H World Group LimitedNASDAQ: HTHT

SHANGHAI, July 02, 2024 (GLOBE NEWSWIRE) -- H World Group Limited (NASDAQ: HTHT and HKEX: 1179) (“H World” or the “Company”), a key player in the global hotel industry, today announced that (i) Mr. Shangzhi Zhang will step down as a director of the board of directors of the Company (the “Board”) and serve as an observer of the Board, effective from July 2, 2024, and (ii) Ms. Jie Zheng, a senior advisor of the Company and a supervisory board member of Steigenberger Hotels GmbH, a subsidiary of the Company, will serve as an executive director of the Board, effective from the same date.

HTHT expects a slower pace of revenue growth for Q2 as per its guidance, and industry data suggests that the Mainland Chinese hotel industry has underperformed in this year's Labor Day holiday in May. But H World's long-term outlook is favorable, taking into consideration its potential to penetrate new Chinese cities and the shift towards a capital-light model for its overseas hotel business. HTHT is still rated as a Hold following an assessment of the company's prospects for the near term and the long run.

H World's (HTHT) first-quarter 2024 results reflect growth in hotel openings and increased RevPAR, driving notable contributions from its two reportable segments.

H World Group Limited (NASDAQ:HTHT ) Q1 2024 Results Conference Call May 19, 2024 9:00 PM ET Company Participants Jason Chen - Investor Relations Director Ji Qi - Chairman Jin Hui - Chief Executive Officer Zou Jun - Executive VP & CFO Conference Call Participants Roland Leung - Bank of America Dan Xu - Morgan Stanley Simon Cheung - Goldman Sachs Lydia Ling - Citi Sijie Lin - CICC Operator Good day, and thank you for standing by. Welcome to H World Q1 2024 Earnings Conference Call.

H World Group Limited, a prominent company in the worldwide hotel industry, disclosed its unaudited financial results for the first quarter ending on March 31, 2024, in both Singapore and Shanghai, China on May 17, 2024. The company is listed on NASDAQ under the ticker symbol HTHT and on the Hong Kong Stock Exchange under the symbol 1179.

H World Group's (HTHT) revenue for the first quarter of 2024 is expected to have been boosted by continued growth in both leisure and business travel.

H World Group Limited, a major player in the global hotel industry, has announced that it will release its unaudited financial results for the first quarter of 2024 on Friday, May 17, 2024, after trading hours in Hong Kong and before the U.S. market opens.

H World Group (HTHT) came out with quarterly earnings of $0.33 per share, beating the Zacks Consensus Estimate of $0.31 per share. This compares to loss of $0.06 per share a year ago.

H World Group's (HTHT) fourth-quarter 2023 top line is likely to benefit from the sustained recovery in both leisure and business travel demand.