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SHANGHAI, China, Oct. 25, 2022 (GLOBE NEWSWIRE) — H World Group Limited (NASDAQ: HTHT and HKEX: 1179) (“H World”, “we” or “our”), a key participant within the international lodge trade, as we speak introduced preliminary outcomes for lodge operations within the third quarter (“Q3 2022”) ended September 30, 2022.
COVID-19 replace
For our Legacy-Huazhu business, our RevPAR in Q3 2022 recovered to 90% of the 2019 degree, due to pent-up leisure travelling demand in the summertime vacation throughout July and August 2022, in addition to gradual restoration of business travelling in late September 2022. Breaking down into every month, our RevPAR in July, August and September 2022 recovered to 90%, 89% and 90% of the 2019 ranges, respectively. However, we stay cautious on the restoration path in This fall 2022 as we’re seeing extra sporadic resurgences of COVID in numerous provinces and cities in China lately.
Steigenberger Hotels AG and its subsidiaries (“DH”, or “Legacy-DH”) have skilled persevering with RevPAR restoration in Q3 2022. After recovering to 93% of 2019 ranges in Q2 2022, blended RevPAR elevated to 102% of 2019 ranges in Q3 2022. Blended RevPAR restoration was pushed by a 17% improve in ADR, whereas occupancy remained 10 share factors behind 2019 ranges. Due to anticipated vitality shortages and ensuing excessive inflation charges in Europe, additional ADR will increase will likely be required to cowl the associated fee will increase. Therefore, the main focus of DH will proceed to be on effectivity enhancements, re-negotiation of lease contracts, and personnel value optimization.
Operating Results: Legacy-Huazhu(1)
| Number of motels | Number of rooms | |||||||
| Opened in Q3 2022 |
Closed (2) in Q3 2022 |
Net added in Q3 2022 |
As of September 30, 2022 (3) |
As of September 30, 2022 |
||||
| Leased and owned motels | 4 | (19 | ) | (15 | ) | 631 | 90,034 | |
| Manachised and franchised motels | 425 | (185 | ) | 240 | 7,645 | 682,193 | ||
| Total | 429 | (204 | ) | 225 | 8,276 | 772,227 | ||
| (1) Legacy-Huazhu refers to H World and its subsidiaries, excluding DH. (2) The causes for lodge closures primarily included non-compliance with our model requirements, working losses, and property-related points. In Q3 2022, we briefly closed 14 motels for model improve and business mannequin change functions. (3) As of September 30, 2022, 558 motels had been requisitioned by governmental authorities. |
||||||||
| As of September 30, 2022 | ||
| Number of motels | Unopened motels in pipeline | |
| Economy motels | 4,898 | 950 |
| Leased and owned motels | 363 | 1 |
| Manachised and franchised motels | 4,535 | 949 |
| Midscale and upscale motels | 3,378 | 1,324 |
| Leased and owned motels | 268 | 16 |
| Manachised and franchised motels | 3,110 | 1,308 |
| Total | 8,276 | 2,274 |
| Operational motels excluding motels below requisition(4) | ||||||||
| For the quarter ended | ||||||||
| September 30, | June 30, | September 30, | yoy | |||||
| 2021 | 2022 | 2022 | change | |||||
| Average every day room price (in RMB) | ||||||||
| Leased and owned motels | 296 | 243 | 294 | -0.6 | % | |||
| Manachised and franchised motels | 238 | 215 | 248 | 4.3 | % | |||
| Blended | 246 | 218 | 254 | 3.1 | % | |||
| Occupancy Rate (as a share) | ||||||||
| Leased and owned motels | 69.7 | % | 62.9 | % | 73.1 | % | +3.4 p.p. | |
| Manachised and franchised motels | 72.2 | % | 64.9 | % | 76.4 | % | +4.2 p.p. | |
| Blended | 71.9 | % | 64.6 | % | 76.0 | % | +4.2 p.p. | |
| RevPAR (in RMB) | ||||||||
| Leased and owned motels | 206 | 153 | 215 | 4.2 | % | |||
| Manachised and franchised motels | 172 | 139 | 190 | 10.4 | % | |||
| Blended | 177 | 141 | 193 | 9.1 | % | |||
| For the quarter ended | ||||||
| September 30, | September 30, | yoy | ||||
| 2019 | 2022 | change | ||||
| Average every day room price (in RMB) | ||||||
| Leased and owned motels | 288 | 294 | 2.1 | % | ||
| Manachised and franchised motels | 235 | 248 | 5.5 | % | ||
| Blended | 245 | 254 | 3.4 | % | ||
| Occupancy Rate (as a share) | ||||||
| Leased and owned motels | 90.0 | % | 73.1 | % | -16.9 p.p. | |
| Manachised and franchised motels | 87.2 | % | 76.4 | % | -10.8 p.p. | |
| Blended | 87.7 | % | 76.0 | % | -11.7 p.p. | |
| RevPAR (in RMB) | ||||||
| Leased and owned motels | 259 | 215 | -17.1 | % | ||
| Manachised and franchised motels | 205 | 190 | -7.5 | % | ||
| Blended | 215 | 193 | -10.3 | % | ||
(4) If together with motels below requisition, RevPAR in Q3 2022 would have been 90% of the 2019 degree.
| Same-hotel operational knowledge by class | |||||||||||||||
| Mature motels in operation for greater than 18 months (excluding motels below requisition) | |||||||||||||||
| Number of motels | Same-hotel RevPAR | Same-hotel ADR | Same-hotel Occupancy | ||||||||||||
| As of September 30, |
For the quarter | yoy | For the quarter | yoy | For the quarter | yoy | |||||||||
| ended September 30, |
change | ended September 30, |
change | ended September 30, |
change | ||||||||||
| 2021 | 2022 | 2021 | 2022 | 2021 | 2022 | 2021 | 2022 | (p.p.) | |||||||
| Economy motels | 3,366 | 3,366 | 146 | 148 | 1.4 | % | 189 | 188 | -0.7 | % | 77.0 | % | 78.6 | % | +1.6 |
| Leased and owned motels | 363 | 363 | 158 | 164 | 3.7 | % | 215 | 211 | -1.8 | % | 73.5 | % | 77.6 | % | +4.1 |
| Manachised and franchised motels | 3,003 | 3,003 | 143 | 145 | 1.0 | % | 185 | 184 | -0.5 | % | 77.6 | % | 78.7 | % | +1.1 |
| Midscale and upscale motels | 2,122 | 2,122 | 228 | 242 | 6.2 | % | 324 | 322 | -0.5 | % | 70.3 | % | 75.0 | % | +4.7 |
| Leased and owned motels | 233 | 233 | 261 | 273 | 4.6 | % | 398 | 389 | -2.4 | % | 65.5 | % | 70.3 | % | +4.7 |
| Manachised and franchised motels | 1,889 | 1,889 | 221 | 236 | 6.6 | % | 311 | 311 | 0.0 | % | 71.2 | % | 75.8 | % | +4.7 |
| Total | 5,488 | 5,488 | 183 | 190 | 3.9 | % | 248 | 248 | -0.2 | % | 73.9 | % | 76.9 | % | +3.0 |
| Number of motels | Same-hotel RevPAR | Same-hotel ADR | Same-hotel Occupancy | ||||||||||||
| As of September 30, |
For the quarter | yoy | For the quarter | yoy | For the quarter | yoy | |||||||||
| ended September 30, |
change | ended September 30, |
change | ended September 30, |
change | ||||||||||
| 2019 | 2022 | 2019 | 2022 | 2019 | 2022 | 2019 | 2022 | (p.p.) | |||||||
| Economy motels | 2,057 | 2,057 | 189 | 147 | -22.5 | % | 203 | 187 | -7.5 | % | 93.5 | % | 78.4 | % | -15.2 |
| Leased and owned motels | 346 | 346 | 211 | 161 | -23.5 | % | 226 | 208 | -7.9 | % | 93.4 | % | 77.5 | % | -15.9 |
| Manachised and franchised motels | 1,711 | 1,711 | 184 | 143 | -22.1 | % | 196 | 182 | -7.3 | % | 93.5 | % | 78.6 | % | -14.9 |
| Midscale and upscale motels | 994 | 994 | 295 | 234 | -20.7 | % | 341 | 319 | -6.3 | % | 86.7 | % | 73.4 | % | -13.2 |
| Leased and owned motels | 181 | 181 | 354 | 251 | -29.2 | % | 405 | 362 | -10.5 | % | 87.5 | % | 69.2 | % | -18.2 |
| Manachised and franchised motels | 813 | 813 | 277 | 229 | -17.3 | % | 321 | 307 | -4.3 | % | 86.4 | % | 74.7 | % | -11.7 |
| Total | 3,051 | 3,051 | 230 | 180 | -21.6 | % | 254 | 236 | -6.9 | % | 90.9 | % | 76.5 | % | -14.4 |
Operating Results: Legacy-DH(5)
| Number of motels | Number of rooms |
Unopened motels in pipeline |
||||||
| Opened in Q3 2022 |
Closed in Q3 2022 |
Net added in Q3 2022 |
As of September 30, 2022(6) |
|
As of September 30, 2022 |
|
As of September 30, 2022 |
|
| Leased motels | – | 79 | 14,939 | 27 | ||||
| Manachised and franchised motels | 1 | – | 1 | 47 | 10,323 | 12 | ||
| Total | 1 | – | 1 | 126 | 25,262 | 39 | ||
| (5) Legacy-DH refers to DH. (6) As of September 30, 2022, a complete of 4 motels had been briefly closed. 1 lodge was closed for renovation and 1 lodge was closed because of flood harm. Additionally, 1 lodge was briefly closed because of in depth lodge refurbishment, and 1 lodge was briefly closed because of seasonal break . |
||||||||
| For the quarter ended | ||||||||
| September 30, | June 30, | September 30, | yoy | |||||
| 2021 | 2022 | 2022 | change | |||||
| Average every day room price (in EUR) | ||||||||
| Leased motels | 94.3 | 112.6 | 112.9 | 19.7 | % | |||
| Manachised and franchised motels | 104.5 | 106.7 | 115.6 | 10.6 | % | |||
| Blended | 98.6 | 110.4 | 113.9 | 15.5 | % | |||
| Occupancy price (as a share) | ||||||||
| Leased motels | 48.0 | % | 61.2 | % | 67.4 | % | +19.5 p.p. | |
| Managed and franchised motels | 49.4 | % | 57.9 | % | 64.1 | % | +14.7 p.p. | |
| Blended | 48.6 | % | 59.8 | % | 66.1 | % | +17.5 p.p. | |
| RevPAR (in EUR) | ||||||||
| Leased motels | 45.3 | 68.9 | 76.1 | 68.2 | % | |||
| Managed and franchised motels | 51.6 | 61.8 | 74.1 | 43.5 | % | |||
| Blended | 47.9 | 66.0 | 75.3 | 57.2 | % | |||
Hotel Portfolio by Brand
| As of September 30, 2022 | |||
| Hotels | Rooms | Unopened motels | |
| in operation | in pipeline | ||
| Economy motels | 4,913 | 386,911 | 964 |
| HanTing Hotel | 3,207 | 285,313 | 603 |
| Hi Inn | 460 | 24,128 | 127 |
| Ni Hao Hotel | 140 | 10,074 | 192 |
| Elan Hotel | 868 | 42,810 | – |
| Ibis Hotel | 223 | 22,876 | 28 |
| Zleep Hotels | 15 | 1,710 | 14 |
| Midscale motels | 2,816 | 308,164 | 1,001 |
| Ibis Styles Hotel | 85 | 8,864 | 18 |
| Starway Hotel | 565 | 46,492 | 212 |
| JI Hotel | 1,629 | 192,872 | 534 |
| Orange Hotel | 505 | 54,822 | 229 |
| CitiGO Hotel | 32 | 5,114 | 8 |
| Upper midscale motels | 525 | 75,500 | 263 |
| Crystal Orange Hotel | 161 | 21,314 | 53 |
| Manxin Hotel | 111 | 10,443 | 52 |
| Madison Hotel | 50 | 7,276 | 62 |
| Mercure Hotel | 133 | 22,250 | 54 |
| Novotel Hotel | 17 | 4,424 | 18 |
| IntercityHotel(7) | 53 | 9,793 | 24 |
| Upscale motels | 124 | 21,223 | 76 |
| Jaz within the City | 3 | 587 | 1 |
| Joya Hotel | 8 | 1,368 | 1 |
| Blossom House | 43 | 2,055 | 52 |
| Grand Mercure Hotel | 8 | 1,897 | 5 |
| Steigenberger Hotels & Resorts(8) | 53 | 13,754 | 10 |
| MAXX(9) | 9 | 1,562 | 7 |
| Luxury motels | 15 | 2,326 | 4 |
| Steigenberger Icon(10) | 9 | 1,847 | 1 |
| Song Hotels | 6 | 479 | 3 |
| Others | 9 | 3,365 | 5 |
| Other motels(11) | 9 | 3,365 | 5 |
| Total | 8,402 | 797,489 | 2,313 |
(7) As of September 30, 2022, 3 operational motels and 10 pipeline motels of IntercityHotel had been in China.
(8) As of September 30, 2022, 11 operational motels and three pipeline motels of Steigenberger Hotels & Resorts had been in China.
(9) As of September 30, 2022, 3 operational motels and seven pipeline motels of MAXX had been in China.
(10) As of September 30, 2022, 3 operational motels of Steigenberger Icon had been in China.
(11) Other motels embrace different accomplice motels and different lodge manufacturers 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 participant within the international lodge trade. As of September 30, 2022, H World operated 8,402 motels with 797,489 rooms in operation in 17 international locations. H World’s manufacturers embrace 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 within the City, IntercityHotel, Zleep Hotels, Steigenberger Icon and Song Hotels. In addition, H World additionally has the rights as grasp franchisee for Mercure, Ibis and Ibis Styles, and co-development rights for Grand Mercure and Novotel, within the pan-China area.
H World’s business consists of leased and owned, manachised and franchised fashions. Under the lease and possession mannequin, H World instantly operates motels usually situated on leased or owned properties. Under the manachise mannequin, H World manages manachised motels by the on-site lodge managers that H World appoints, and H World collects charges from franchisees. Under the franchise mannequin, H World supplies coaching, reservations and assist providers to the franchised motels, and collects charges from franchisees however doesn’t appoint on-site lodge managers. H World applies a constant customary and platform throughout all of its motels. As of September 30, 2022, H World operates 13 % of its lodge rooms below lease and possession mannequin, and 87 % below manachise and franchise fashions.
For extra data, please go to H World’s web site: https://ir.hworld.com.
Safe Harbor Statement Under the U.S. Private Securities Litigation Reform Act of 1995: The data on this launch comprises forward-looking statements which contain dangers and uncertainties. Such elements and dangers embrace our anticipated progress methods; our future outcomes of operations and monetary situation; financial circumstances; the regulatory setting; our potential to draw and retain clients and leverage our manufacturers; developments and competitors within the lodging trade; the anticipated progress of demand for lodging; and different elements and dangers detailed in our filings with the U.S. Securities and Exchange Commission. Any statements contained herein that aren’t statements of historic reality could also be deemed to be forward-looking statements, which can be recognized by terminology corresponding to “may,” “should,” “will,” “expect,” “plan,” “intend,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “forecast,” “project” or “continue,” the unfavorable of such phrases or different comparable terminology. Readers shouldn’t depend on forward-looking statements as predictions of future occasions or outcomes.
H World undertakes no obligation to replace or revise any forward-looking statements, whether or not because of new data, future occasions or in any other case, until required by relevant regulation.
Contact Information
Investor Relations
Tel: +86 (21) 6195 9561
Email: [email protected]
https://ir.hworld.com
