H World Q1 GMV Up 17.4% to RMB26.4B; EBITDA Jumps 24.2%
H World opened 537 new hotels in Q1, lifting its network to 13,215 properties across 1,461 Chinese cities and six APAC markets. Revenue from franchised and managed assets grew 20.3% to RMB3.0 billion as adjusted EBITDA surged 24.2% to RMB1.9 billion.
1. Q1 Financial Performance
H World posted first-quarter hotel GMV of RMB26.4 billion, up 17.4% year-on-year. Revenue from franchised and managed properties rose 20.3% to RMB3.0 billion while adjusted EBITDA climbed 24.2% to RMB1.9 billion.
2. China Network Expansion
The group opened 537 new hotels in China during Q1, bringing its domestic network to 13,095 properties across 1,461 cities. This expansion aligns with a full-year target of 2,200–2,300 openings and strengthens its presence in lower-tier markets.
3. APAC Footprint Growth
H World operates six hotels in APAC and has roughly ten more in the pipeline. The opening of its first overseas JI Hotel 5.0 in Vientiane highlights its use of Singapore as a regional hub to penetrate Vietnam, Laos and Cambodia.
4. Loyalty and Digital Engagement
Room nights booked by H Rewards members increased 10.7% to 60 million, reflecting growing customer engagement. The company plans to enhance its AI and digital capabilities to drive member-centric sales and support high-quality network expansion.