H World reports Q3 EPS 6c vs. 41c last year

Reports Q3 revenue RMB6.4B vs. RMB 6.3B last year. Jin Hui, CEO, commented: “After reaching the milestone of 10,000 hotels in the second quarter, we continued our fast-paced, high-quality network growth and opened 774 new hotels in China in Q3 2024. Our occupancy rate remained solid at 85% despite our ongoing rapid hotel network expansion. Going forward, we will continue to emphasize the importance of sustainable high-quality growth. We aim to expand our presence across all regions and continue penetrating into lower-tier cities in China, thereby reaching more of China’s hotel market with our high-quality hotel products with excellent services. Regarding our business outside China, We continued focusing on cost reduction in our European business, while at the same time seeking growth opportunities in the Asia-Pacific and in the Middle East areas.”