HTHT - H World: No Surprises

2024-03-22 04:02:56 ET

Summary

• H World's FY 2023 top line and EBITDA met the market's expectations, as both its actual revenue and EBITDA exceeded the consensus estimates by a modestly low single-digit percentage.
• HTHT is guiding for its FY 2024 RevPAR to be the same or at best a low single-digit percentage higher than its actual FY 2023 RevPAR.
• My Hold rating for H World stays unchanged, as there weren't any surprises relating to HTHT's FY 2023 results and FY 2024 guidance.

Elevator Pitch

H World Group Limited ( HTHT ) [1179:HK] is awarded a Hold investment rating.

In my previous January 4, 2024 update , I wrote about H World's new dividend policy and the company's growth outlook. The current write-up evaluates HTHT's recently disclosed FY 2023 financial performance and its FY 2024 RevPAR (Revenue Per Available Room) guidance....

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