H World Group (NasdaqGS:HTHT) Q4 2025 Earnings call March 18, 2026 08:00 AM ET Company ParticipantsArthur Yu - Incoming CFODan Chee - VP of Equity ResearchHui Chen - CFOHui Jin - CEOIvy Huili Luo - Associate Director of Investor RelationsJihong He - Chief Strategy OfficerLydia Ling - Director of Equity ResearchRonald Leung - VPSijie Li - Credit Research AssociateSimon Cheung - Managing DirectorConference Call ParticipantsXin Chen - Research AnalystOperatorGood day, and thank you for standing by. Welcome to ...

Core Insights - H World Group Limited experienced a significant increase in guest numbers during the 2025 May Day holiday, with nearly 6.3 million guests, representing a 30% increase compared to the previous year [1][6] - The overall hotel occupancy rate for H World exceeded 84%, marking a 1% year-on-year increase, with major cities showing strong performance [2][6] - The implementation of China's 240-hour visa-free transit policy contributed to a 75% year-on-year increase in international guest stays, totaling over 43,000 during the holiday [4][6] Domestic Travel Trends - During the five-day holiday, China saw 314 million domestic trips, reflecting a 6.4% year-on-year increase, with total domestic tourism spending reaching 180.27 billion yuan, an 8.0% year-on-year growth [2] - Second-tier cities like Xuzhou, Changchun, and Foshan reported occupancy rates exceeding 90%, indicating robust domestic travel demand beyond major urban centers [3] - Smaller third- and fourth-tier cities also attracted more leisure travelers, with cities such as Bengbu and Liaoyang achieving full occupancy [3] Performance by City - Major cities performed strongly with occupancy rates of 88% in Guangzhou, 87% in Shenzhen, and 85% in Xi'an, representing year-on-year growth of 10%, 14.5%, and 10.4% respectively [2]