Companies /Consumer Cyclical
H World Group Ltd
NASDAQ: HTHT Lodging
$44.16
▲ $1.49 (+3.49%) today
Markets closed · 1:36am ET

H World Group (HTHT) Q1 2026 Earnings

Reported May 15, 2026, 6:30am ET · SEC source
$0.34
Miss −91.27%
EPS · est. $3.89
$869.0M
Miss −85.29%
Revenue · est. $5.9B
−5.5%
Trailing market
HTHT vs S&P since report
1 quarter
Consecutive EPS beats

How Did HTHT Stock React to Q1 2026 Earnings?

% change · around the report
−2%−1%0+1%May 15May 15report 6:30am ETearnings−0.4%+0.1%
−2%−1%0+1%May 15May 15earnings−0.4%+0.1%
HTHT +0.1%S&P 500 −0.4%
−2%−1%0+1%May 15May 15report 6:30am ETearnings−0.3%+0.1%
−2%−1%0+1%May 15May 15earnings−0.3%+0.1%
HTHT +0.1%NASDAQ −0.3%
−2%0+2%May 14May 22report 6:30am ETearnings+0.4%−2.6%
−2%0+2%May 14May 22earnings+0.4%−2.6%
HTHT −2.6%S&P 500 +0.4%
−2%0+2%May 14May 22report 6:30am ETearnings+0.8%−2.6%
−2%0+2%May 14May 22earnings+0.8%−2.6%
HTHT −2.6%NASDAQ +0.8%
+1.39%
Day of report
−1.17%
Next session
−2.74%
One week
−5.26%
30 days

S&P 500 over the same 30 days: +0.24%.

Did HTHT Beat Earnings? Q1 2026 Results

No. H World Group reported Q1 2026 earnings of $0.34 a share on May 15, 2026, missing the $3.89 consensus estimate by 91.3%. Revenue was $869.0M against a $5.9B estimate.

H World Group delivered a mixed but broadly encouraging set of first-quarter 2026 results, with revenue climbing 11.1% year-over-year to $869.00 million and earnings per share reaching $0.34, as the company's accelerating shift toward an asset-light model drove operating income 37.5% higher and expanded operating margin to 24.8% from 20.1% a year ago. The clearest engine behind that operational strength was a 20.3% surge in manachised and franchised revenue, a reflection of H World's deliberate push away from capital-intensive owned hotels; 93% of its now 13,215-property global portfolio operates under that higher-margin structure. GAAP net income attributable to H World dipped 8.6% year-over-year, weighed down by a $166.00 million foreign exchange loss that compared unfavorably to a $208.00 million gain in Q1 2025, though adjusted net income rose sharply to $1.07 billion. Looking ahead, management reiterated its full-year gross opening target of approximately 2,200 to 2,300 hotels, underpinned by a pipeline of 2,894 unopened properties and continued investment in AI and its H Rewards membership platform.

Key Takeaways
  • Continued hotel network expansion with 537 new openings in China during Q1 2026
  • M&F revenue increased 20.3% YoY driven by hotel network expansion and asset-light strategy
  • HWC blended ADR increased 4.5% YoY to RMB 285, driving 3.0% RevPAR growth
  • Operating margin improved to 24.8% from 20.1% YoY due to higher M&F revenue mix
  • HWI RevPAR increased 5.0% YoY with occupancy improving 2.1 percentage points

“In the first quarter of 2026, we maintained steady network expansion with 537 new hotel openings in China. We are well on track to meet our full-year gross opening target of approximately 2,200 to 2,300 hotels. Supported by continuous product upgrades and a series of revenue management optimization initiatives, our blended HWC ADR increased 4.5% year-over-year and drove a 3.0% year-over-year increase in blended RevPAR, representing a sequential quarter-over-quarter improvement. Looking ahead, we will continue to pursue high-quality hotel network expansion, strengthen our brand positioning, enhance member-centric sales capabilities underpinned by the H Rewards membership program, and further deepen our technology and AI development.”

H World Group CEO, on the earnings call

What Was H World Group's Outlook in Q1 2026?

H World is on track to meet its full-year gross opening target of approximately 2,200 to 2,300 hotels. The company plans to continue pursuing high-quality hotel network expansion, strengthen brand positioning, enhance member-centric sales capabilities through the H Rewards membership program, and further deepen technology and AI development.

HTHT YoY Financials

Revenue$870.0M
Operating Income$217.0M
Net Income$119.0M

HTHT Revenue by Segment

Legacy-Huazhu
Leased and owned hotels$399.0M−1.4%
Manachised and franchised hotels$436.0M+20.3%
Legacy-DH
Legacy-DH (Steigenberger Hotels GmbH)
Legacy-DH (Steigenberger Hotels)

HTHT Revenue by Geography

China$729.0M+12.4%

Figures from SEC filings and company reports. Not investment advice.