H World Group Limited announced preliminary results for hotel operations in the Q1. The company said, "For our Legacy-Huazhu business, our RevPAR in Q1 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. During the quarter, a large part of our hotel closures were carried over from last year due to the impact of COVID-19. In line with our ‘Sustainable High Quality Growth’ strategy, we also conducted a round of thorough review of our existing pipeline and eliminated lower-quality pipeline hotels. This resulted in a quarter-over-quarter decline in the number of unopened hotels in pipeline. Our new hotel signings gained momentum quickly, reaching over 670 new hotels during the quarter, in tandem with the market recovery." Steigenberger Hotels and its subsidiaries continued with promising business recovery. Q1 Blended RevPAR recovered to 94% of the 2019 levels mainly driven by ADR recovery.
Published first on TheFly
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