H World Group Limited, a prominent name in the global hospitality sector, has released its unaudited financial results for the year 2025, highlighting remarkable growth attributed to its asset-light strategy. The company, which recently celebrated two decades of operation, has successfully opened more than 2,400 new hotels, significantly broadening its network.

The asset-light approach has been crucial for the company’s expansion. In the last quarter, the hotel gross merchandise value (GMV) experienced an increase of 18.4% year-over-year, reaching RMB 28.1 billion, while revenue from managed and franchised properties soared by 21% to RMB 3.0 billion. The adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) hit RMB 2.2 billion.

For the complete year of 2025, hotel GMV went up by 16.4% to RMB 108.1 billion, with revenue from managed and franchised hotels rising by 23.1% to RMB 11.7 billion. For the year, the group recorded an adjusted EBITDA of RMB 8.5 billion, which signifies a 24.2% increase compared to the last year.

H World continues to dominate the mass market through a brand-led growth strategy, enhancing its hotel network and emerging flagship brands. By the end of 2025, the group had 12,858 operational hotels, with over 1.26 million rooms, reflecting a 16.2% growth in total inventory. The H Rewards loyalty program also registered a 21.5% increase in member bookings.

Furthermore, the company has made significant strides in revitalizing its legacy Deutsche Hospitality branch, achieving an adjusted EBITDA of RMB 499 million for 2025, reversing a loss reported in 2024.

Looking ahead, H World aims to elevate product standards, strengthen commercial capabilities, and infuse technology into its operations to ensure continued growth and value creation.