Analyst Consensus ?
ConsensusHold19 ratings
Bullish1157.9%
Neutral526.3%
Bearish315.8%
H World Group Limited · HTHT · FY2026 Q2 · Calendar Q3 2026
H World: Domestic growth and asset-light margins support Q2
The Q2 analysis supports a constructive but qualified view: domestic hotel expansion, asset-light franchising and membership initiatives are supporting growth, while international exposure and travel-demand risks remain constraints.
Reported Before market openNASDAQConsumer Cyclical
$13.34B market cap
100quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$0.78
Consensus $0.74
EPS surprise
+5.4%
Reported versus consensus
Reported revenue
$1.05B
Consensus $998.9M
Revenue surprise
+4.9%
Reported versus consensus
Market reaction
prior-close to event-session close
Stock move
+11.3%
Event window
SPY move
-0.5%
Same window
Abnormal move
+11.8%
Stock minus SPY
Volume
3.1×
Versus trailing sessions
Subsequent drift
-7.0%
Up to 20 sessions
HTHTSPY benchmark
Ask FN2 about HTHT FY2026 Q2
Transcript, numbers and history already loaded
Why did HTHT rise 11.3% after beating EPS estimates in FY2026 Q2?What changed in HTHT's guidance and outlook in FY2026 Q2?Give me the bull and bear case for HTHT after FY2026 Q2 earnings.
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Transcript intelligence
What changed
Compared with the prior-quarter analysis, the current analysis highlights 13,417 hotels in China, a 3,054-hotel pipeline, Hanting and JI’s global ranking leadership, and a new three-year USD 2.5 billion share-return programme. International RevPAR declined 3.8% year over year amid Middle East conflict, while the full-year outlook remained maintained.
Guidance delta
Management maintained its full-year outlook; the supplied analysis does not identify a numerical guidance change.
Key takeaways
- Revenue and profit growth were driven by domestic hotel expansion and the asset-light model.
- H World operates 13,417 hotels in China and has a pipeline of 3,054, with a 20,000-hotel goal across 2,000 Chinese cities.
- H Rewards, brand upgrades and cross-industry partnerships remain central growth initiatives.
- International RevPAR declined 3.8% year over year amid Middle East conflict, while management described the impact as limited because those hotels are managed or franchised.
Management priorities
- Expand the network toward 20,000 hotels across 2,000 Chinese cities.
- Continue Hanting 4.0 upgrades and improve portfolio quality.
- Enhance H Rewards and deepen partnerships with airlines, new-energy vehicle companies and financial institutions.
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Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$43.3Current
$32.4Low
$50.56Average
$62.4High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Sep 21, 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 $43.3. 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 | +44.1% | Mar 9, 2026 |
| HSBC | Lina Yan | $32.4 | $32.08 | -25.2% | Feb 4, 2025 |
| Citigroup | Lydia Ling | $54 | $38.06 | +24.7% | Sep 27, 2024 |
| Morgan Stanley | Dan Chee | $56 | $36.31 | +29.3% | May 24, 2024 |
| HSBC | Lina Yan | $53.6 | $39.72 | +23.8% | May 21, 2024 |
| Macquarie | Sunny Chow | $48 | $36.92 | +10.8% | Apr 19, 2024 |
| HSBC | Lina Yan | $51.5 | $37.8 | +18.9% | Mar 22, 2024 |
| HSBC | Lina Yan | $46.9 | $36.21 | +8.3% | 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.
Consumer Cyclical peers this season
Latest reports in the same sector| Company | Quarter | EPS surprise | Market move | Headline |
|---|---|---|---|---|
| LEN-B Lennar Corporation | FY2026 Q3 · Calendar Q3 2026 | — | — | Lennar: Efficiency Gains Offset Housing-Market Pressures |
| LEN Lennar Corporation | FY2026 Q3 · Calendar Q3 2026 | — | -4.1% | Lennar Holds Volume Guidance as Margins Improve Despite Housing Headwinds |
| TCOM Trip.com Group Limited | FY2026 Q2 · Calendar Q3 2026 | +22.3% | +3.0% | Trip.com pairs international growth with heavier AI investment |
| CASY Casey's General Stores, Inc. | FY2027 Q1 · Calendar Q3 2026 | +8.7% | -14.2% | Casey's Q1: Prepared Food Drives Growth as Fuel Margins Stay Volatile |
| LULU Lululemon Athletica Inc. | FY2026 Q2 · Calendar Q3 2026 | +63.1% | -17.4% | Lululemon lowers FY2026 outlook as North America weakens |
| FIVE Five Below, Inc. | FY2027 Q2 · Calendar Q3 2026 | +20.0% | -1.3% | Five Below raises outlook as its retail flywheel gains momentum |
Latest beats and misses
Who reports nextBeat on EPS
- FPSFY2026 Q4 · September 15, 2026+4.3% EPS+9.5% move
- TCOMFY2026 Q2 · September 15, 2026+22.3% EPS+3.0% move
- KRFY2026 Q2 · September 11, 2026+2.8% EPS+2.7% move
- ADBEFY2026 Q3 · September 10, 2026+0.8% EPS+1.4% move
- ORCLFY2027 Q1 · September 10, 2026+10.3% EPS-1.7% move
- CASYFY2027 Q1 · September 8, 2026+8.7% EPS-14.2% 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 · 2026-08-17T16:20:23.272020+00:00
- FN2 earnings calendar · 2026-09-21T01:23:13.071796+00:00
- Polygon adjusted daily market bars · 2026-09-21T14:10:48.098476+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-09-21T14:10:48.095762+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 . For educational purposes only; not investment advice.