Nan Fang Du Shi Bao·2025-11-20 05:59Core Insights - Huazhu Group's financial performance for Q3 2025 shows a continuous enhancement in profitability and a membership base exceeding 300 million, with 74% of nights booked by members [1][9][10] Financial Performance - In Q3, Huazhu Group reported hotel revenue of 30.6 billion yuan, a year-on-year increase of 17.5% [4] - The group's total revenue reached 7 billion yuan, up 8.1% year-on-year; adjusted net profit was 1.52 billion yuan, increasing by 10.8% [4] - Adjusted EBITDA was 2.5 billion yuan, reflecting an 18.9% year-on-year growth [4] Hotel Operations - As of the end of Q3, Huazhu Group operated a total of 12,702 hotels globally, a 17.1% increase year-on-year, with 1,246,240 rooms, up 17.3% [4] - Huazhu China opened 749 new hotels in Q3, averaging about 250 openings per month, marking a quarterly record for the year [5] Membership Growth - The membership count increased by 17.3% year-on-year, surpassing 300 million, making it the largest in the world [6][9] - Member nights booked grew by 19.7% year-on-year, totaling over 66 million nights, with a direct booking ratio of 74% [9][10] Brand Development - Huazhu's mid-to-high-end hotel count exceeded 1,600, a 25.3% year-on-year increase [13] - The launch of the new brand "All Season Grand View" aims to enhance Huazhu's mid-to-high-end brand matrix, focusing on market demand and consumer expectations [13][14] Market Insights - The Chinese hotel market shows distinct tiered characteristics, with significant growth potential in lower-tier cities where chain hotel penetration is low [13] - The middle-income group, exceeding 400 million people, is driving high-quality development in the hotel industry, with diverse and personalized demands from younger consumers [14]