H World Group Limited (NASDAQ: HTHT and HKEX: 1179) today announced preliminary results for hotel operations in the first quarter ended March 31, 2023.
Business update
For our Legacy-Huazhu business, our RevPAR in Q1 2023 recovered to 118% of the 2019 level. Breaking down into monthly numbers, our RevPAR in January, February and March 2023 recovered to 96%, 140% and 120% of the 2019 levels, respectively. The strong recovery was primarily due to the pent-up demand in Q1 2023, and largely driven by ADR growth.
