H World Group Limited · HKEX:1179
H World — Q2 2026 Earnings Presentation
24 slides from H World's earnings presentation, Aug 17, 2026
Slide 1: Second Quarter of 2026 Earnings Call
Second Quarter of 2026 Earnings Call H World Group Limited (NASDAQ: HTHT and HKEX: 1179) August 17, 2026 H W or ld
Slide 2: Disclaimer
2 Disclaimer ⯝餓㡮僈 This presentation has been prepared by H World Group Limited (the “H World”) solely for informational purposes and should not be construed to be, directly or indirectly, in whole or in part, an offer to buy or sell and/or an invitation and/or a recommendation and/or a solicitation
Slide 3: Agenda
AGENDA 01 02 03 04 26Q2 Business 26Q2 Financial Q and A Appendix Update Review H W or ld
Slide 4: Q2'26 Group Key Highlights
4 Q2’26 Group Key Highlights ✳㷍䏞꧋㔙⚌絫嚋錢 Hotel GMV: RMB30.5bn +13.2% YoY +25.2% YoY M&F Revenue: RMB3.6bn Rooms in Operation: M&F Gross Operating 1,335,445 +12.7% YoY +18.5% YoY Profit*: RMB2.2bn Room Nights Booked by Members: 66mn +8.4% YoY +20.0% YoY Total Adj. EBITDA: RMB2.7bn * M&F refers to manac
Slide 5: Solid Hotel Network and GMV Growth in Q2'26
5 Solid Hotel Network and GMV Growth in Q2’26 GMV Hotel Network Expansion Hotel GMV (Number of rooms in operation) (in RMB millions) +12.7% 30,467 +13.2% 1,335,445 26,910 HWI 1,184,915 HWI 2,046 25,354 HWI HWI 2,257 26,120 HWC HWC HWC HWC 28,421 1,310,091 24,653 1,158,795 Q2'25 Q2'26 Q2'25 Q2'26 * H
Slide 6: HWC RevPAR Increased 1.1% YoY
6 HWC RevPAR Increased 1.1% YoY RevPAR 1.1% ADR (RMB) OCC RevPAR (RMB) +2.6% 81.0% -1.2p.p. +1.1% 298 79.8% 238 290 235 Q2'25 Q2'26 Q2'25 Q2'26 Q2'25 Q2'26 * Numbers in this page refers to H World China business H W or ld
Slide 7: Enhancing City Network Coverage
7 Enhancing City Network Coverage 鵳♧姿㸤㊤㙹䋑䋒㽷 Number of Hotels in Operation Number of Hotels in Pipeline City Coverage in China (as of Jun 30) (as of Jun 30) (hotels in operation and in pipeline) Tier-1 Tier-2 Tier-3, 4 and below Tier-1 Tier-2 Tier-3, 4 and below 13,417 2,916 3,054 12,013 1,468 44% 53
Slide 8: Economy and Midscale as the Core Products Serving the Mass Market
8 Economy and Midscale as the Core Products Serving the Mass Market 务 Number of Hotels in Operation Number of Hotels in Pipeline Number of Hotel Openings (as of Jun 30) (as of Jun 30) Economy Midscale Upper midscale and above Economy Midscale Upper midscale and above Economy Midscale Upper midscale
Slide 9: JI and Hanting Place on the World's Top 50 Hotel Brands List
9 st nd JI and Hanting Claimed 1 and 2 Place on the "World's Top 50 Hotel Brands" List HOTELS 50 TOP 50 BRANDS Rank Brand Company Rooms 1 JI Hotel H World Hotel Group 404.616 2 Hanting Hotel H World Hotel Group 393.791 3 Hampton by Hilton Hilton 359.886 4 Holiday Inn Express IHG Hotels & Resorts 351
Slide 10: Consistent Product Upgrade - Hanting, JI, Orange
10 Consistent Product Upgrade - Hanting, JI, Orange - Proportion of Hanting 3.5, JI 4.0, Orange 2.0 and Above in Operation Hanting 3.5 and above JI 4.0 and above Orange 2.0 and above 85% 80% 82% 80% 76% 76% 71% 72% 66% 55% 52% 49% 43% 36% 29% Q2'24 Q4'24 Q2'25 Q4'25 Q2'26 * Numbers in this page refe
Slide 11: Developing the Upper-Midscale Segment
11 Developing the Upper-Midscale Segment 䲀⸓⚥넞咓ㅷ晥涸〄㾝 Number of Upper-Midscale Hotels Operation Pipeline +13.4% YoY 1,738 1,632 1,658 1,610 1,532 1,449 1,289 1,390 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 Q2'26 * Numbers in this page refers to H World China business H W or ld
Slide 12: Refine the H Rewards Program
12 Refine the H Rewards Program ⠏⻊⼶⡞⠔⠔プ雦ⴢ • Optimize Membership Operations • Strengthen Ecosystem Partnership • Advance International Expansion H W or ld
Slide 13: Engaging in Social Responsibilities
13 Engaging in Social Responsibilities 騨遤爢⠔餓⟣ • Creating Job Opportunities • Pursuing Energy-Saving Management • Undertaking Social-Welfare Initiatives H W or ld
Slide 14: HWI RevPAR Decreased 3.8% YoY
14 HWI RevPAR Decreased 3.8% YoY RevPAR 3.8% ADR OCC RevPAR (In Constant US$) (In Constant US$) +0.9% -3.5p.p. -3.8% Of which Europe +1.1% Of which Europe +0.3% Of which Europe +0.6p.p. 139 138 102 102 103 137 138 74.0%73.9% 74.5% 98 70.5% Q2'25 Q2'26 Q2'25 Q2'26 Q2'25 Q2'26 HWI Europe HWI Europe HW
Slide 15: Agenda
AGENDA 01 02 03 04 26Q2 Business 26Q2 Financial Q and A Appendix Update Review H W or ld
Slide 16: Q2'26 Financial Highlights
16 Q2’26 Financial Highlights ✳㷍䏞餒⸉侨䰘 Revenue Adjusted EBITDA Adjusted Net Income (in RMB millions) (in RMB millions) (in RMB millions) +10.8% YoY +20.0% YoY +26.9% YoY 7,121 2,725 1,712 6,426 HWI 5,996 1,253 2,270 HWI HWI 131 1,349 1,330 HWI HWI 1,858 972 164 1,074 HWC HWC HWC 1,914 2,594 HWC HWC 5
Slide 17: Asset-Light Business Achieved Strong Growth in Q2'26
17 Asset-Light Business Achieved Strong Growth in Q2’26 ⸈湅⚌⸉㹊梡䔂⸢㟞 M&F Revenue M&F Gross Operating Profit (in RMB millions) (in RMB millions) +25.2% YoY +18.5% YoY 3,586 2,247 HWI HWI 3,006 47 1,896 1,912 46 2,865 HWI HWI HWI 31 HWI 30 41 40 HWC HWC HWC HWC 2,829 2,982 3,547 HWC HWC 2,201 1,856 1,88
Slide 18: 1H26 Shareholder Return
18 1H26 Shareholder Return 2026 Cash Dividend Share Repurchase USD275 mn ~USD273 mn H W or ld
Slide 19: Shareholder Return Plan
19 Shareholder Return Plan 肅⚎㔐䫣雦ⴢ Early Completion of Introducing 2024 Three-Year Shareholder Return 2026 Three-Year Shareholder Return (in USD millions) 767 760 110 267 Aggregate amount of 548 273 USD2.5 bn 650 500 275 2024 2025 1H26 Cash Dividend Share Repurchase H W or ld
Slide 20: Revenue Guidance
20 Revenue Guidance ⚌絫䭷䒸 Total Revenue vs. 2025 Full Year • Grow 4%-8% , of which HWC Grow 7%-11% 2026 M&F Revenue vs. 2025 • Grow 16%-20% * M&F stands for manachised & franchised H W or ld
Slide 21: Agenda
AGENDA 01 02 03 04 26Q2 Business 26Q2 Financial Q and A Appendix Update Review H W or ld
Slide 22: Agenda
AGENDA 01 02 03 04 26Q2 Business 26Q2 Financial Q and A Appendix Update Review H W or ld
Slide 23: Same-Hotel Operational Data by Class
23 Same-Hotel Operational Data by Class ず䏅絑蠒侨䰘 Number of hotels in Same-hotel RevPAR Same-hotel ADR Same-hotel Occupancy operation As of For the quarter ended For the quarter ended For the quarter ended June 30, June 30, June 30, June 30, yoy change yoy change yoy change (p.p.) 2025 2026 2025 2026 2
Slide 24: Number of Hotels and Rooms
24 Number of Hotels and Rooms ꂊ䏅侨ꆀㄤ䨻ꢂ侨ꆀ As of June 30, 2026 Total Hotels Rooms Unopened hotels in operation in pipeline Economy hotels 6,245 513,260 1,343 HanTing Hotel 4,710 408,636 975 Ni Hao Hotel 537 41,374 69 Hi Inn 759 42,349 290 Elan Hotel 35 1,693 - Ibis Hotel 198 18,172 2 Zleep Hotels 6 1,0