H World International has posted a profit for the first time since its Chinese parent, H World Group, acquired it for around €700 million ($819 million) in 2019.
The subsidiary formerly known as Deutsche Hospitality – which operates 118 hotels as of the end of 2025 – generated approximately €63 million ($73.7 million) in adjusted EBITDA, swinging from a loss of around €19 million ($22.2 million) the previous year.
Dr. Stephan Hungeling, who took full responsibility as H World International CEO in April 2025, is measured about what one profitable year does and doesn’t prove.
“It was the first time since the acquisition that we achieved more than €60 million reported EBITDA,” he said. “We need to make sure that we again exceed €60 million … Then I think we can really talk about turnaround.”
Getting the Numbers Moving
There are clear signs of growth:
Hotel turnover grew 8.5% year-over-year for 2025