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 ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 20-F (Mark One) ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to OR ☐ SHELL COMPANY REPORT PURSUANT TO SECT ...

Huazhu Group Limited (NASDAQ:HTHT) Q4 2021 Earnings Conference Call March 23, 2022 9:00 PM ET Corporate 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 Lina Yan - HSBC Bruce Lee - UBS Operator Ladies and gentlemen, thank you for standing by. And welcome to the Huazhu Group 2021 Q4 and Full Year Earnings Conference Call. Please b ...

Hotel Operations - As of December 31, 2021, Huazhu operated a total of 7,830 hotels and 753,216 hotel rooms[1][11] - The company opened 1,507 manachised and franchised hotels in 2021, while closing 451[11] - The company operates 7,830 hotels with 753,216 rooms in 17 countries as of December 31, 2021, with 14% of rooms under lease and ownership model and 86% under manachise and franchise models[82][83] - The company had 2,571 unopened hotels in the pipeline as of December 31, 2021[106] - The total number of unopened hotels in the pipeline as of December 31, 2021, was 1,206, indicating ongoing market expansion[119] Financial Performance - Revenue for Q4 2021 was RMB3.4 billion (US$526 million), a 9.1% year-over-year increase, while full year revenue was RMB12.8 billion (US$2.0 billion), a 25.4% year-over-year increase[3][24] - Revenue for the full year of 2021 was RMB12.8 billion (US$2.0 billion), representing an increase of 25.4% from 2020[25] - Net loss attributable to Huazhu for Q4 2021 was RMB459 million (US$72 million), compared to a net income of RMB703 million in Q4 2020[4] - Net loss attributable to Huazhu Group Limited for the full year of 2021 was RMB465 million (US$73 million)[52] - Total revenue for the year ended December 31, 2021, was RMB 12,787 million, representing a 25.5% increase from RMB 10,196 million in 2020[89] Adjusted EBITDA and Operating Costs - Adjusted EBITDA (non-GAAP) for Q4 2021 was RMB278 million (US$43 million), compared to RMB375 million in Q4 2020; for the full year 2021, it was RMB1.6 billion (US$247 million) compared to negative RMB244 million in 2020[8] - EBITDA (non-GAAP) for the full year of 2021 was RMB1.4 billion (US$215 million), compared with a negative RMB631 million in 2020[57] - Hotel operating costs for the full year of 2021 were RMB11.3 billion (US$1.8 billion), compared to RMB9.7 billion in 2020[34] - Operating costs for the year ended December 31, 2021, totaled RMB 13,613 million, an increase from RMB 11,925 million in 2020, reflecting a rise of 14.1%[90] Revenue Breakdown - Revenue from Legacy-Huazhu segment for the full year of 2021 was RMB11.2 billion, representing a 29.8% year-over-year increase[25] - Revenue from leased and owned hotels for the full year of 2021 was RMB8.1 billion (US$1.3 billion), representing an increase of 17.5% from 2020[27] - Revenue from manachised and franchised hotels for the full year of 2021 was RMB4.4 billion (US$690 million), representing an increase of 40.2% from 2020[29] - Legacy-DH segment revenue for Q4 2021 was RMB574 million, a 129.6% year-over-year increase[24] Cash Flow and Assets - Operating cash inflow for Q4 2021 was RMB867 million (US$136 million) and for the full year 2021 was RMB1.3 billion (US$210 million), representing a 120.4% increase from 2020[58][59] - As of December 31, 2021, total cash and cash equivalents were RMB5.1 billion (US$803 million) with total debt balance of RMB9.8 billion (US$1.5 billion)[61] - Total current assets as of December 31, 2021, were RMB 9,553 million, a decrease from RMB 12,882 million as of December 31, 2020[86] - The company’s total assets as of December 31, 2021, were RMB 63,269 million, a decrease from RMB 65,155 million as of December 31, 2020[87] Future Outlook - For Q1 2022, Huazhu expects revenue growth of 11%-15% compared to Q1 2021, or 1%-5% excluding Legacy-DH[9] - Huazhu expects to open around 1,500 hotels and close 500-550 hotels in 2022, with revenue growth forecasted at 11%-15% for Q1 2022 and 15%-20% for the full year compared to 2021[67] - The guidance for future performance is uncertain due to the ongoing impact of the Omicron variant and China's "zero-COVID" policy[65] Market Conditions - The company maintains a long-term optimistic view on the Chinese lodging industry despite near-term uncertainties due to COVID-19[22] - RevPAR recovery in Q4 2021 was 90%, 76%, and 90% of October, November, and December 2019 levels, respectively, with January and February 2022 showing 75% and 83% recovery[62] Shareholder Information - The company may repurchase its securities, including American depositary shares and convertible notes, subject to market conditions[68] - The company’s share-based compensation expenses for the quarter were 15 million RMB, down from 31 million RMB in the previous quarter[97]

Huazhu Group Limited (NASDAQ:HTHT) Q3 2021 Earnings Conference Call November 24, 2021 8:00 PM ET Company Representatives JI Qi - Founder, Chairman Jin Hui - Chief Executive Officer Liu Xinxin - President Chen Hui - Chief Financial Officer Ye Fei - Deputy Chief Financial Officer Jason Chen - General Manager Conference Call Participants Billy Ng - Bank of America Simon Cheung - Goldman Sachs Operator Hello everyone! Thank you for standing by. Welcome to the Huazhu Group’s Q3 Earnings Conference Call. At this ...

Huazhu Group Limited (NASDAQ:HTHT) Q2 2021 Earnings Conference Call August 24, 2021 9:00 PM ET Company Participants Qi Ji - Founder and Chief Executive Officer Hui Jin - President Chen Hui - Chief Financial Officer Fei Ye - Deputy Chief Financial Officer Conference Call Participants Tian Hou - T.H. Capital, LLC Praveen Choudhary - Morgan Stanley Yulin Zhong - Haitong International Securities Group Limited Simon Cheung - Goldman Sachs Group, Inc. Operator Good day, and thank you for standing by. Welcome to t ...