H World Q2 Net Income Rises; Revenue Up 11.2%

(RTTNews) - H World Group Limited reported that its second quarter net income attributable to H World was RMB 1.1 billion, compared with RMB 1.0 billion in the second quarter of 2023. Earnings per ADS was RMB 3.32 compared to RMB 3.11. Adjusted EBITDA was RMB 2.0 billion compared with RMB 1.8 billion.

Second quarter revenue increased 11.2% year-over-year to RMB 6.1 billion. Hotel turnover increased 15.5% year-over-year to RMB 23.4 billion.

For the third quarter, H World expects revenue growth to be in the range of 2%-5% compared to the third quarter of 2023, or in the range of 1%-4% excluding DH.

The company revised up hotel opening guidance for the full year of 2024, expecting to open over 2,200 hotels, up from previous guidance of around 1,800 hotels.

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