HWORLD(HTHT) GlobeNewswire·2025-03-20 10:15Core Viewpoint - H World Group Limited reported its unaudited financial results for Q4 and the full year of 2024, highlighting significant growth in hotel turnover and revenue, despite a decline in net income due to foreign exchange losses and restructuring costs. Financial Performance - Hotel turnover increased by 16.5% year-over-year to RMB23.7 billion in Q4 2024 and by 15.5% for the full year to RMB23.9 billion (US825 million), a 7.8% year-over-year increase, surpassing previous guidance [4][8] - Net income attributable to H World was RMB49 million (US134 million), compared to RMB1.4 billion in Q4 2023 [38] Operational Highlights - As of December 31, 2024, H World operated 11,147 hotels with 1,088,218 rooms, including 3,013 hotels in the pipeline [2] - Legacy-Huazhu opened 520 hotels in Q4 2024, exceeding its target of 1,800 for the year [7] - The occupancy rate for Legacy-Huazhu hotels was 80.0% in Q4 2024, slightly down from 80.5% in Q4 2023 [11] Segment Performance - Revenue from the Legacy-Huazhu segment in Q4 2024 was RMB4.8 billion, a 9.2% year-over-year increase [4][9] - Revenue from the Legacy-DH segment in Q4 2024 was RMB1.2 billion, a 2.9% year-over-year increase [4][9] - Adjusted EBITDA from Legacy-Huazhu was RMB1.5 billion in Q4 2024, compared to RMB1.1 billion in Q4 2023 [38] Shareholder Returns - The board declared a cash dividend of approximately US767 million for the year [43][45] - H World announced a three-year shareholder return plan with an aggregate amount of up to US$2 billion [44] Future Guidance - For Q1 2025, H World expects revenue growth of 0%-4%, with manachised and franchised revenue growth projected at 18%-22% [47] - For the full year 2025, revenue growth is expected to be in the range of 2%-6%, with manachised and franchised revenue growth projected at 17%-21% [48]