a significant increase in user data, with a notable rise in hotel management and franchise operations contributing to revenue growth[33] Revenue Metrics - Hotel revenue for Q3 2022 increased by 24.4% year-over-year to RMB 15.2 billion, while excluding Steigenberger Hotels AG, the growth was 21.6%[2] - Revenue from the Legacy-Huazhu segment in Q3 2022 was RMB 3,200 million, a year-over-year increase of 7.7% and a quarter-over-quarter increase of 28.4%[10] - The Legacy-DH segment reported revenue of RMB 932 million in Q3 2022, a year-over-year increase of 58.2% and a quarter-over-quarter increase of 1.2%[10] - The management franchise and licensed hotel revenue in Q3 2022 was RMB 1,313 million, a year-over-year increase of 16.4% and a quarter-over-quarter increase of 38.9%[11] Occupancy and Rates - The average daily rate (ADR) for Legacy-Huazhu hotels in Q3 2022 was RMB 254, compared to RMB 246 in Q3 2021[6] - The occupancy rate for all operating Legacy-Huazhu hotels in Q3 2022 was 76.0%, up from 71.9% in Q3 2021[6] - Average revenue per available room (RevPAR) in China recovered to 90% of 2019 levels in Q3 2022, driven by pent-up leisure travel demand during July and August, but slowed to 74% in October due to COVID-19 resurgence[9] - The average daily room rate for leased hotels increased by 19.7% year-over-year to €112.9 as of September 30, 2022[47] - The occupancy rate for leased hotels improved by 19.5 percentage points year-over-year to 67.4% as of September 30, 2022[47] Cash Flow and Debt - Operating cash inflow for Q3 2022 was RMB 452 million (approximately USD 64 million), while investment cash outflow was RMB 525 million (approximately USD 74 million)[21] - As of September 30, 2022, the total cash and cash equivalents amounted to RMB 5.2 billion (approximately USD 728 million) and restricted cash was RMB 400 million (approximately USD 6 million)[21] - The total debt balance as of September 30, 2022, was RMB 11.2 billion (approximately USD 1.6 billion), with available undrawn credit facilities of RMB 2.9 billion[21] - The company’s long-term debt rose to RMB 6,091 million as of September 30, 2022, from RMB 3,565 million as of December 31, 2021[32] Future Outlook - The company expects Q4 2022 revenue to grow by 7% to 11% year-over-year, or decline by 1% to 5% excluding DH[4] - The company plans to focus on cost control and cautious capital expenditure to ensure operational and cash flow safety amid ongoing COVID-19 challenges[9] - The company plans to expand its market presence and enhance customer retention strategies in the upcoming quarters[30] Non-GAAP Measures - The company believes that adjusted EBITDA better reflects the operational performance of its hotels, excluding the impact of stock-based compensation and unrealized gains or losses from equity securities[26] - The company emphasizes that EBITDA and adjusted EBITDA should not be viewed as indicators of future performance, as they do not account for depreciation, amortization, taxes, and interest expenses[27] - The company aims to enhance transparency in financial and operational decision-making by providing non-GAAP financial measures[25]

H World Group Ltd (NASDAQ:HTHT) Q2 2022 Earnings Conference Call August 29, 2022 9:00 PM ET Company Participants Jason Chen - IR Director Ji Qi - Founder & Executive Chairman Jin Hui - CEO Ye Fei - Deputy CFO & VP, Strategic Investment and Capital Market Conference Call Participants Billy Ng - Bank of America Merrill Lynch Simon Cheung - Goldman Sachs Group Sijie Lin - CICC Operator Good day, and thank you for standing by. Welcome to the H World Group Conference Call. I would now like to hand the conference ...

Financial Performance - In Q2 2022, hotel revenue decreased by 10.3% year-over-year to RMB 11.8 billion; excluding Steigenberger Hotels AG, the decline was 18.9%[4] - Revenue for Q2 2022 was RMB 3.4 billion (approximately $504 million), down 5.7% year-over-year, aligning with previous guidance of a 2% to 6% decline[4] - The net loss attributable to the company in Q2 2022 was RMB 350 million (approximately $52 million), compared to a net profit of RMB 378 million in Q2 2021[5] - Adjusted EBITDA for Q2 2022 was RMB 53 million (approximately $7 million), down from RMB 1 billion in Q2 2021[6] - Total revenue for Q2 2022 was RMB 3.382 billion (approximately $504 million), a year-over-year decrease of 5.7% but a quarter-over-quarter increase of 26.1%[13] - Revenue from the Legacy-DH segment in Q2 2022 was RMB 921 million, a year-over-year increase of 311.2% and a quarter-over-quarter increase of 126.8%[13] - Operating profit for Q2 2022 was RMB 8 million (approximately USD 1 million), a significant decrease from RMB 629 million in Q2 2021 and a loss of RMB 708 million in Q1 2022[21] - The operating profit margin for Q2 2022 was 0.2%, down from 17.5% in Q2 2021 and negative 26.4% in Q1 2022[22] - The company reported a basic loss per share of RMB 0.11 for the quarter ended June 30, 2022, compared to earnings of RMB 0.12 in the same quarter of 2021[43] Hotel Operations - As of June 30, 2022, the company operated 8,176 hotels with a total of 773,898 rooms[8] - The company opened 269 hotels in Q2 2022 while closing 86 hotels during the same period[8] - As of June 30, 2022, there were 2,236 hotels under development, including 2,199 from Legacy-Huazhu[8] - The average daily rate (ADR) for Legacy-Huazhu hotels in Q2 2022 was RMB 218, down from RMB 255 in Q2 2021[9] - The occupancy rate for all operating Legacy-Huazhu hotels in Q2 2022 was 64.6%, compared to 82.3% in Q2 2021[9] - The average daily rate was €110, up from €82 in Q2 2021 and €88 in Q1 2022[11] - The occupancy rate for all operating Legacy-DH hotels in Q2 2022 was 59.8%, compared to 24.4% in Q2 2021 and 38.0% in Q1 2022[11] - The company has paused providing full-year revenue and hotel opening guidance due to the impact of COVID-19 and related policies[31] Costs and Expenses - In Q2 2022, hotel operating costs were RMB 3 billion (approximately USD 443 million), an increase from RMB 2.7 billion in Q2 2021 and RMB 2.8 billion in Q1 2022[17] - For the first half of 2022, hotel operating costs totaled RMB 5.8 billion (approximately USD 864 million), compared to RMB 5.2 billion in the same period of 2021[18] - General and administrative expenses in Q2 2022 were RMB 368 million (approximately USD 55 million), compared to RMB 392 million in Q2 2021 and RMB 462 million in Q1 2022[19] - Total operating costs and expenses for the quarter ended June 30, 2022, were RMB 3,528 million, up from RMB 3,320 million in the same quarter of 2021[42] Cash Flow and Debt - Operating cash inflow for Q2 2022 was RMB 989 million (approximately USD 147 million)[27] - As of June 30, 2022, the total cash and cash equivalents amounted to RMB 4.6 billion (approximately USD 693 million), with restricted cash of RMB 38 million (approximately USD 6 million)[29] - The total debt balance as of June 30, 2022, was RMB 10.4 billion (approximately USD 1.6 billion), with available undrawn credit facilities of RMB 3 billion[29] - Cash and cash equivalents decreased from RMB 5,116 million at the end of 2021 to RMB 4,642 million by June 30, 2022, a reduction of about 9.3%[40] - Short-term debt increased from RMB 6,232 million to RMB 6,707 million, reflecting a rise of about 7.6%[41] - Huazhu's long-term debt increased from RMB 3,565 million to RMB 3,696 million, representing a rise of approximately 3.7%[41] Market Strategy and Future Outlook - The company expects Q3 2022 revenue to grow by 13% to 17% year-over-year, or 5% to 9% excluding DH[6] - The company plans to accelerate the exit from the economy soft brand hotel market within the next one to two years to improve overall hotel quality[12] - The company has outlined growth strategies that include enhancing customer retention and leveraging brand strength, although specific numerical targets were not disclosed[39] - The company continues to explore new strategies for market expansion and product development[61] Non-GAAP Measures and Financial Metrics - The company emphasizes the importance of EBITDA as a financial metric, which reflects operational and financial performance before financing transactions and tax impacts[33] - Adjusted EBITDA is used to evaluate the operating performance of hotels, excluding stock-based compensation and unrealized gains or losses from equity securities[34] - The company believes that adjusted EBITDA provides a more accurate reflection of hotel performance capabilities[34] - The company uses non-GAAP financial measures to provide meaningful supplemental information about its performance[36] - The company believes that the use of non-GAAP measures enhances transparency in financial and operational decision-making[36] Impairment and Investment - The company experienced a substantial increase in impairment losses, reporting RMB 91 million for the six months ended June 30, 2022, compared to RMB 9 million for the same period in 2021[44] - The company reported a significant increase in investment income, with a profit of RMB 531 million for the six months ended June 30, 2022, compared to a loss of RMB 314 million for the same period in 2021[44]

Financial Performance - Hotel turnover decreased 10.3% year-over-year to RMB11.8 billion in Q2 2022, with a decrease of 18.9% excluding Legacy-DH[2]. - Revenue in Q2 2022 was RMB3.4 billion (US$504 million), a 5.7% year-over-year decrease, aligning with previous guidance of a 2% to 6% decrease[3]. - Net loss attributable to H World Group Limited was RMB350 million (US$52 million) in Q2 2022, compared to a net income of RMB378 million in Q2 2021[4]. - Adjusted EBITDA (non-GAAP) was RMB53 million (US$7 million) in Q2 2022, down from RMB1.0 billion in Q2 2021[6]. - Total revenue for the quarter ended June 30, 2022, was RMB 3,382 million, a decrease of 6% compared to RMB 3,587 million for the same quarter in 2021[84]. - Net income attributable to H World Group Limited for the quarter was a loss of RMB 350 million, compared to a profit of RMB 378 million in the same quarter of the previous year[84]. - Adjusted EBITDA for the quarter ended June 30, 2022, was RMB 53 million (approximately USD 7 million), a significant decrease from RMB 1,043 million in the same quarter of 2021[88]. - The company reported a loss from operations of RMB 700 million for the six months ended June 30, 2022, compared to a profit of RMB 54 million in the same period of 2021[92]. Operational Metrics - The average daily rate (ADR) for Legacy-Huazhu hotels was RMB218 in Q2 2022, down from RMB255 in Q2 2021[12]. - The occupancy rate for all Legacy-Huazhu hotels was 64.6% in Q2 2022, compared to 82.3% in Q2 2021[12]. - RevPAR in Q2 2022 recovered to 69% of the 2019 level, with April and May 2022 at 53% and 65% respectively, improving to 86% in June 2022 due to lifted lockdowns[60]. - In Q2 2022, DH experienced a RevPAR recovery, with March 2022 RevPAR at 35% lower than 2019 levels, while June 2022 RevPAR was only 1% lower than 2019 levels[62]. - The average daily room rate for leased and owned hotels decreased by 21.7% year-over-year to RMB 243 in Q2 2022[96]. - The occupancy rate for leased and owned hotels was 62.9% in Q2 2022, down 18.1 percentage points from the previous year[96]. - Same-hotel RevPAR for economy hotels decreased by 34.8% year-over-year, from RMB 172 in June 2021 to RMB 112 in June 2022[99]. Cost and Expenses - Hotel operating costs in Q2 2022 were RMB2.97 billion (US$443 million), an increase from RMB2.74 billion in Q2 2021 and RMB2.81 billion in Q1 2022, primarily due to hotel network expansion and business recovery[32]. - In H1 2022, hotel operating costs totaled RMB5.8 billion (US$864 million), up from RMB5.2 billion in H1 2021, with Legacy-Huazhu segment costs representing 93.4% of revenue compared to 76.2% in 2021[33]. - Selling and marketing expenses in Q2 2022 were RMB142 million (US$21 million), a decrease from RMB161 million in Q2 2021 and RMB122 million in Q1 2022, with Legacy-Huazhu segment expenses at 2.6% of revenue[34]. - General and administrative expenses in Q2 2022 were RMB368 million (US$55 million), down from RMB392 million in Q2 2021 and RMB462 million in Q1 2022, with Legacy-Huazhu segment expenses at 10.8% of revenue[36]. - The company experienced a significant increase in personnel costs, which rose to RMB 899 million for the quarter, compared to RMB 757 million in the same quarter of 2021[84]. Cash Flow and Liquidity - Operating cash inflow in Q2 2022 was RMB989 million (US$147 million), while operating cash inflow in H1 2022 was RMB68 million (US$11 million), down from RMB281 million in H1 2021[57][58]. - As of June 30, 2022, the company had cash and cash equivalents of RMB4.6 billion (US$693 million) and total debt of RMB10.4 billion (US$1.6 billion)[59]. - The company reported a net cash provided by operating activities of RMB 989 million (approximately USD 147 million) for the quarter ended June 30, 2022, compared to RMB 1,238 million in the same quarter of 2021[85]. - The company reported a net cash used in investing activities of RMB 201 million (approximately USD 10 million) for the quarter ended June 30, 2022, compared to RMB 582 million in the same quarter of 2021[85]. - The net cash provided by financing activities for the quarter ended June 30, 2022, was RMB 146 million (approximately USD 22 million), a decrease from RMB (185) million in the same quarter of 2021[85]. Future Outlook - H World expects revenue in Q3 2022 to increase by 13% to 17% compared to Q3 2021, or by 5% to 9% excluding Legacy-DH[9]. - The company will suspend providing annual revenue guidance due to the unpredictable business performance caused by COVID-19 in China[63]. - DH is focusing on cash flow improvement measures, including efficiency improvements and re-negotiation of lease contracts[62]. Hotel Portfolio - As of June 30, 2022, H World had a total of 2,236 unopened hotels in its pipeline, including 2,199 from Legacy-Huazhu[10]. - As of June 30, 2022, H World operated 8,176 hotels with 773,898 rooms across 17 countries[78]. - H World operates 14% of its hotel rooms under lease and ownership models, and 86% under manachise and franchise models[79]. - The number of leased and owned hotels as of June 30, 2022, was 646, with a net addition of 5 hotels in Q2 2022[93]. - The total number of operational hotels as of June 30, 2022, was 8,051, with a total of 748,942 rooms[93]. - The company has 985 unopened hotels in the pipeline as of June 30, 2022[104]. - Five new hotels were opened in Q2 2022, contributing to a total of 125 hotels as of June 30, 2022[101].

Huazhu Group Limited (NASDAQ:HTHT) Q1 2022 Earnings Conference Call May 31, 2022 7:00 AM ET Company Participants Jason Chen - Investor Relations Director Ji Qi - Founder and Chairman Jin Hui - Chief Executive Officer Ye Fei - Deputy Chief Financial Officer Conference Call Participants Billy Ng - Bank of America Sijie Lin - CICC Simon Cheung - Goldman Sachs Operator Good day and thank you for standing by. Welcome to Huazhu Group Limited First Quarter 2022 Earnings Conference Call. At this time, all participa ...

Hotel Operations - As of March 31, 2022, the company operated 7,988 hotels with a total of 764,859 rooms[2] - Legacy-Huazhu opened 302 hotels in Q1 2022 while closing 140 hotels during the same period[5] - As of March 31, 2022, there were 2,271 hotels under development, including 2,226 from Legacy-Huazhu[5] - The total number of hotels as of March 31, 2022, remained at 5,225, with an average revenue per available room (RevPAR) of 131, reflecting an 8.9% year-over-year decline[50] - The economy segment includes 4,824 operating hotels with 388,174 rooms and 951 hotels planned[55] - The mid-range segment has 2,554 operating hotels with 281,168 rooms and 977 hotels in development[55] - The upscale segment consists of 115 operating hotels with 20,691 rooms and 62 hotels planned[55] - The company has 3,096 Hanting hotels with 277,885 rooms and 608 hotels in the pipeline[55] - The company has a total of 447 Haiyou hotels with 24,682 rooms and 117 hotels planned[55] - The company has 83 Nihao hotels with 5,772 rooms and 178 hotels in the pipeline[55] Financial Performance - In Q1 2022, hotel revenue increased by 16.4% year-over-year to RMB 9.5 billion, and excluding Steigenberger Hotels AG, revenue grew by 11.4%[2] - Total revenue for Q1 2022 rose by 15.2% year-over-year to RMB 2.7 billion (approximately USD 423 million), aligning with previous guidance of 11% to 15% growth[2] - The net loss attributable to Huazhu Group in Q1 2022 was RMB 630 million (approximately USD 99 million), compared to a net loss of RMB 248 million in Q1 2021[3] - Adjusted EBITDA for Q1 2022 was a negative RMB 333 million (approximately USD 53 million), worsening from a negative RMB 133 million in Q1 2021[4] - The operating loss for Q1 2022 was RMB 708 million (approximately USD 112 million), compared to an operating loss of RMB 575 million in Q1 2021[17] - The operating profit margin for Q1 2022 was -26.4%, compared to -24.7% in Q1 2021[17] - The company anticipates a revenue decline of 2% to 6% for Q2 2022 compared to Q2 2021, or a decline of 23% to 27% excluding DH[4] - In Q1 2022, the net loss attributable to Huazhu Group Limited was RMB 630 million (approximately USD 99 million), compared to a net loss of RMB 248 million in Q1 2021 and RMB 459 million in the previous quarter[19] - The adjusted basic and diluted loss per share for Q1 2022 was RMB 0.21 (approximately USD 0.03) excluding stock-based compensation and unrealized gains/losses on equity securities[20] Revenue Metrics - The average daily rate (ADR) for Legacy-Huazhu hotels in Q1 2022 was RMB 224, compared to RMB 209 in Q1 2021[6] - The occupancy rate for all operating Legacy-Huazhu hotels in Q1 2022 was 59.2%, down from 66.2% in Q1 2021[6] - Revenue from Legacy-Huazhu in Q1 2022 was RMB 2.3 billion, a year-over-year increase of 4.6% and a quarter-over-quarter decrease of 18.0%[11] - Revenue from Legacy-DH in Q1 2022 was RMB 406 million, showing a significant year-over-year increase of 165.4% but a quarter-over-quarter decrease of 29.0%[11] - Average revenue per available room (RevPAR) for Legacy-DH in April 2022 recovered to 80% of 2019 levels, up from 47% in January 2022[10] - The average revenue per available room (RevPAR) for leased and owned hotels was RMB 149, a decrease of 4.4% from RMB 156 in the same quarter of 2021[49] - The average daily rate (ADR) for leased and owned hotels was RMB 263, an increase of 8.0% compared to RMB 243 in the same quarter of 2021[49] - The midscale hotel segment saw a RevPAR decline of 9.4% to 164, with an ADR of 177, down 9.9%, and an occupancy rate decrease of 7.6 percentage points to 56.8%[50] Cost Management - Operating costs in Q1 2022 totaled RMB 3.434 billion, compared to RMB 2.931 billion in Q1 2021, reflecting an increase due to the expansion of Legacy-Huazhu and the recovery of Legacy-DH[14][15] - The company implemented cost control measures, including staff reductions and resource allocation to key strategies, in response to the challenges posed by the Omicron variant[10] - Management fees were deferred to support franchisees during difficult times, alongside legal support for rent negotiations and tax refund applications[10] - The company is implementing various cost and cash flow management measures to mitigate risks associated with the ongoing COVID-19 situation[24] Cash Flow and Liquidity - Operating cash outflow in Q1 2022 was RMB 921 million (approximately USD 144 million)[22] - As of March 31, 2022, the total cash and cash equivalents amounted to RMB 4.1 billion (approximately USD 651 million) and restricted cash was RMB 240 million (approximately USD 4 million)[22] - The total debt balance as of March 31, 2022, was RMB 10.1 billion (approximately USD 1.6 billion) with available undrawn credit facilities of RMB 3 billion[23] - The company reported a net cash used in operating activities for Q1 2022 was RMB (921) million, compared to RMB 867 million generated in Q4 2021[40] - The company reported a net cash used in investing activities of RMB (201) million in Q1 2022, a decline from RMB (503) million in Q4 2021[40] - The financing activities resulted in a net cash inflow of RMB 146 million in Q1 2022, a recovery from a net outflow of RMB (598) million in Q4 2021[40] Strategic Focus - The company remains focused on long-term "lean growth" strategies, emphasizing customer, franchisee, and employee engagement[10] - The company plans to focus on expanding its market presence and enhancing its product offerings in the upcoming quarters[38] - The company is focusing on increasing its market share in the mid-range and upscale segments through new hotel openings and acquisitions[55] - The company is committed to enhancing its brand portfolio and improving operational efficiency across all segments[55]