2023-05-30 03:46Financial Performance - H World's Q1 2023 revenue increased by 67.1% year-over-year to RMB 4480 million, surpassing guidance[28] - Revenue from Legacy-Huazhu increased by 58% year-over-year to RMB 3594 million[28] - Revenue from Legacy-DH increased significantly by 118.2% year-over-year to RMB 886 million[28] - Adjusted EBITDA for Q1 2023 was RMB 1651 million, a significant improvement compared to RMB -333 million in Q1 2022[31] - Adjusted net income for Q1 2023 was RMB 1004 million, compared to RMB -662 million in Q1 2022[31] - Operating cash inflow for Q1 2023 was RMB 1844 million, a significant improvement from RMB -921 million in Q1 2022[31] Operational Highlights - Legacy-Huazhu's blended RevPAR recovered to 118% of Q1 2019 levels[22] - The company is guiding for revenue growth of 51%-55% in Q2 2023 compared to Q2 2022, and 64%-68% excluding DH[35] - Total number of hotels in operation as of March 31, 2023, was 8,592 with 820,099 rooms[42] - The company has 2,339 unopened hotels in the pipeline[42] - Same-hotel RevPAR increased by 51.8% year-over-year[41]