Huazhu Group announces 2024 results, declares cash dividend

Huazhu Group (HKEX: 1179) announced its unaudited financial results for the fourth quarter and full year of 2024, alongside a declaration of a cash dividend. The company reported a 7.8% year-over-year revenue increase for the fourth quarter, reaching RMB6.0 billion, and a 9.2% increase for the full year, totaling RMB23.9 billion. This performance exceeded previous revenue guidance. The board has approved a cash dividend of US$0.097 per ordinary share, or US$0.97 per ADS, for the second half of 2024, amounting to approximately US$300 million. The total shareholder returns for 2024 reached US$767 million, including the cash dividend and US$267 million in share repurchases. As of December 31, 2024, Huazhu Group operated 11,147 hotels with 1,088,218 rooms and the company expects continued growth in manachised and franchised hotel segments for 2025.