H World Group Limited (HTHT) Q3 2022 Earnings Call Transcript

H World Group Limited (NASDAQ:HTHT) Q3 2022 Earnings Conference Call November 28, 2022 8:00 PM ET

Company Participants

Jason Chen - Director, Investor Relations

Qi Ji - Chairman

Hui Jin - Chief Executive Officer

Jihong He - Chief Executive Officer, International Business

Ye Fei - Deputy Chief Financial Officer

Conference Call Participants

Dan Xu - Morgan Stanley

Ronald Leung - Bank of America

Simon Cheung - Goldman Sachs

Operator

Good day, and thank you for standing by. Welcome to the H World Third Quarter 2022 Earnings Conference Call. At this time, all participants are in a listen-only mode. After the speakers' presentation, there will be a question-and-answer session. [Operator Instructions] Please be advised that today's conference is being recorded.

And now I'd like to hand the conference over to Mr. Jason Chen, Investor Relations Director. Thank you. Please go ahead, sir.

Jason Chen

Thank you. Good morning and good evening everyone. Thanks for joining us today. Welcome to H World Group third quarter 2022 earnings conference call.

Joining us today is our Chairman, Mr. Qi Ji; our CEO, Mr. Hui Jin; our President, Ms. Xinxin Liu; our CFO, Ms. Chen Hui; our Deputy CFO, Ms. Fei Year-on-year; and our CEO of International Business Ms. He Jihong. Following their prepared remarks, management will be available to answer your questions.

Before we continue please note that the discussion today will include forward-looking statements made under the Safe Harbor provisions of the United States Private Securities Litigation Reform Act of 1995.

Forward-looking statements involve inherent risks and uncertainties. As such our results may be materially different from the views expressed today. A number of potential risks and uncertainties are outlined in our public filings with the SEC. H World Group does not undertake any obligations to update any forward-looking statements except as required and applicable laws.

On the call today, we will also mention adjusted financial measures during the discussion of our performance. Reconciliation of measures to comparable GAAP information can be found in our earnings release that was distributed yesterday.

As a reminder this conference call is being recorded. The webcast of this conference call as well as supplementary slide presentation is available at ir.hworld.com.

With that now, I will turn the call over to Mr. Qi Ji. Mr. Ji please.

Qi Ji

Good morning and good evening, everyone. Thank you for joining our call today. We are happy to report that our China business grew positively [ph] in the third quarter recovered to 90% of 2019 levels, thanks to ending up leisure travel demand as well as a rate cover of business travel. This recovery is closely associated with the relaxing our COVID policy in the third quarter.