Analyst Consensus ?
ConsensusHold19 ratings
Bullish1157.9%
Neutral526.3%
Bearish315.8%
H World Group Limited · HTHT · FY2024 Q4 · Calendar Q1 2025
H World: Asset-light growth offsets modest RevPAR pressure
The supplied analysis supports a constructive but qualified view: network expansion, asset-light execution, corporate bookings, and membership scale provide growth support, while RevPAR pressure, lower-tier-city supply, and DH recovery remain important tests.
Reported Before market openNASDAQConsumer Cyclical
$14.20B market cap
80quality score
Earnings scorecard
Reported versus consensus
Reported EPS
—
Consensus $0.27
EPS surprise
—
Reported versus consensus
Reported revenue
—
Consensus $5.70B
Revenue surprise
—
Reported versus consensus
Market reaction
prior-close to event-session close
Stock move
-0.9%
Event window
SPY move
-0.3%
Same window
Abnormal move
-0.6%
Stock minus SPY
Volume
2.3×
Versus trailing sessions
Subsequent drift
-8.6%
Up to 20 sessions
HTHTSPY benchmark
Ask FN2 about HTHT FY2024 Q4
Transcript, numbers and history already loaded
What drove HTHT's -0.9% move after FY2024 Q4 earnings?What changed in HTHT's guidance and outlook in FY2024 Q4?Give me the bull and bear case for HTHT after FY2024 Q4 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
The current analysis shifts the emphasis toward execution of the asset-light model: 2024 included record openings, asset-light revenue exceeded half of total revenue, and management planned further openings and lease-to-franchise conversions. RevPAR remained a counterweight despite higher occupancy and stronger corporate bookings.
Guidance delta
Management maintained its outlook; the current analysis cites 2025 revenue growth of 2–6% and franchised-revenue growth of 17–21%, with approximately 2,300 openings planned.
Key takeaways
- H World reported 2,430 hotel openings in 2024 and reached 10,000 hotels in 1,000 cities.
- The asset-light transition contributed more than 50% of 2024 revenue, while franchised revenue reached up to 40% group-wide in the analysis.
- RevPAR declined 3%, but occupancy rose to 81.2% and corporate bookings grew 39% year over year.
- Management raised the minimum dividend payout to 60% of net profit and outlined continued network expansion.
Management priorities
- Expand the network while converting leases to franchise contracts
- Develop and refresh economy, midscale, and upper-midscale brands
- Increase H Reward engagement and retention
- Maintain low-cost, high-efficiency service delivery
Follow HTHT with an agent that reads every filing, transcript, and price print. Free to start.
Try FN2 freeEarnings History
Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$46.23Current
$32.4Low
$50.56Average
$62.4High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Oct 26, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| Benchmark | Buy | Buy | Maintain | Mar 19, 2026 |
| Macquarie | Outperform | Outperform | Maintain | Mar 18, 2026 |
| UBS | Buy | Neutral | Upgrade | Mar 9, 2026 |
| JP Morgan | Overweight | Overweight | Maintain | May 21, 2025 |
| B of A Securities | Buy | Buy | Maintain | Mar 13, 2024 |
| HSBC | Buy | Buy | Maintain | Aug 31, 2022 |
| Credit Suisse | Neutral | Outperform | Downgrade | Dec 8, 2020 |
| Citigroup | Neutral | Buy | Downgrade | Mar 30, 2020 |
| CLSA | Sell | Buy | Downgrade | Feb 5, 2020 |
| Morgan Stanley | Equal Weight | Underweight | Upgrade | Dec 6, 2019 |
| Daiwa Capital | Sell | Underperform | Maintain | Oct 16, 2019 |
| Goldman Sachs | Neutral | Buy | Downgrade | Sep 13, 2019 |
| Bank of America | Buy | Buy | Maintain | Aug 22, 2019 |
| China Renaissance | Hold | Buy | Downgrade | May 6, 2019 |
| Deutsche Bank | Sell | Hold | Downgrade | Jan 22, 2019 |
| Brean Capital | Buy | Buy | Maintain | Aug 17, 2016 |
| TH Capital | Buy | Hold | Upgrade | Nov 9, 2015 |
| Oppenheimer | Outperform | Outperform | Maintain | Mar 8, 2013 |
| China International Capital | Buy | Accumulate | Maintain | Mar 6, 2013 |
Named analyst price targets
Upside is calculated against the persisted current price $46.23. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| UBS | Analyst unavailable | $62.4 | $52.12 | +35.0% | Mar 9, 2026 |
| HSBC | Lina Yan | $32.4 | $32.08 | -29.9% | Feb 4, 2025 |
| Citigroup | Lydia Ling | $54 | $38.06 | +16.8% | Sep 27, 2024 |
| Morgan Stanley | Dan Chee | $56 | $36.31 | +21.1% | May 24, 2024 |
| HSBC | Lina Yan | $53.6 | $39.72 | +15.9% | May 21, 2024 |
| Macquarie | Sunny Chow | $48 | $36.92 | +3.8% | Apr 19, 2024 |
| HSBC | Lina Yan | $51.5 | $37.8 | +11.4% | Mar 22, 2024 |
| HSBC | Lina Yan | $46.9 | $36.21 | +1.4% | Aug 31, 2022 |
Track every rating change on HTHT the moment it posts. Free to start.
Start freeCompany context
Snapshot as of publicationH World Group Limited, through its various subsidiaries, is actively engaged in the development and management of hotels primarily within the People's Republic of China. Its extensive operations cover a range of models, including leased, owned, manachised, and franchised properties. The company boasts a diverse collection of self-owned hotel brands, among them HanTing Hotel, Ni Hao Hotel, Hi Inn, Elan Hotel, Zleep Hotels, Ibis Hotel, JI Hotel, Orange Hotel, Starway Hotel, Ibis Styles Hotel, CitiGO Hotel, Crystal Orange Hotel, IntercityHotel, Manxin Hotel, Mercure Hotel, Madison Hotel, Novotel Hotel, Joya Hotel, Blossom House, Steigenberger Hotels & Resorts, MAXX by Steigenberger, Jaz in the City, Grand Mercure, Steigenberger Icon, and Song Hotels. As of June 30, 2022, the group oversaw 8,176 hotels, providing a combined total of 773,898 rooms. Originally known as Huazhu Group Limited, the company officially rebranded to H World Group Limited in June 2022. Founded in 2005, its corporate headquarters are situated in Shanghai, People's Republic of China.
Historical context
All HTHT earningsConsumer Cyclical peers this season
Latest reports in the same sector| Company | Quarter | EPS surprise | Market move | Headline |
|---|---|---|---|---|
| DECK Deckers Outdoor Corporation | FY2027 Q2 · Calendar Q4 2026 | +13.4% | -0.2% | Deckers raises FY2027 outlook as HOKA and UGG drive growth |
| TSCO Tractor Supply Company | FY2026 Q3 · Calendar Q4 2026 | +5.3% | +6.2% | Tractor Supply Q3: Pet and Digital Momentum Supports Margin Plan |
| PHM PulteGroup, Inc. | FY2026 Q3 · Calendar Q4 2026 | -4.5% | +5.8% | PulteGroup Holds Guidance as Buyer Traffic Slows |
| PKG Packaging Corporation of America | FY2026 Q3 · Calendar Q4 2026 | +3.8% | +4.2% | PCA beats Q3 expectations as Greif synergies offset cost pressure |
Latest beats and misses
Who reports nextBeat on EPS
- FCNCAFY2026 Q3 · October 23, 2026+19.9% EPS+8.2% move
- FCNCNFY2026 Q3 · October 23, 2026+19.9% EPS+0.2% move
- FCNCOFY2026 Q3 · October 23, 2026+19.9% EPS+1.0% move
- FCNCPFY2026 Q3 · October 23, 2026+19.9% EPS+1.0% move
- RDYFY2027 Q2 · October 23, 2026+24.0% EPS-0.2% move
- SLBFY2026 Q3 · October 23, 2026+3.7% EPS+7.1% move
Missed on EPS
- INFYFY2027 Q2 · October 23, 2026-4.8% EPS-6.6% move
- BBDFY2026 Q3 · October 22, 2026-7.7% EPS+3.0% move
- SNAFY2026 Q3 · October 22, 2026-5.9% EPS-3.4% move
- SPOTFY2026 Q3 · October 22, 2026-11.6% EPS+11.1% move
- VRSNFY2026 Q3 · October 22, 2026-2.0% EPS-0.9% move
- HBANMFY2026 Q3 · October 22, 2026-5.3% EPS+0.5% move
Get the HTHT recap when the next report posts
One email per quarter with the scorecard, the market reaction and what changed on the call. No account needed.
Sources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2025-03-12T01:37:52.188115+00:00
- Polygon adjusted daily market bars · 2026-10-26T01:10:44.852734+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-10-26T01:10:44.849998+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-10-26. For educational purposes only; not investment advice.