Analyst Consensus ?
ConsensusHold19 ratings
Bullish1157.9%
Neutral526.3%
Bearish315.8%
H World Group Limited · HTHT · FY2025 Q4 · Calendar Q1 2026
H World: Asset-Light Expansion Meets Demand and Execution Tests
H World’s earnings support a constructive operating trajectory: revenue growth, network expansion, a larger asset-light contribution and the Legacy-DH turnaround provide evidence of improving scale and execution. The counterweight is that future progress remains dependent on RevPAR and demand-supply conditions, the quality of new openings and successful Deutsche Hospitality integration.
Reported Before market openNASDAQConsumer Cyclical
$12.91B market cap
100quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$0.58
Consensus $0.41
EPS surprise
+41.5%
Reported versus consensus
Reported revenue
$932.8M
Consensus $914.9M
Revenue surprise
+2.0%
Reported versus consensus
Market reaction
prior-close to event-session close
Stock move
-3.8%
Event window
SPY move
-1.4%
Same window
Abnormal move
-2.4%
Stock minus SPY
Volume
1.3×
Versus trailing sessions
Subsequent drift
+9.3%
Up to 20 sessions
HTHTSPY benchmark
Ask FN2 about HTHT FY2025 Q4
Transcript, numbers and history already loaded
Why did HTHT fall 3.8% after beating EPS estimates in FY2025 Q4?What changed in HTHT's guidance and outlook in FY2025 Q4?Give me the bull and bear case for HTHT after FY2025 Q4 earnings.
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Transcript intelligence
What changed
The current analysis shows 2025 revenue growth of 5.9% to RMB 25.3 billion, positive year-over-year RevPAR growth for the first time since Q2 2024, a 16.2% year-over-year network expansion, and Legacy-DH adjusted EBITDA of RMB 500 million. Compared with the prior-quarter analysis, the company is now emphasizing the Legacy-DH turnaround, broader geographic integration and 2026 expansion plans while maintaining its guidance stance.
Guidance delta
Maintained: management reiterated guidance for modest 2026 revenue growth and further hotel openings.
Key takeaways
- Revenue grew 5.9% year over year to RMB 25.3 billion, reaching the high end of guidance.
- The hotel network expanded 16.2% year over year, with 2,200–2,300 new hotels planned for 2026.
- Franchise and managed operations contributed 69% of total revenue, reinforcing the asset-light strategy.
- Legacy-DH returned to profitability with RMB 500 million of EBITDA.
- The investment case still depends on RevPAR improvement, disciplined expansion, and effective Deutsche Hospitality integration.
Management priorities
- Expand toward 2,000 cities and 20,000 hotels by 2030.
- Continue HanTing and next-generation Intercity rollout.
- Integrate Deutsche Hospitality assets and pursue synergies.
- Invest in hotel technology and digital services.
- Grow the H-Reward membership program and maintain shareholder returns.
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Beat
Miss
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Analyst 52W Price Targets
$41.8Current
$32.4Low
$50.56Average
$62.4High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Oct 2, 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 $41.8. 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 | +49.3% | Mar 9, 2026 |
| HSBC | Lina Yan | $32.4 | $32.08 | -22.5% | Feb 4, 2025 |
| Citigroup | Lydia Ling | $54 | $38.06 | +29.2% | Sep 27, 2024 |
| Morgan Stanley | Dan Chee | $56 | $36.31 | +34.0% | May 24, 2024 |
| HSBC | Lina Yan | $53.6 | $39.72 | +28.2% | May 21, 2024 |
| Macquarie | Sunny Chow | $48 | $36.92 | +14.8% | Apr 19, 2024 |
| HSBC | Lina Yan | $51.5 | $37.8 | +23.2% | Mar 22, 2024 |
| HSBC | Lina Yan | $46.9 | $36.21 | +12.2% | Aug 31, 2022 |
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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
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Latest beats and misses
Who reports nextBeat on EPS
- ACNFY2026 Q4 · October 1, 2026+3.5% EPS+15.8% move
- MKCFY2026 Q3 · October 1, 2026+13.9% EPS-4.9% move
- NKEFY2027 Q1 · October 1, 2026+10.0% EPS-0.7% move
- CAGFY2027 Q1 · September 30, 2026+44.4% EPS-4.9% move
- FDSFY2026 Q4 · September 30, 2026+3.9% EPS+3.8% move
- JBLFY2026 Q4 · September 30, 2026+8.1% EPS-10.0% 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 · 2026-07-26T00:36:15.940040+00:00
- Polygon adjusted daily market bars · 2026-10-02T18:06:10.739299+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-10-02T18:06:10.736268+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 2026-10-02. For educational purposes only; not investment advice.