華住集團有限公司公佈2023年第四季度及全年的酒店經營初步業績

22/01/2024
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SINGAPORE and SHANGHAI, China, Jan. 22, 2024 (GLOBE NEWSWIRE) -- H World Group Limited (NASDAQ: HTHT and HKEX: 1179) (“H World”, “we” or “our”), a key player in the global hotel industry, today announced preliminary results for hotel operations in the fourth quarter (“Q4 2023”) and the full year ended December 31, 2023.

Business update

For our Legacy-Huazhu business, our RevPAR in Q4 2023 recovered to 120% of the 2019 level, supported by the sustained recovery in both leisure and business travel demand. Breaking down into each month, our RevPAR in October, November and December 2023 recovered to 120%, 117% and 123% of the 2019 levels, respectively. For the full year of 2023, our RevPAR reached 122% of the 2019 level. While the RevPAR growth in 2023 was primarily driven by ADR, we also experienced continuous recovery in the occupancy rate. With respect to the network expansion, we opened 460 hotels and closed 225 hotels in Q4 2023. We recorded a net increase of 852 hotels to our network in the full year of 2023.

For Steigenberger Hotels GmbH and its subsidiaries (“DH”, or “Legacy-DH”), RevPAR in Q4 2023 recovered to 111% of the 2019 level, and was marginally above the 2022 level mainly due to a higher ADR base experienced during the FIFA World Cup and the COP27 UN Climate Change Conference in Q4 2022.

Operating Results: Legacy-Huazhu(1)

　 Number of hotels 　 Number of rooms
　 Opened
in Q4 2023		 Closed (2)
in Q4 2023		 Net added
in Q4 2023		 As of
December 31,
2023		 　 As of
December 31,
2023
　 　
Leased and owned hotels 4 (5 ) (1 ) 607   86,691
Manachised and franchised hotels 456 (220 ) 236   8,656   798,939
Total 460 (225 ) 235   9,263   885,630
(1)   Legacy-Huazhu refers to H World and its subsidiaries, excluding DH.
(2)   The reasons for hotel closures mainly included non-compliance with our brand standards, operating losses, and property-related issues. In Q4 2023, we temporarily closed 18 hotels for brand upgrade and business model change purposes.

 

　 As of December 31, 2023
　 Number of hotels Unopened hotels in pipeline
Economy hotels 4,968 1,106
Leased and owned hotels 329 0
Manachised and franchised hotels 4,639 1,106
Midscale, upper-midscale hotels and others 4,295 1,955
Leased and owned hotels 278 9
Manachised and franchised hotels 4,017 1,946
Total 9,263 3,061

 

Operational hotels excluding hotels under requisition
　 For the quarter ended 　
　 December 31, September 30, December 31, yoy
　 2022   2023   2023   change
Average daily room rate (in RMB) 　 　 　
Leased and owned hotels 279   406   356   27.7 %
Manachised and franchised hotels 236   314   276   17.1 %
Blended 240   324   284   18.3 %
Occupancy rate (as a percentage)      
Leased and owned hotels 63.1 % 87.8 % 83.7 % +20.6 p.p.  
Manachised and franchised hotels 66.6 % 85.7 % 80.1 % +13.5 p.p.  
Blended 66.2 % 85.9 % 80.5 % +14.3 p.p.  
RevPAR (in RMB)        
Leased and owned hotels 176   356   298   69.4 %
Manachised and franchised hotels 157   269   221   40.9 %
Blended 159   278   229   43.8 %

 

　 For the quarter ended
　 December 31, December 31, yoy
　 2019   2023   change
Average daily room rate (in RMB) 　 　
Leased and owned hotels 277   356   28.4 %
Manachised and franchised hotels 223   276   24.1 %
Blended 232   284   22.5 %
Occupancy rate (as a percentage) 　 　
Leased and owned hotels 84.7 % 83.7 % -1.1 p.p.  
Manachised and franchised hotels 81.6 % 80.1 % -1.5 p.p.  
Blended 82.2 % 80.5 % -1.7 p.p.  
RevPAR (in RMB) 　 　 　
Leased and owned hotels 235   298   26.8 %
Manachised and franchised hotels 182   221   21.8 %
Blended 191   229   20.0 %

 

Operational hotels excluding hotels under requisition
　 For full year ended  
　 December 31, December 31, yoy  
　 2022   2023   change  
Average daily room rate (in RMB) 　 　  
Leased and owned hotels 272   372   36.9 %  
Manachised and franchised hotels 231   290   25.3 %  
Blended 236   299   26.6 %  
Occupancy rate (as a percentage) 　 　  
Leased and owned hotels 63.9 % 82.8 % +18.9 p.p.    
Manachised and franchised hotels 67.1 % 80.8 % +13.8 p.p.    
Blended 66.7 % 81.1 % +14.4 p.p.    
RevPAR (in RMB) 　 　 　  
Leased and owned hotels 174   308   77.4 %  
Manachised and franchised hotels 155   234   51.0 %  
Blended 157   242   53.9 %  

 

　 For full year ended
　 December 31, December 31, yoy
　 2019   2023   change
Average daily room rate (in RMB) 　 　
Leased and owned hotels 276   372   34.5 %
Manachised and franchised hotels 224   290   29.1 %
Blended 234   299   27.4 %
Occupancy rate (as a percentage) 　 　
Leased and owned hotels 87.0 % 82.8 % -4.1 p.p.  
Manachised and franchised hotels 83.8 % 80.8 % -2.9 p.p.  
Blended 84.4 % 81.1 % -3.3 p.p.  
RevPAR (in RMB) 　 　 　
Leased and owned hotels 240   308   28.1 %
Manachised and franchised hotels 188   234   24.6 %
Blended 198   242   22.4 %

 

Same-hotel operational data by class                
Mature hotels in operation for more than 18 months (excluding hotels under requisition)
  Number of hotels Same-hotel RevPAR Same-hotel ADR Same-hotel Occupancy
  As of
December 31,
 		 For the quarter yoy For the quarter yoy For the quarter yoy
  ended
December 31,		 change ended
December 31,		 change ended
December 31,		 change
  2022 2023 2022 2023   2022 2023   2022   2023   (p.p.)
Economy hotels 3,641 3,641 129 173 34.5 % 184 212 14.9 % 69.8 % 81.7 % +11.9
Leased and owned hotels 318 318 134 209 56.6 % 200 248 24.1 % 66.8 % 84.3 % +17.5
Manachised and franchised hotels 3,323 3,323 128 168 31.3 % 182 206 13.3 % 70.2 % 81.3 % +11.1
Midscale, upper-midscale hotels and others 2,898 2,898 197 283 44.2 % 302 351 16.0 % 65.0 % 80.8 % +15.8
Leased and owned hotels 250 250 223 370 66.0 % 364 445 22.2 % 61.3 % 83.2 % +22.0
Manachised and franchised hotels 2,648 2,648 193 271 40.5 % 294 337 14.4 % 65.5 % 80.5 % +14.9
Total 6,539 6,539 164 230 40.8 % 243 283 16.7 % 67.3 % 81.2 % +13.9

 

Same-hotel operational data by class                
Mature hotels in operation for more than 18 months (excluding hotels under requisition)
  Number of hotels Same-hotel RevPAR Same-hotel ADR Same-hotel Occupancy
  As of
December 31,
 		 For the year yoy For the year yoy For the year yoy
  ended
December 31,		 change ended
December 31,		 change ended
December 31,		 change
  2022 2023 2022 2023   2022 2023   2022   2023   (p.p.)
Economy hotels 3,641 3,641 129 186 44.4 % 180 225 25.1 % 71.5 % 82.5 % +11.0
Leased and owned hotels 318 318 135 225 65.9 % 196 266 36.0 % 69.2 % 84.3 % +15.2
Manachised and franchised hotels 3,323 3,323 128 180 41.0 % 178 219 23.2 % 71.8 % 82.2 % +10.4
Midscale, upper-midscale hotels and others 2,898 2,898 198 301 51.9 % 304 369 21.7 % 65.2 % 81.4 % +16.2
Leased and owned hotels 250 250 219 381 74.0 % 365 465 27.5 % 60.1 % 82.0 % +21.9
Manachised and franchised hotels 2,648 2,648 195 288 48.0 % 295 354 20.1 % 66.0 % 81.3 % +15.3
Total 6,539 6,539 163 244 49.4 % 239 298 24.6 % 68.3 % 81.9 % +13.6

Operating Results: Legacy-DH(3)

　 Number of hotels 　 Number of
rooms		 　 Unopened hotels
in pipeline
　 Opened
in Q4 2023		 Closed
in Q4 2023		 Net added
in Q4 2023		 As of
December
31, 2023(4)		 　

　
 		 As of
December
31,2023		 　

　
 		 As of
December
31,2023
 
　
Leased hotels 2 - 2 84   16,303   21
Manachised and franchised hotels - - - 47   10,511   16
Total 2 - 2 131   26,814   37
(3)   Legacy-DH refers to DH.
(4)   As of December 31, 2023, a total of 2 hotels were temporarily closed due to repair work.

 

  For the quarter ended 　
  December 31, September 30, December 31, yoy
　 2022   2023   2023   change
Average daily room rate (in EUR)        
Leased hotels 114   113   118   3.1 %
Manachised and franchised hotels 134   116   111   -17.3 %
Blended 122   114   115   -5.9 %
Occupancy rate (as a percentage)        
Leased hotels 60.0 % 71.4 % 64.7 % +4.7 p.p.  
Manachised and franchised hotels 58.3 % 65.5 % 62.6 % +4.3 p.p.  
Blended 59.3 % 69.0 % 63.8 % +4.5 p.p.  
RevPAR (in EUR)        
Leased hotels 68   81   76   11.2 %
Manachised and franchised hotels 78   76   69   -11.2 %
Blended 72   79   73   1.3 %

 

　 For full year ended
　 December 31, December 31, yoy
　 2022   2023   change
Average daily room rate (in EUR) 　 　
Leased and owned hotels 110   115   4.6 %
Manachised and franchised hotels 113   110   -3.2 %
Blended 111   113   1.4 %
Occupancy Rate (as a percentage) 　 　
Leased and owned hotels 56.0 % 64.7 % +8.7 p.p.  
Manachised and franchised hotels 56.4 % 61.6 % +5.1 p.p.  
Blended 56.2 % 63.4 % +7.2 p.p.  
RevPAR (in EUR)   　 　
Leased and owned hotels 61   74   20.9 %
Manachised and franchised hotels 64   67   5.6 %
Blended 62   71   14.5 %

Hotel Portfolio by Brand

　 As of December 31, 2023
　 Hotels Rooms Unopened hotels
　 in operation in pipeline
Economy hotels 4,984 407,657 1,121
HanTing Hotel 3,598 317,647 731
Hi Inn 471 24,431 180
Ni Hao Hotel 269 20,009 177
Elan Hotel 404 21,012 1
Ibis Hotel 226 22,659 17
Zleep Hotels 16 1,899 15
Midscale hotels 3,543 379,614 1,503
Ibis Styles Hotel 105 10,607 24
Starway Hotel 670 55,786 228
JI Hotel 2,116 244,175 936
Orange Hotel 652 69,046 315
Upper midscale hotels 704 98,508 397
Crystal Orange Hotel 183 23,664 119
CitiGO Hotel 35 5,308 4
Manxin Hotel 137 12,678 69
Madison Hotel 90 11,704 64
Mercure Hotel 164 25,803 58
Novotel Hotel 23 5,763 17
IntercityHotel(5) 63 12,219 64
MAXX(6) 9 1,369 2
Upscale hotels 137 21,046 69
Jaz in the City 3 587 1
Joya Hotel 7 1,234 -
Blossom House 63 2,791 56
Grand Mercure Hotel 10 2,039 2
Steigenberger Hotels & Resorts(7) 54 14,395 10
Luxury hotels 16 2,360 2
Steigenberger Icon(8) 9 1,847 2
Song Hotels 7 513 -
Others 10 3,259 6
Other hotels(9) 10 3,259 6
Total 9,394 912,444 3,098

(5)   As of December 31, 2023, 9 operational hotels and 53 pipeline hotels of IntercityHotel were in China.
(6)   As of December 31, 2023, 4 operational hotels and 2 pipeline hotels of MAXX were in China.
(7)   As of December 31, 2023, 11 operational hotels and 3 pipeline hotels of Steigenberger Hotels & Resorts were in China.
(8)   As of December 31, 2023, 3 operational hotels and 1 pipeline hotel of Steigenberger Icon were in China.
(9)   Other hotels include other partner hotels and other hotel brands in Yongle Huazhu Hotel & Resort Group (excluding Steigenberger Hotels & Resorts and Blossom House).

About H World Group Limited
Originated in China, H World Group Limited is a key player in the global hotel industry. As of December 31, 2023, H World operated 9,394 hotels with 912,444 rooms in operation in 18 countries. H World’s brands include Hi Inn, Elan Hotel, HanTing Hotel, JI Hotel, Starway Hotel, Orange Hotel, Crystal Orange Hotel, Manxin Hotel, Madison Hotel, Joya Hotel, Blossom House, Ni Hao Hotel, CitiGO Hotel, Steigenberger Hotels & Resorts, MAXX, Jaz in the City, IntercityHotel, Zleep Hotels, Steigenberger Icon and Song Hotels. In addition, H World also has the rights as master franchisee for Mercure, Ibis and Ibis Styles, and co-development rights for Grand Mercure and Novotel, in the pan-China region.

H World’s business includes leased and owned, manachised and franchised models. Under the lease and ownership model, H World directly operates hotels typically located on leased or owned properties. Under the manachise model, H World manages manachised hotels through the on-site hotel managers that H World appoints, and H World collects fees from franchisees. Under the franchise model, H World provides training, reservations and support services to the franchised hotels, and collects fees from franchisees but does not appoint on-site hotel managers. H World applies a consistent standard and platform across all of its hotels. As of December 31, 2023, H World operates 11 percent of its hotel rooms under lease and ownership model, and 89 percent under manachise and franchise model.

For more information, please visit H World’s website: https://ir.hworld.com.

Safe Harbor Statement Under the U.S. Private Securities Litigation Reform Act of 1995: The information in this release contains forward-looking statements which involve risks and uncertainties. Such factors and risks include our anticipated growth strategies; our future results of operations and financial condition; economic conditions; the regulatory environment; our ability to attract and retain customers and leverage our brands; trends and competition in the lodging industry; the expected growth of demand for lodging; and other factors and risks detailed in our filings with the U.S. Securities and Exchange Commission. Any statements contained herein that are not statements of historical fact may be deemed to be forward-looking statements, which may be identified by terminology such as “may,” “should,” “will,” “expect,” “plan,” “intend,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “forecast,” “project” or “continue,” the negative of such terms or other comparable terminology. Readers should not rely on forward-looking statements as predictions of future events or results.

H World undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, unless required by applicable law.

Contact Information
Investor Relations
Tel: +86 (21) 6195 9561
Email: ir@hworld.com
https://ir.hworld.com


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