H World Group reports strong Q2 2026 earnings and new shareholder return plan

H World Group reported strong financial results for the second quarter of 2026, driven by its transition toward an asset-light business model. Total group revenue rose 10.8% year-over-year to RMB 7.12 billion, while adjusted EBITDA increased 20% to RMB 2.7 billion.

The company’s management, franchising, and franchised (M&F) revenue grew by 25.2% to RMB 3.6 billion. This growth is reflected in the company’s expansion strategy; in China, 497 of the 498 new hotel openings during the quarter utilized the M&F model. As of June 30, 2026, approximately 93% of the group’s 1.335 million rooms operated under M&F models, compared to only 7% under leased-and-owned models.

Following the early completion of a previously announced USD 2 billion shareholder return program, the board has approved a new three-year, USD 2.5 billion shareholder return plan effective August 17, 2026. This plan will be implemented through cash dividends and share repurchases. Consequently, the group has raised its full-year 2026 revenue growth forecast to a range of 4% to 8%.