H World Group Reports Q1 Results, Highlighting Asset-light Growth and Expanding APAC Footprint
H World Group reported Q1 2026 revenue of RMB 3.0 billion, up 20.3% year-over-year, driven by strong demand in its asset-light managed and franchised segments. Hotel GMV reached RMB 26.4 billion, a 17.4% increase, while Adjusted EBITDA grew 24.2% to RMB 1.9 billion. Blended ADR rose 4.5% and RevPAR increased 3.0% year-over-year. The company opened 537 new hotels in China during the quarter, putting it on track for a full-year target of 2,200 to 2,300 openings.
Key figures
- Revenue
- RMB 3.0 billion
- Revenue Yoy
- 20.3%
- Gmv
- RMB 26.4 billion
- Adr yoy
- 4.5%
- Gmv yoy
- 17.4%
- Revpar yoy
- 3.0%
- Total rooms
- 1303563
- Adjusted ebitda
- RMB 1.9 billion
- Hotels opened q1
- 537
- Adjusted ebitda yoy
- 24.2%
- Loyalty room nights
- 60 million
- Cities covered china
- 1461
- Total hotels operating
- 13215
- Loyalty room nights yoy
- 10.7%
- Full year opening target
- 2,200 to 2,300
AI analysis
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