H World Group Ltd releases 2024 financials
The company continued network expansion throughout the past year
Global hospitality firm H World Group Limited released its unaudited financial results for the fourth quarter and full year ended 31st December 2024.
H World continued its significant network expansion, deepening its presence in the Chinese market and expanding its global footprint.
In 2024, H World added 231 new hotels in the upper-mid scale segment, under brands such as Crystal Orange Hotel, Intercity Hotel, Maxx by Steigenberger and Manxin Hotel.
There are 526 upper-midscale hotels in the pipeline, a 32 percent increase over 2023.
Company chief executive Jin Hui said: “In 2024, H World achieved the 10,000-hotel milestone, while continuing our rapid fast network expansion in China. In the year of 2024, Legacy-Huazhu opened over 2,400 new hotels, far exceeding our initial target of 1,800 hotels, supported by our strong brand reputation and excellent product quality. While Legacy-Huazhu’s full-year RevPAR declined slightly year-over-year from a high base the previous year, Legacy-Huazhu maintained a high occupancy rate of 81.2 percent, which we believe is encouraging given the speed of our network expansion. Looking ahead, we will continue to implement our asset-light strategy, pursue high-quality hotel network growth, strengthen brand positioning, and enhance sales capability centered around our H Rewards membership programme.”
Exceptional performance
With regard to the company’s business outside China, H World’s Legacy-DH recorded a 5.9 percent year- on-year RevPAR increase in 2024.
Looking into 2025, H World will continue to enhance its hotel operations, focus on cost reduction and efficiency improvement, and continue developing an asset-light portfolio.
Likewise, EBITDA performance during the period demonstrated underlying profitability of the business, supported by continued growth in high-margin, fee-based revenue.
Despite the impact of impairment losses and one-off restructuring items, fourth quarter adjusted EBITDA totaled US$171 million, up 10.3 percent year-over-year.
Full year adjusted EBITDA totaled US$935 million, an increase of 8.8 percent year-over-year.
Furthermore, the Group continued to enhance its diverse portfolio to meet shifting needs of travelers in key markets.
Loyalty engagement in 2024
Loyalty engagement also continued to grow, with H Rewards membership rising to 267 million.
Contributions from central reservation systems increased four percent year-over-year to almost two thirds of all bookings, reflecting the growing appeal of the H Rewards programme and the company’s digital innovations.
New mobile features, dynamic pricing capabilities, and personalised booking experiences have further strengthened guest engagement and boosted direct booking conversion.
Looking ahead, H World Group remains focused on high-quality, disciplined growth.
With a robust development pipeline, continued upgrades of products and direct sales capabilities, the Group is positioned to drive long-term value and deliver consistent, sustainable performance.
