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The following are the minutes of Huazhu's 3Q25FY earnings conference call organized by Dolphin Research. For a review of the financial report, please refer to 'Huazhu: Deep Squat and Jump! Huazhu is still the industry leader.'

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Huazhu (Minutes): Experiential consumption shows significant growth

Financial Analysis

On 17 November 2025 Beijing time, prior to the US market open, Huazhu (1179.HK/HTHT.O) $HWORLD-S(01179.HK) $H World(HTHT.US) released its Q3 2025 financial report. Driven by robust leisure travel demand and the advancement of its asset-light transformation strategy, the company's overall performance continued to improve, exceeding market expectations. Key highlights include: 1. RevPAR showed sequential recovery. Examining the core operational metric of revenue per available room (RevPAR)...

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Huazhu: Deep Squat and Jump! Huazhu Remains the Industry Leader

The following are the minutes of Huazhu's Q2 2025 earnings call. For an interpretation of the financial report, please refer to &#34;Huazhu: Strengthening Internal Skills, Is Huazhu Ready to 'Squat and Jump'? -&#34;

Huazhu Club FY25Q2 Minutes: Hanting 4.0 Signing Strong

On August 20, 2025, before the U.S. stock market opened, Huazhu (1179.HK/HTHT.O) released its Q2 2025 financial report. Overall, the most striking aspect is the company's asset-light transformation strategy, which has significantly improved the company's core operating profit. Specifically:

Huazhu: With solid internal strength, is Huazhu ready to 'squat and jump'?

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Below is the earnings call minutes for Huazhu Group FY25 Q1. For the earnings interpretation, please refer to

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Huazhu Group (1Q25 Minutes): Q2 RevPAR will narrow quarter-on-quarter

On May 20, 2025, before the U.S. market opened, Huazhu (1179.HK/HTHT.O) released its Q1 2025 financial report. Overall, against the backdrop of a continued downturn in the hotel and tourism industry, Huazhu's core operational metrics continued to deteriorate. However, the highlight was the company's effective cost control through organizational streamlining and an increased proportion of the asset-light franchising model.

Both volume and price are falling! Can Huazhu still squat and jump?

Today’s Key News Recap

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Dolphin focuses on: 🐬 Macro/Industry 1. Today, both Hong Kong and A-shares were collectively booming, with the Shanghai Composite Index recovering above 3300 points and the Hang Seng Index rising over 2.3%. The market is buzzing with &#34;short essays,&#34; mainly focusing on: 1) Two major meetings in December, with rumors suggesting one may be held earlier, as the market speculates on expectations for economic stimulus; 2) It is rumored that the December economic meeting will expand the deficit ratio to 4.5. However, currently, there is no clear evidence supporting these messages, and the direction of sentiment remains difficult to determine...

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Hong Kong, A accelerates explosion! What happened? | Today's important news review

The following is the summary of the conference call for the Q3 2024 performance of $HWORLD-S(01179.HK) $H World(HTHT.US). For the financial report interpretation, please refer to &#34;Huazhu's Against the Trend 'Lone Brave', does crouching really allow for a jump?&#34; 1. Review of core financial report information: 2. Detailed content of the financial report conference call 2.1. Executive team statement of core information: Industry performance and strategic adjustments - Domestic tourism demand is steadily increasing, but due to last year's high base effect, RevPAR in the third quarter decreased by 8.1% year-on-year to RMB 256, and ADR decreased by 7% year-on-year to RMB 301...

Huazhu: Is there an improvement in the business climate in the fourth quarter?

On December 26, 2024, before the US stock market opened, $HWORLD-S(01179.HK) $H World(HTHT.US) released its Q3 2024 financial report. Overall, the biggest issue is that profits are no longer growing amid a downturn in industry prosperity and a mismatch with the company's increased investments. Specifically: 1. The underlying operating data indicates a significant decline in the domestic hotel and travel industry's prosperity. In the third quarter, Huazhu's average room revenue for domestic hotels was 256 yuan/night, a year-on-year decrease of 8.2%, which is a significant increase from the previous quarter's decline of -2.4%...

Huazhu expands against the trend, can crouching really lead to a jump?

$H World(HTHT.US)3Q24 Quick Interpretation: At first glance, the performance &amp; operational trends shown in Huazhu's financial report are quite poor. Overall, both revenue and profit fell short of expectations.1) On the revenue side, Huazhu's total revenue this quarter only increased by 2.4% year-on-year, at the bottom of the previous guidance range of 2%~5%, showing a clear slowdown in trend. Although this was dragged down by the closure of Huazhu's self-operated hotels (a net closure of 22 stores), the relatively narrow revenue scope of the accelerated expansion of franchised stores amplified the impact of the self-operated business. In any case, it was a clear underperformance compared to the expected growth of 4.6%.2) On the profit side, with the increasing proportion of franchise business revenue, gross margin should have shown an upward trend. The market expected this quarter's gross margin to increase by about 2pct year-on-year, but it actually fell by 1.6pct. This resulted in gross profit being about 10% lower than expected. Cost control was also not outstanding compared to expectations, leading to profits falling short of expectations and showing negative year-on-year growth.This quarter's performance was disappointing on both fronts. The company's revenue guidance for the next quarter is 1%~5%, also below the current consensus sell-side expectation of about 6% growth. If the poor performance in 3Q was due to the high base from last year's summer vacation and the unfavorable macro environment this year, for 4Q, the market mainly believes that demand during the National Day holiday has recovered somewhat, so growth was expected to improve. However, the company's guidance indicates further decline in growth, which is obviously another piece of bad news.

Analysts Maintain Buy Rating for Hua Zhu Group, Target Price at HKD 44.00

CITIC Securities Maintains Huazhu Group 'Outperform' Rating

Huazhu Group's stock rating upgraded to buy

Huazhu Group Affiliate Launches Luxurious Hotel and Serviced Apartment Project in Hainan

JPMorgan Upgrades Ratings and Targets for Huazhu Group and Atour, Downgrades for Jin Jiang and Shanghai Tourism

Consumer Complaints About Feces Found on Shower Head at Jin 季 Hotel in Wuxi

Guosen Securities Maintains Overweight Rating on Huazhu Group

Huazhu Group Reports Strong Free Cash Flow, Market Reacts Cautiously

WFM ASIA BVI Ltd Increased Holdings in Huazhu Group in Q2

Huazhu Group Reports Q3 Earnings: Occupancy Rate Down But Revenue and Net Profit Up

UBS Maintains Hold Rating on Huazhu Group with a Target Price of HKD 28.78

Jefferies Maintains Buy Rating on Huazhu with Price Target at HKD 45

Nomura Raises Huazhu Group's 2025-2027 EBITDA Forecast and Target Price

Huazhu Merlin Hotel Opens in Jimei Software Park III, Xiamen

H World released FY2025 9 Months earnings on November 17 Pre-Market (EST), actual revenue USD 2.616 B, actual EPS USD 1.7142

H World released FY2025 Q3 earnings on November 17 Pre-Market EST, actual revenue USD -682.64 M (forecast USD 948.06 M), actual EPS USD -0.44 (forecast USD 0.6112)