H World Group (NASDAQ:HTHT) reported strong unaudited financial results for the fourth quarter and full year ended December 31, 2025, underscored by significant portfolio growth and aggressive capital return programs.
The hospitality giant generated RMB 25.3 billion in total revenue for the year, with fourth-quarter contributions reaching RMB 6.5 billion.
The company’s bottom-line performance remained resilient, posting a full-year net income of RMB 5.1 billion, following a solid RMB 1.2 billion in the final quarter.
Non-GAAP EBITDA for the 2025 fiscal year reached RMB 8.6 billion.
A key driver of this growth was the Manachised and Franchised (M&F) segment, which saw revenue surge by 23.1% year-over-year, reflecting the company’s successful shift toward an asset-light model.
As of year-end 2025, H World Group’s global footprint expanded to 12,858 hotels, encompassing over 1.26 million rooms.
Alongside this physical expansion, the company prioritized shareholder value, returning approximately US$760 million through a combination of cash dividends and share repurchases throughout the year.
Looking toward 2026, H World Group issued a growth outlook projecting revenue increases between 2% and 6%.
Excluding the DH (Deutsche Hospitality) segment, the company expects more robust growth of 5% to 9%.
The firm’s development pipeline remains ambitious, with plans to open between 2,200 and 2,300 new hotels in the coming year while closing 600 to 700 properties as part of a continuous effort to optimize portfolio quality and brand standards.