H World Group Limited Announces CNY3.35 Billion Bond Offering
News related to:H World Group Limited · 2 min read
H World Group Limited, a key player in the global hotel industry, has announced the successful pricing of a CNY3.35 billion CNY-denominated senior unsecured bond offering. The bonds, carrying a 2.25% coupon rate, are due in 2031 and were offered in offshore transactions outside the United States to non-U.S. persons, in compliance with Regulation S under the United States Securities Act of 1933.
According to the press release, the Company intends to use the net proceeds from this bond offering for general corporate purposes. H World Group Limited aims to close the transaction on September 16, 2026, subject to the satisfaction of customary closing conditions. The bonds are expected to be listed on The Stock Exchange of Hong Kong Limited.
As of June 30, 2026, H World Group Limited operated 13,539 hotels with 1,335,445 rooms in 21 countries, encompassing a diverse range of 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, the company 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 Group Limited's business model includes both a L&O (Lease & Operate) and M&F (Management & Franchise) model. Under the L&O model, the company directly operates hotels typically located on leased or owned properties. In contrast, the M&F model involves managing franchised hotels through appointed on-site hotel managers and collecting fees from franchisees. As of June 30, 2026, 7% of H World Group Limited's hotel rooms were operated under the L&O model, while 93% were managed under the M&F model.
The company's expansion and financial activities reflect its significant presence in the global hotel industry. This bond offering is expected to further enhance the company's financial flexibility and support its strategic growth initiatives.