NASDAQ$HTHT
Huazhu Group Ltd-ADR · Q2 2025 earnings
Q2 2025 earnings · · Before market open · Investor relations
Briefing
H World Q2 2025: revenue up 4.5% to RMB 6.43B as asset-light franchised hotels drive margin expansion
H World Group reported Q2 2025 unaudited results for the quarter ended June 30, 2025, with revenue rising 4.5% year over year to RMB 6.43 billion despite modest RevPAR pressure in China. Manachised and franchised revenue jumped 22.8% to RMB 2.87 billion while leased-and-owned revenue declined 7.6% as the company continued shifting toward an asset-light model. Net income attributable to H World was RMB 1.54 billion, up 44.7%, and operating margin improved to 27.8% from 25.6%. Legacy-Huazhu revenue grew 5.7% to RMB 5.1 billion and the global network reached 12,137 hotels with 1.18 million rooms. The board declared a H1 2025 cash dividend of about $250 million and guided Q3 2025 revenue growth of 2%-6%.
- Q2 revenue rose 4.5% to RMB 6.43B; manachised and franchised revenue climbed 22.8% to RMB 2.87B.
- Net income attributable to H World was RMB 1.54B, up 44.7%, with operating margin expanding to 27.8%.
- Legacy-Huazhu revenue grew 5.7% to RMB 5.1B; Legacy-DH revenue was roughly flat at RMB 1.3B.
- The company operated 12,137 hotels with 1.18M rooms and opened 595 Legacy-Huazhu hotels in the quarter.
- Q3 2025 revenue is expected to grow 2%-6% YoY, or 4%-8% excluding DH; manachised/franchised revenue growth guided at 20%-24%.
Headline financials
Revenue & EPS history
Huazhu · Revenue · Quarterly
¥6.43B
Forward guidance
For Q3 2025, H World expects consolidated revenue growth of 2%-6% year over year, or 4%-8% excluding DH, with manachised and franchised revenue growth of 20%-24%.
Tailwinds
- Asset-light manachised and franchised revenue expected to grow 20%-24% in Q3.
- Legacy-Huazhu network expansion remains on track toward 2,300 gross openings in 2025.
Headwinds
- Management remains cautious on near-term industry outlook given macro uncertainty and rising supply.
- Legacy-Huazhu same-hotel RevPAR declined 7.9% in Q2 amid softer corporate travel demand.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q2 2025
-0.4%
Avg return
Earnings day
-0.5%
Avg return
5 days after
+1.4%
Avg return
30 days after
45%
29 / 65 earnings
Positive
+15.1%
Q1 2015
Best reaction
-15.6%
Q3 2021
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +0.9% | +2.6% | -1.6% | |
| Q3 2025 | +2.7% | +0.3% | +8.6% | |
| Q2 2025 | +5.3% | +6.9% | +16.3% | |
| Q1 2025 | -1.7% | -2.3% | -10.2% | |
| Q4 2024 | -0.9% | -1.9% | -9.4% | |
| Q3 2024 | -8.9% | -8.5% | -3.3% | |
| Q2 2024 | -1.7% | +0.2% | +2.9% | |
| Q1 2024 | -5.5% | -12.2% | -18.8% | |
| Q4 2023 | -6.3% | -5.5% | -7.2% | |
| Q3 2023 | -0.2% | -4.7% | -7.1% | |
| Q2 2023 | -10.4% | -8.4% | -11.9% | |
| Q1 2023 | -2.5% | +6.6% | +3.1% | |
| Q4 2022 | +0.9% | +3.1% | -2.8% | |
| Q3 2022 | +8.2% | +19.6% | +26.2% | |
| Q2 2022 | -10.2% | -12.4% | -11.1% | |
| Q1 2022 | +5.7% | +4.3% | +21.5% | |
| Q4 2021 | -3.2% | -4.1% | -11.9% | |
| Q3 2021 | -15.6% | -16.7% | -20.7% | |
| Q2 2021 | +3.7% | +1.9% | +4.5% | |
| Q1 2021 | -0.2% | +1.6% | -5.3% | |
| Q4 2020 | -4.4% | -4.2% | +6.2% | |
| Q3 2020 | -1.7% | -9.1% | -12.1% | |
| Q2 2020 | -4.0% | +3.0% | +2.8% | |
| Q1 2020 | -7.4% | -3.4% | -2.8% | |
| Q4 2019 | -6.7% | -3.5% | -2.9% | |
| Q3 2019 | -2.0% | -0.4% | -7.0% | |
| Q2 2019 | -1.8% | -3.7% | +5.0% | |
| Q1 2019 | -8.6% | -11.5% | +0.9% | |
| Q4 2018 | +10.3% | +15.2% | +24.1% | |
| Q3 2018 | +6.4% | -1.2% | +7.1% | |
| Q2 2018 | +0.5% | +8.2% | -3.7% | |
| Q1 2018 | +12.3% | +15.2% | +27.0% | |
| Q4 2017 | -14.5% | -12.6% | -15.2% | |
| Q3 2017 | -10.9% | -6.8% | +22.0% | |
| Q2 2017 | +9.0% | +15.2% | +11.9% | |
| Q1 2017 | +8.1% | +4.8% | +8.8% | |
| Q4 2016 | +2.2% | +4.2% | +2.3% | |
| Q3 2016 | +0.6% | -0.6% | +9.7% | |
| Q2 2016 | +1.9% | +1.6% | +7.0% | |
| Q1 2016 | -2.5% | — | — | |
| Q4 2015 | +9.1% | — | — | |
| Q3 2015 | -1.7% | — | — | |
| Q2 2015 | +6.1% | — | — | |
| Q1 2015 | +15.1% | — | — | |
| Q4 2014 | -12.7% | — | — | |
| Q3 2014 | -3.6% | — | — | |
| Q2 2014 | +7.2% | — | — | |
| Q1 2014 | +3.8% | — | — | |
| Q4 2013 | -2.7% | — | — | |
| Q3 2013 | +6.6% | — | — | |
| Q2 2013 | -1.0% | — | — | |
| Q1 2013 | +1.3% | — | — | |
| Q4 2012 | -10.8% | — | — | |
| Q3 2012 | +3.7% | — | — | |
| Q2 2012 | +1.0% | — | — | |
| Q4 2010 | -0.9% | — | — | |
| Q4 2011 | -0.9% | — | — | |
| Q4 2009 | -0.9% | — | — | |
| Q1 2012 | +1.9% | — | — | |
| Q3 2011 | -3.3% | — | — | |
| Q2 2011 | -6.8% | — | — | |
| Q1 2011 | +3.3% | — | — | |
| Q3 2010 | +8.0% | — | — | |
| Q2 2010 | +8.0% | — | — | |
| Q1 2010 | -3.2% | — | — |
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