H World Group Ltd (NASDAQ:HTHT), one of the world’s leading hospitality groups, stock fell 2.10% (As on November 18, 11:18:25 AM UTC-4, Source: Google Finance) after the company in the third quarter of FY25 has reported Hotel GMV of RMB 30.6 billion, up 17.5% year-on-year, while total revenue grew 8.1% year-on-year to RMB 7.0 billion. Revenue from manachised and franchised hotels rose 27.2% to RMB 3.3 billion, underscoring the strength of the Company’s asset-light model and sustained franchise demand. Revenue from the Legacy-Huazhu segment in the third quarter of 2025 was RMB5.7 billion, which increased 10.8% year-over-year, surpassing the high end of the revenue guidance previously announced of a 4% to 8% increase. Revenue from the Legacy-DH segment in the third quarter of 2025 was RMB1.2 billion, which decreased 3.0% year-over-year, compared to the third quarter of 2024.

Moreover, Adjusted EBITDA increased to RMB 2.5 billion, compared with RMB 2.1 billion in the same period last year. The improvement reflects stronger operating efficiency, healthier margins, and the Group’s continued ability to convert top-line growth into solid operating performance. H Rewards, the Group’s loyalty program, surpassed 300 million members, making it one of the largest hotel loyalty ecosystems in the world. Members booked 66 million room nights in the third quarter, up 19.7% year-on-year, underscoring rising engagement and growing trust in the Group’s brands and digital platforms. As of September 30, 2025, H World operated 12,702 hotels with 1,246,240 rooms globally. The Group opened 749 hotels in Q3 and expanded its presence across 89 additional Chinese cities year-on-year. H World remains optimistic about long-term growth prospects in China and abroad, supported by strong franchise demand, a deeply scalable digital infrastructure, and a resilient membership ecosystem.

With more than 2,000 hotels opened year-to-date, the company remain firmly on track to reach the target of 2,300 gross openings in 2025. H World continues to advance its multi-brand strategy, with leading performance across the economy, midscale, and upper-midscale segments. Flagship brands such as Hanting, JI Hotel, Orange Hotel, Crystal Orange, and IntercityHotel remain key drivers of domestic and international network growth. For the fourth quarter of 2025, H World expects the revenue growth to be in the range of 2%-6%, compared to the fourth quarter of 2024, and also in the range of 3%-7% excluding DH. H World expects the Company’s M&F revenue growth in the fourth quarter of 2025 to be in the range of 17%-21%, compared to the fourth quarter of 2024.