Huazhu Group Ltd

Domestic hotel giants are making an aggressive push into the long-term rental apartment market. Huazhu will launch a "sojourn" channel on its membership platform to integrate Chengjia Apartment resources and offer weekly and monthly rental products, while Jin Jiang Hotels has unveiled the "Tuling Apartment" and "Lingju Apartment" brands. International brands such as Marriott, Accor, and Hyatt are also accelerating their positioning. Huazhu's sojourn channel covers more than 50 cities and over 100 properties. Taking first-tier cities like Beijing and Shanghai as an example, Chengjia Apartment listings in downtown locations generally range from 3,000 to 6,500 yuan per month, with some units in outlying areas priced as low as 1,100 yuan per month. Data disclosed at Jin Jiang Hotels' launch event shows that Tuling's nationwide bed count has surpassed 4,496, and Lingju's Shekou store in Shenzhen was fully leased upon opening. Chengjia Apartment told Red Star Capital Bureau on September 17 that so far about 88 percent of all sojourn orders have come from members who had previously placed orders on Huazhu's platform, while about 4 percent are newly registered Huazhu users. Li Zhanpu, a senior analyst at TravelDaily, told Red Star Capital Bureau on September 17 that the core driver is mounting growth pressure on the core hotel business, making the long-term rental apartment sector a strategic choice for exploring a second growth curve. However, he also noted that the long-term rental apartment sector itself is already very crowded, and hotel brands entering the market is equivalent to "carving out a piece of meat" from established players. In the next three to five years, hotel-affiliated players may still be unable to become mainstream forces in long-term rental apartments.

H World Group Limited reported second quarter 2026 revenue of RMB7.1 billion, up 10.8% year-over-year, and net income attributable to the company of RMB1.6 billion, up 2.1% from a year earlier. The company's board approved a three-year shareholder return plan of US$2.5 billion and declared an ordinary cash dividend of approximately US$275 million, or US$0.087 per ordinary share and US$0.87 per American Depositary Share. H World raised its full-year 2026 revenue growth guidance to 4%-8% from 2%-6%, with H World China revenue growth expected at 7%-11% and manachised and franchised revenue growth at 16%-20%. As of June 30, 2026, the company operated 13,539 hotels with 1,335,445 rooms, including 13,417 hotels in China and 122 internationally.

H World Group Limited has appointed Yanjun Sun as an independent director of its board, effective July 28, 2026. Mr. Sun brings leadership experience from global investment firms including Jardine Matheson, TPG Capital, and Goldman Sachs, and currently serves as an independent non-executive director of China National Building Material Company Limited. H World’s founder and executive chairman Qi Ji stated that Mr. Sun’s talents and experience will greatly benefit the company’s long-term sustainable growth. H World operates 13,215 hotels with over 1.3 million rooms across 21 countries under brands such as HanTing, JI Hotel, and Steigenberger.

H World Group reported first-quarter 2026 earnings that exceeded expectations, with EPS of RMB3.36 surpassing the RMB3.13 estimate and revenue of RMB6.0 billion topping the RMB5.66 billion forecast. Manachised and franchised revenue grew 20.3% to RMB3.0 billion, while H World China revenue rose 12.4% year-over-year to RMB5 billion, driving the overall performance. The company operated 13,215 hotels globally as of March 31, with 2,894 more in the pipeline, and opened 537 hotels in China during the quarter while closing 177, signaling continued aggressive network expansion.