H World Group (HTHT) Q2 FY26 earnings call

Earnings call· Jun 2026 (Q2 FY26)· Consumer Discretionary· Aug 17, 2026

Source: earnings call transcript

H World Group delivered a robust Q2 FY26, driven by strong asset-light growth in China and expanding margins, despite headwinds in its international segment and volatile domestic travel demand. The company continues its high-quality network expansion, particularly in lower-tier cities and upper mid-scale segments, while committing to significant shareholder returns and strategic investments for long-term growth.

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HTHT operating KPIs by quarter

HTHT operating KPIs stated on its earnings calls, by fiscal quarter
KPI	Mar 2026 Q1 FY26	This call Jun 2026 Q2 FY26	Change vs prior quarter
Properties HWC	13.095K By the end of first quarter, HWC hotel operation totaled 13,095 and we have another 2,865 hotels in the pipeline. Source: earnings call transcript	13.417K As of end June, we had 13,417 hotels in operation in China. Source: earnings call transcript	+2.5%
Properties HWC pipeline	2,865 By the end of first quarter, HWC hotel operation totaled 13,095 and we have another 2,865 hotels in the pipeline. Source: earnings call transcript	3,054 As of end June, hotels in pipeline increased both year-over-year and quarter-over-quarter, reached 3,054. Source: earnings call transcript	+6.6%
Properties Upper-midscale in operation and in pipeline	1,658 At the end of first quarter, the number of our upper-midscale hotels in operation and in pipeline reached 1,658, up 14.4% year-over-year. Source: earnings call transcript	1,738 As of end June, H World China's upper mid-scale brands and 1,738 hotels in operation and in pipeline, up 13.4% year-over-year. Source: earnings call transcript	+4.8%
Stores HWC gross openings	537 So on the hotel HWC, we grossly opened 537 hotels, which is at a relatively high low compared to historical performance. Source: earnings call transcript	498 So on the overall new hotel network expansion, in the second quarter, we opened 498 hotels. Source: earnings call transcript	-7.3%

Operating figures the company stated on at least two of the calls shown, checked against each call's transcript. Click a figure to read the sentence. A dash means it was not stated that quarter.

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