H World Group Limited Announces 2024 Financial Results

The company continued network expansion throughout the past year

Global hospitality firm H World Group Limited has released its unaudited financial results for the fourth quarter and full year ending December 31, 2024. H World demonstrated notable growth through network expansion and deepening market presence, particularly in China.

In 2024, H World added 231 new hotels across its brands, including Crystal Orange Hotel, Intercity Hotel, Maxx by Steigenberger, and Manxin Hotel. There are currently 526 upper-midscale hotels planned, marking a 32% increase from 2023.

CEO Jin Hui stated: “In 2024, H World achieved the 10,000-hotel milestone, while continuing our rapid network expansion in China. We opened over 2,400 new hotels, surpassing our initial target of 1,800 hotels. Despite a slight decline in Legacy-Huazhu’s RevPAR, our occupancy rate remained at 81.2%. Moving forward, we will maintain our asset-light strategy and enhance our sales capabilities through the H Rewards membership program.”

Exceptional Performance

In addition to its growth in China, H World’s Legacy-DH segment observed a 5.9% year-on-year RevPAR increase in 2024. The company plans to concentrate efforts on operational enhancements, cost efficiencies, and developing an asset-light portfolio going into 2025.

The adjusted EBITDA for the fourth quarter rose to US$171 million, reflecting a 10.3% year-over-year increase, while the full-year adjusted EBITDA totaled US$935 million, a rise of 8.8% from the prior year.

Loyalty Engagement in 2024

The company also reported a rise in H Rewards membership, reaching 267 million members in 2024. Revenue from central reservation systems was nearly two-thirds of total bookings, showcasing the increasing appeal of the H Rewards program.

Looking ahead, H World Group remains committed to high-quality, disciplined growth, supported by their robust development pipeline.