H World Group Ltd (FRA:CL4)

Q4 2025 H World Group Ltd Earnings Call Transcript

Mar 18, 2026 / 12:00 PM GMT

Release Date Price: €4.46 (+0.45%)

Transcript

Key Points

Positve

H World Group Ltd (HTHT) achieved a 16.2% year-over-year increase in the number of rooms in operation, indicating strong network expansion.
The company reported a 23.1% year-over-year increase in managed and franchised (MNF) revenue, reaching RMB11.7 billion.
Room nights sold to members rose 21.5% year-over-year, demonstrating effective membership ecosystem development.
H World Group Ltd (HTHT) maintained stable occupancy rates while driving ADR recovery quarter by quarter.
The company achieved a record level of adjusted EBITDA of around RMB500 million for its legacy DH business, marking a successful business turnaround.

Negative

China's hotel industry faces an oversupply of low-quality and homogeneous products, which could impact market dynamics.
Despite positive growth, the full-year 2025 ADR remained largely flat year-over-year, indicating challenges in pricing power.
The company plans to close 600 to 700 hotels in 2026, which could indicate operational challenges or market saturation.
H World Group Ltd (HTHT) faces the challenge of balancing guest experience and operational efficiency, especially with new brands like Hunting Ying.
The company's guidance for global revenue growth in 2026 is relatively modest at 2% to 6%, reflecting potential market uncertainties.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

1179.HK - H World Group Ltd
Q4 2025 H World Group Ltd Earnings Call
Mar 18, 2026 / 12:00PM GMT

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Presentation
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Unidentified_1 [1]
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Good day and thank you for standing by. Welcome to the HW Q4 and full year 2025 earnings conference call.

At this time, all participants are in a listen-only mode. After the speaker's presentation, there will be a question-and-answer session. To ask a question during the session, you will need to press one and one on your telephone. You will then hear an automated message advising your hand is raised. To withdraw your question, please press one and one again.

Please be advised today's conference is being recorded. I would now like to hand the conference over to your first speaker today, Ivy. Please go ahead.

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Unidentified_2 [2]

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