H World Group Completes CNY3.35 Billion Bond Offering

H World Group Limited, a key player in the global hotel industry, has successfully completed a CNY3.35 billion offering of CNY-denominated senior unsecured bonds. The bonds, with a 2.25% interest rate and due in 2031, were sold in offshore transactions outside the United States to non-U.S. persons, in compliance with Regulation S under the U.S. Securities Act of 1933.

The proceeds from the bond offering will be used for general corporate purposes, according to the company. The listing of the bonds on the Hong Kong Stock Exchange is expected to become effective on September 17, 2026.

As of June 30, 2026, H World operated 13,539 hotels with 1,335,445 rooms in 21 countries. The company’s portfolio includes well-known brands such as HanTing Hotel, JI Hotel, Orange Hotel, Crystal Orange Hotel, IntercityHotel, Grand JI Hotel, Hi Inn, Ni Hao Hotel, Elan Hotel, Zleep Hotels, Starway Hotel, CitiGO, Manxin Hotel, Madison Hotel, MAXX Hotel, Blossom House, Joya Hotel, Steigenberger Hotels & Resorts, Jaz in the City, Steigenberger Icons, and Song Hotels. Additionally, H World has the rights as master franchisee for Mercure, Ibis, and Ibis Styles, and co-development rights for Grand Mercure and Novotel in the pan-China region.

H World operates its hotels under two main business models: L&O (Lease and Operate) and M&F (Management and Franchise). Under the L&O model, the company directly operates hotels typically located on leased or owned properties. In the M&F model, H World manages franchised hotels through on-site hotel managers appointed by the company and collects fees from franchisees. As of June 30, 2026, H World operated 7% of its hotel rooms under the L&O model and 93% under the M&F model.

The company’s expansion and financial strength are indicative of its growing presence in the global hotel market. With a diverse portfolio of brands and a strong market position, H World is well-positioned to continue its growth trajectory.