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SEGMENT

12 Months Ended

Dec. 31, 2024

SEGMENT

SEGMENT

14. SEGMENT

The Group’s chief operating decision maker (“CODM”) has been identified as the chief executive officer. The Group has two operating segments which are legacy Huazhu and legacy DH according to the way management intends to evaluate results and allocate resources within the Group. In identifying its reportable segments, the Group assesses the nature of operating segments and evaluates the operating results of each reporting segment. Both operating segments meet the quantitative thresholds and should be considered as two reportable segments. The CODM uses revenue and Adjusted EBITDA to evaluate the trends of the segments over time and monitor budget-to-actual variances to assess the performance and determine how to allocate capital resources. To better reflect the profitability of core business, the Group has redefined Adjusted EBITDA starting in 2024, with comparative figures for 2022 and 2023 restated accordingly. Adjusted EBITDA is defined as net (loss) income attributable to H World Group Limited excluding income tax expense (benefit), interest expense, interest income, depreciation and amortization, share-based compensation expenses, gain(loss) from fair value changes of equity securities, foreign exchange gain(loss) and gain(loss) on disposal of investments. Significant segment expenses include adjusted hotel operating costs, adjusted selling and marketing expenses, adjusted general and administrative expenses, all of which exclude depreciation and amortization and share-based compensation expenses. The CODM does not use assets by operating segment when assessing performance or making operating segment resource allocations.

The following table provides a summary of the Group’s operating segment results and reconciliation of Adjusted EBITDA to net (loss) income attributable to H World Group Limited for the years ended December 31, 2022, 2023 and 2024.

​

​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​
​	​	Years Ended December 31,
​	​	2022							​	2023							​	2024
​	​	Legacy	​	Legacy	​	​	​	​	​	Legacy	​	Legacy	​	​	​	​	​	Legacy	​	Legacy	​	​	​	​
​		Huazhu		DH		Elimination		Total		Huazhu		DH		Elimination		Total		Huazhu		DH		Elimination		Total
Leased and owned hotels	​	6,062	​	3,086	​	—	​	9,148	​	9,522	​	4,286	​	(12)	​	13,796	​	9,146	​	4,697	​	—	​	13,843
Manachised and franchised hotels	​	4,324	​	86	​	(5)	​	4,405	​	7,596	​	107	​	(9)	​	7,694	​	9,385	​	126	​	(13)	​	9,498
Others	​	275	​	40	​	(6)	​	309	​	326	​	72	​	(6)	​	392	​	498	​	58	​	(6)	​	550
Total revenues		10,661		3,212		(11)	​	13,862		17,444		4,465		(27)	​	21,882		19,029		4,881		(19)	​	23,891
Adjusted hotel operating costs		(7,958)		(2,857)	​	—	​	—		(9,419)		(3,569)		—	​	—		(9,888)		(4,125)		—	​	—
Adjusted selling and marketing expenses		(331)		(277)	​	—	​	—		(641)		(429)		—	​	—		(723)		(451)		—	​	—
Adjusted general and administrative expenses	​	(1,184)	​	(401)	​	—	​	—	​	(1,405)	​	(505)	​	—	​	—	​	(1,573)	​	(575)	​	—	​	—
Other segment items (primarily include other operating income, net)	​	85	​	231	​	—	​	—	​	206	​	122	​	—	​	—	​	129	​	116	​	—	​	—
Adjusted EBITDA	​	1,273	​	(92)	​	(3)	​	1,178	​	6,185	​	84	​	(1)	​	6,268	​	6,974	​	(154)	​	(0)	​	6,820
Interest income		—		—	​	—	​	87		—		—		—	​	248		—		—	​	—	​	210
Interest expense		—		—	​	—	​	(409)		—		—		—	​	(385)		—		—	​	—	​	(318)
Income tax expense		—		—	​	—	​	(207)		—		—		—	​	(1,204)		—		—	​	—	​	(1,662)
Depreciation and amortization		—		—	​	—	​	(1,456)		—		—		—	​	(1,414)		—		—	​	—	​	(1,332)
Share-based compensation		—	​	—		—	​	(87)		—		—	​	—	​	(143)		—		—	​	—	​	(322)
(Loss) gain from fair value changes of equity securities	​	—	​	—	​	—	​	(359)	​	—	​	—	​	—	​	109	​	—	​	—	​	—	​	(66)
Foreign exchange gain (loss), net	​	—	​	—	​	—	​	(641)	​	—	​	—	​	—	​	90	​	—	​	—	​	—	​	(272)
Gain (loss) on disposal of investments	​	—	​	—	​	—	​	73	​	—	​	—	​	—	​	516	​	—	​	—	​	—	​	(10)
Net (loss) income attributable to H World Group Limited		—	​	—	​	—	​	(1,821)	​	—	​	—	​	—	​	4,085	​	—	​	—	​	—	​	3,048

​

The following tables represent revenues and property and equipment, net, intangible assets, net, right-of-use assets, land use rights, net and goodwill by geographical region.

Revenues:

​	​	​	​	​	​	​
​	​	Years Ended December 31,
​		2022		2023		2024
China		10,637	​	17,393		18,984
Germany		2,458	​	3,324		3,544
All others		767	​	1,165		1,363
Total		13,862	​	21,882		23,891

​

Property and equipment, net, intangible assets, net, right - of - use assets, land use rights, net and goodwill:

​

​	​	​	​	​
​	​	As of December 31,
​		2023		2024
China		28,762		27,461
Germany		12,504		11,940
All others		3,439		3,716
Total		44,705		43,117

​

Other than China and Germany, there were no countries that individually represented more than 10% of the total revenue for the years ended December 31, 2022, 2023 and 2024.

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The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

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