H World Group Limited (NASDAQ:HTHT) Q1 2024 Results Conference Call May 19, 2024 9:00 PM ET
Company Participants
Jason Chen - Investor Relations Director
Ji Qi - Chairman
Jin Hui - Chief Executive Officer
Zou Jun - Executive VP & CFO
Conference Call Participants
Roland Leung - Bank of America
Dan Xu - Morgan Stanley
Simon Cheung - Goldman Sachs
Lydia Ling - Citi
Sijie Lin - CICC
Operator
Good day, and thank you for standing by. Welcome to H World Q1 2024 Earnings Conference Call. [Operator Instructions]
I would now like to hand the conference over to your first speaker today, Jason Chen, Senior Investor Director. Please go ahead.
Jason Chen
Thank you, Maggie. Good morning and good evening, everyone. Thanks for joining us today. Welcome to H World Group 2024 First Quarter Earnings Conference Call. Joining us today is our Chairman, Mr. Ji Qi; our CEO, Mr. Jin Hui; and our CFO, Mr. Zou Jun. 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 provision 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 under applicable laws.
On the call today, we will also mention adjusted financial measures during the discussion of our performance. Reconciliations of those measures to comparable GAAP information can be found in our earnings release that was distributed last Friday. 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 hand over the call to our CEO, Mr. Jin Hui, to discuss our business performance in the first quarter of 2024.
Mr. Jin, please.
Jin Hui
We had a relatively good start for 2024. Let's firstly review our Legacy-Huazhu's operational performance during the quarter. Please turn to Page 3. In the first quarter of 2024, Legacy-Huazhu's blended RevPAR reached RMB 216, representing a growth of 3.1% on a year-over-year basis. ADR grew by 1% to RMB 280 and occupancy rate grew by 1.6 percentage points to 77.2%. The business performance was quite stable during the quarter and was within our expectation at the beginning of the year.