Hotelier H World Group announced last Friday it recorded a net profit of 1.31 billion yuan for the third quarter of this year.

The latest: Hotelier H World Group Ltd. (HTHT.US; 1179.HK) announced last Friday it recorded a net profit of 1.31 billion yuan ($183 million) in the third quarter, reversing a net loss of 710 million yuan in the same period last year.

Looking up: Revenue from the company’s legacy Huazhu segment increased 61.8% year-over-year, exceeding its previous guidance for 49% to 53% growth.

Take Note: The company expects revenue growth to slow to around 41% to 45% in the fourth quarter, down from the 53.6% growth in the third.

Digging Deeper: H World is a China-based hotel group that had 9,157 hotels with nearly 886,000 rooms at the end of September. The company’s low-cost Hanting chain is the backbone of its business, and it operates higher-end brands like Mercure, Ibis and Ibis Styles in China through a strategic partnership with France’s Accor (AC.PA). The company has recorded net losses for the past three years during the global pandemic, but has been profitable throughout this year as the global tourism industry recovers.

Market Reaction: H World’s Hong Kong shares were little changed in early Monday trade, closing up 0.2% at HK$28.60 by the midday break, near the lower end of their 52-week range.

Translation by A. Au

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