- H World Group Ltd HTHT reported a 16.2% increase in revenue in the third quarter of fiscal 22 year-over-year to $575.00 million, beating the consensus of $565.44 million.
- Segment revenue: Legacy Huazhu rose 7.7% to RMB 3.2 billion and Legacy DH rose 58.2% to RMB 932 million.
- The occupancy rate for all operating legacy Huazhu hotels was 76.0% versus 71.9% in Q321, and the blended RevPAR was RMB193 versus RMB177 in Q321.
- Operating income for the quarter was RMB500 million or US$70 million and the operating margin increased to 12.2% Y/Y from 2.0%.
- The Company had RMB5.2 billion (US$728 million) in cash and cash equivalents as of September 30, 2022.
- Adjusted EBITDA was RMB 491 million or US$69 million compared to RMB 385 million last year.
- Adjusted loss per ADS of $(0.17) beat analyst consensus of $(0.66).
- For Q4, Huazhu expects revenue to grow 7% to 11% Y/Y or decline 1% to 5% excluding DH.
- As of September 30, 2022, H World’s global hotel network comprised a total of 8,402 hotels and 797,489 rooms, including 126 hotels owned by DH.
- Price promotion: HTHT shares are trading up 0.90% at $33.64 on the last check Monday premarket.
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