H World Announces Q3 2023 Financial Results
Continuous Revenue Growth Exceeds Guidance Legacy-Huazhu's RevPAR Hits a New High
Continuous Revenue Growth Exceeds Guidance Legacy-Huazhu's RevPAR Hits a New High
For the Legacy-Huazhu business, our RevPAR in Q3 2023 recovered to 129% of the 2019 level, supported by the strong travel demand. Breaking down into monthly numbers, our RevPAR in July, August and September 2023 recovered to 132%, 128% and 128% of the 2019 levels, respectively.
Hotel turnover increased 72.0% year-over-year to RMB20.3 billion in the second quarter of 2023. Excluding Steigenberger Hotels GmbH and its subsidiaries, hotel turnover increased 78.1% year-over-year in the second quarter of 2023.
Hotel turnover increased 71.3% year-over-year to RMB16.2 billion in the first quarter of 2023.
For our Legacy-Huazhu business, our RevPAR in Q1 2023 recovered to 118% of the 2019 level. Breaking down into monthly numbers, our RevPAR in January, February and March 2023 recovered to 96%, 140% and 120% of the 2019 levels, respectively.
Hotel turnover increased 10.5% year-over-year to RMB13.1 billion in the fourth quarter of 2022, and increased 9.3% year-over-year to RMB49.6 billion for the full year of 2022.
For the Legacy-Huazhu business, RevPAR in Q4 2022 recovered to 83% of the 2019 level. The recovery was accelerated after Chinese Government announced the reopening policy in mid-November.
Hotel turnover increased 24.4% year-over-year to RMB15.2 billion in the third quarter of 2022.
For the Legacy-Huazhu business, RevPAR in Q3 2022 recovered to 90% of the 2019 level, thanks to pent-up leisure travelling demand in the summer holiday during July and August 2022, as well as gradual recovery of business travelling in late September 2022.
Hotel turnover decreased 10.3% year-over-year to RMB11.8 billion in the second quarter of 2022. Excluding Steigenberger Hotels AG and its subsidiaries, hotel turnover decreased 18.9% year-over-year in the second quarter of 2022.