Chinese hotel giant H World Group said its revenue increased 2.4% year-over-year to RMB6.4 billion (USD918 million) in the third quarter of 2024, within the previously announced 2% to 5% revenue increase guidance ascompared to the third quarter of 2023.
Net income attributable to H World Group Limited was RMB1.3 billion (US$181 million) in the third quarter of 2024, compared with RMB1.3 billion in the third quarter of 2023 and RMB1.1 billion in the previous quarter.
Legacy-Huazhu’s ADR was RMB301 in the third quarter of 2024, compared with RMB324 in the third quarter of 2023 and RMB296 in the previous quarter.
The occupancy rate for all the Legacy-Huazhu hotels in operation was 84.9% in the third quarter of 2024, compared with 85.9% in the third quarter of 2023 and 82.6% in the previous quarter.
RevPAR was down by 7.9% to RMB 256 for the quarter.
For all the Legacy-Huazhu hotels which had been in operation for at least 18 months, the same-hotel RevPAR was RMB258 in the third quarter of 2024, representing a 10.3% decline from RMB288 in the third quarter of 2023, with a 8.4% decrease in same-hotel ADR and a 1.8 percentage-point decrease in same-hotel occupancy rate.
