H World Group Limited (HTHT) has released an update.
H World Group Limited has reported a significant year-over-year increase in hotel turnover, revenue, and net income for both the fourth quarter and the full year of 2023, surpassing previously announced revenue guidance. The global hotel network now operates 9,394 hotels with 912,444 rooms, and expects revenue growth of 8%-12% for 2024 with plans to open 1,800 hotels and close 650. The company’s strong financial performance is attributed to robust demand in leisure and business travel, which has led to a recovery in revenue per available room (RevPAR) to 122% of the 2019 level.
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