H World Group’s Impressive Financial Performance in 2024: A New Milestone in the Global Hotel Industry
In a recent press release, H World Group Limited, a leading player in the global hotel industry, shared its unaudited financial results for the fourth quarter and full year ended December 31, 2024. The company’s financial performance was nothing short of impressive, with accelerated network expansion, asset-light revenue growth, and rising membership and CRS contribution underscoring long-term momentum.
Financial Highlights
The fourth quarter revenue increased by 7.8% Year-on-Year (Y-o-Y) to reach RMB6.0 billion (US$825 million). This growth was driven by the company’s robust performance in the Chinese market, which accounted for 72% of the total revenue.
Furthermore, the 2024 full-year revenue grew by 9.2% Y-o-Y, reaching RMB23.9 billion (US$3.3 billion). This impressive growth was driven by the company’s focus on expanding its hotel network, increasing membership, and optimizing its distribution channels.
Expansion and Growth
During 2024, H World Group opened a record-breaking 2,442 new hotels, bringing the total number of hotels in its network to 11,147. With 3013 hotels in the pipeline as of year-end, the company is well-positioned to continue its growth trajectory.
Shareholder Returns
In addition to its strong financial performance, H World Group returned approximately US$767 million to shareholders through cash dividends and share repurchases in 2024.
Impact on Individuals
For individual travelers, this expansion means more options for affordable and convenient accommodations, particularly in the Chinese market. With a larger network of hotels, H World Group is better positioned to offer competitive prices and loyalty programs to attract and retain customers.
Impact on the World
On a global scale, H World Group’s financial performance and expansion plans are a positive sign for the hotel industry, which has been hit hard by the COVID-19 pandemic. The company’s success in the Chinese market, which is the largest and fastest-growing travel market in the world, is particularly noteworthy.
Conclusion
In conclusion, H World Group’s financial results for the fourth quarter and full year ended December 31, 2024, demonstrate the company’s strong momentum and resilience in the face of challenges. With accelerated network expansion, asset-light revenue growth, and rising membership and CRS contribution, H World Group is well-positioned to continue its growth trajectory and make a positive impact on the global hotel industry.
- Accelerated network expansion with 2,442 new hotel openings in 2024
- Asset-light revenue growth with RMB23.9 billion (US$3.3 billion) in full-year revenue
- Rising membership and CRS contribution
- Returned approximately US$767 million to shareholders in 2024
- Positive sign for the hotel industry, particularly in the Chinese market
