The hotel industry is leading the recovery, and the leading Group deserves atten… – Press Release

HONG KONG, Apr 11, 2023 – (ACN Newswire) – China’s 2023 government work report states that the country will focus on expanding domestic demand and prioritize restoring and expanding consumption. The Ministry of Commerce has declared 2023 as the “Year of Consumption Boost,” proposing ways to improve consumption conditions, create innovative consumption scenarios, cultivate a consumption atmosphere, and boost consumer confidence. With tourism being a critical aspect of post-pandemic consumption, the hotel industry will play a significant role in restoring and expanding consumption.

After the lifting of pandemic lockdowns, the market rebounded exceptionally quickly. According to Horwath HTL’s “China Hotel Market Sentiment Survey Report for First Quarter of 2023,” released in February of the same year, the overall market sentiment index has returned to positive territory for the first time in three years. In addition, the domestic hotel market has demonstrated a clear trend toward recovery, with many operators maintaining optimistic attitudes about the market.

Maintaining resilience in the face of pandemic challenges and achieving an 8.4% increase in 2022 revenue

H World Group Limited managed to overcome pandemic-related difficulties in 2022, maintaining its resilience and achieving excellent financial results. H World Group Limited HTHT(HKEX:1179) (“H World” or the “Group”) recently released its financial results for the fourth quarter of 2022 (“Q4-22”) and the entire year of 2022 (“FY22”). Revenue increased by 10.7% year-over-year to RMB3.7 billion in Q4-22, in line with the previously announced revenue guidance of a 7% to 11% increase compared to Q4-21 and increased 8.4% year-over-year to RMB13.9 billion for FY22. Hotel turnover surged by 10.5% year-over-year to RMB13.1 billion in Q4-22 and increased 9.3% year-over-year to RMB49.6 billion for FY22.

He Jihong, the Group’s Chief Financial Officer, stated, “Despite the challenges posed by the Covid-19 pandemic in…