HWORLD(HTHT)2025-03-21 03:03Financial Data and Key Metrics Changes - In Q4 2024, total revenue for the group increased 7.8% year-over-year to RMB6 billion, exceeding guidance [45] - For the full-year 2024, total revenue increased 9.2% year-over-year to RMB23.9 billion [45] - Adjusted net income was RMB321 million in Q4 2024, with full-year adjusted net income increasing 5.8% year-over-year to RMB3.7 billion [54] - The group generated operational cash inflow of RMB7.5 billion in 2024 [54] Business Line Data and Key Metrics Changes - Legacy-Huazhu's revenue increased 9.2% year-over-year to RMB4.8 billion in Q4 2024, with full-year revenue growing 9.1% to RMB19 billion [45] - Legacy-DH's revenue rose 2.9% year-over-year to RMB1.2 billion in Q4 and increased 9.6% year-over-year to RMB4.9 billion for the full-year [46] - Legacy-Huazhu's blended RevPAR decreased slightly by 3% to RMB235, while occupancy rate improved by 0.2 percentage points to 81.2% [17][18] Market Data and Key Metrics Changes - The number of domestic tourists in China reached 5.6 billion, up 14.8% year-over-year, with total domestic tourism spending increasing 17.1% to RMB5.8 trillion [10] - The hotel turnover for the full-year 2024 was RMB93 billion, a 15% year-over-year increase [44] Company Strategy and Development Direction - The company aims to reach 20,000 hotels in 2,000 cities in the near future, focusing on high-quality development and brand positioning [16][32] - The asset-light model strategy is expected to generate stronger and healthier cash flow, with over 50% of revenue contribution from asset-light business [13][47] Management Comments on Operating Environment and Future Outlook - Management noted that while there are macro uncertainties, domestic travel demand continues to grow steadily, with leisure travel outpacing business travel [8][10] - For Q1 2025, management expects a low single-digit decline in RevPAR year-over-year, but remains confident about stabilization and potential growth for the full year [65] Other Important Information - The company revised its dividend payout policy to no less than 60% of net profit and announced a US2 billion over three years, primarily through cash dividends [78]