May 17，Huazhu Group (NASDAQ: HTHT；01179.HK) released its financial report for the first quarter of 2024。Financial report data display，First quarter of this year，Huazhu Group achieved total revenue of approximately 5.3 billion yuan (RMB，The same below)，17 year-on-year increase.8%，Better than previously announced guidance limit。

The reason behind the performance growth is Huazhu’s deep involvement in the accommodation industry，Forward-looking insights into trends，And adhere to the strategic determination of long-term layout and high-quality development。Huazhu expects revenue to continue to grow in the second quarter of this year，YoY growth between 7% and 11%。

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Since 2024，The cultural tourism market continues the trend of comprehensive recovery last year。According to data released by the Ministry of Culture and Tourism，First quarter of 2024，Domestic travel number 14.1.9 billion，An increase of 2 over the same period last year.0.3 billion，16 year-on-year increase.7%；Total travel 188bet sports betting app download expenses of domestic tourists 1.52 trillion yuan，Increase by 0 over the previous year.22 trillion yuan，17 year-on-year increase.0%。

Huazhu Group CEO Jin Hui said，Huazhu’s confidence in the long-term growth of China’s accommodation market remains unchanged。Company“Lean growth strategy around service excellence”Not only helps to further achieve high-quality store development，Also helps improve customer satisfaction，To gain a stronger competitive advantage。

Facing steady growth in travel demand，Huazhu Group continues to promote diversified brand layout，Serving the mass market with an active store expansion rhythm。As of the end of the first quarter，Huazhu Group has 9 hotels in operation worldwide,817，The number of hotel rooms is 955,657 rooms，Quantity to be opened is 3,172 families。Among them，The number of hotels in operation of Huazhu China is 9,684，The number of rooms is 928,509 rooms。First quarter，The number of newly opened hotels in Huazhu China is 569，The number of hotels to be opened is 3,138。

First quarter，Huazhu China continues to focus on economy and mid-range hotels，Promote the iteration of structure and products、Upgrade。Supply side volume、Quality improves，Huazhu China’s market competitiveness has also been enhanced。First quarter，Huazhu China’s mixed RevPAR is 216 yuan，YoY growth 3.1%；The 188bet sports betting app download average daily price (ADR) is 280 yuan，1% year-on-year increase；Occupancy rate (OCC) is 77.2%，Increased by 1 year-on-year.6 percentage points，The three core indicators of the hotel industry rose simultaneously。

Huazhu International’s performance is also showing a positive trend，First quarter revenue increased by 16% year-on-year.6%，RevPAR increased by 4 year-on-year.5%，ADR increased by 0 year-on-year.2%，OCC increased by 2 year-on-year.3 percentage points。Jin Hui said: “In terms of business outside China，Huazhu will continue to focus on reducing costs and improving efficiency，To achieve better profitability。Also，Will be committed to transforming the business into a more asset-light model，Enhance direct sales through Huazhu Club global loyalty program，And pursue growth opportunities in new regions outside Europe。”

Grasp“Quality-price ratio”Consumption Trends，Pay equal attention to both increment and quality improvement

current，China’s hotel industry is gradually transitioning from scale to quality、Upgrade，Consumers’ needs are personalized、Diversified changes。In pursuit of“Quality-price ratio”Under the wave of the times，Consumers’ brand reputation of the hotel、There are higher requirements for tonality and the products and services that can be provided，Changes on the demand side are 188bet sports betting app download also forcing structural reforms on the supply side。

Follow the trend of industry changes，Huazhu actively implements a lean growth strategy centered on service excellence，Intensify efforts to build a high-quality hotel network。On the one hand，Huazhu China continues to upgrade by Hanting、The iron triangle brand composed of all seasons and oranges，To better serve the public’s rigid demand market；On the other hand，Create new products。First quarter of this year，To meet the accommodation needs of young consumer groups，Huazhu launched a new version of Nihao Hotel based on Hanting’s mature experience，will serve as a strong supplement to the Hanting brand in the national hotel market。

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Meanwhile，Huazhu also takes into account the development of mid- to high-end brands，To meet the differentiated needs of different consumer groups。As of the end of the first quarter of 2024，The number of mid- to high-end hotels in operation by Huazhu China reaches 686，28% year-on-year increase，6% month-on-month increase；430 stores to be opened，81% year-on-year increase，11% month-on-month increase，Revealing Huazhu’s strong brand power and attractiveness to franchisees。

As of the end of the first quarter，Huazhu China has covered the whole country1,290 cities，An increase of 158 cities compared with the same period last year。With the past two years“188bet app download Reverse tour”、Small town tour is gradually gaining momentum，Huazhu China’s sinking strategy is expected to bring more incremental opportunities。