{"id":213501,"date":"2026-03-20T00:28:00","date_gmt":"2026-03-19T16:28:00","guid":{"rendered":"https:\/\/gothe.tw\/?p=213501"},"modified":"2026-03-20T00:28:00","modified_gmt":"2026-03-19T16:28:00","slug":"%e8%8f%af%e4%bd%8f%e9%9b%86%e5%9c%98-2025-%e5%85%a8%e5%b9%b4%e6%a5%ad%e7%b8%be%e5%bc%b7%e5%8b%81%ef%bc%8c%e8%bc%95%e8%b3%87%e7%94%a2%e5%a2%9e%e9%95%b7%e6%88%90%e9%97%9c%e9%8d%b5%e5%8b%95%e5%8a%9b","status":"publish","type":"post","link":"https:\/\/gothe.tw\/?p=213501","title":{"rendered":"\u83ef\u4f4f\u96c6\u5718 2025 \u5168\u5e74\u696d\u7e3e\u5f37\u52c1\uff0c\u8f15\u8cc7\u7522\u589e\u9577\u6210\u95dc\u9375\u52d5\u529b"},"content":{"rendered":"<div>\n<table name=\"logo_release\" border=\"0\" cellspacing=\"10\" cellpadding=\"5\" align=\"right\">\n<tbody>\n<tr>\n<td><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><span class=\"legendSpanClass\">\u4e0a\u6d77<\/span><span class=\"legendSpanClass\">2026\u5e743\u670820\u65e5<\/span> \/\u7f8e\u901a\u793e\/ \u2014 \u5168\u7403\u9818\u5148\u7684\u9152\u5e97\u96c6\u5718\uff0c\u83ef\u4f4f\u96c6\u5718\u6709\u9650\u516c\u53f8 (H World Group Limited) (NASDAQ: HTHT) (HKEX: 01179) \u4eca\u5929\u516c\u4f48\u622a\u81f3 2025 \u5e74 12 \u6708 31 \u65e5\u7684\u7b2c\u56db\u5b63\u5ea6\u53ca\u5168\u5e74\u672a\u7d93\u5be9\u6838\u8ca1\u52d9\u5831\u544a\u3002\u696d\u7e3e\u986f\u793a\uff0c\u96c6\u5718\u5728\u9580\u5e02\u7db2\u7d61\u64f4\u5f35\u3001\u8f15\u8cc7\u7522\u8f49\u578b\u3001\u76c8\u5229\u80fd\u529b\u63d0\u5347\u53ca\u5fe0\u5be6\u6703\u54e1\u8a08\u5283\u7b49\u65b9\u9762\u5747\u767c\u5c55\u5f37\u52c1\u3002<\/p>\n<div id=\"prni_dvprnejpge6b9left\" dir=\"ltr\" style=\"TEXT-ALIGN: center; WIDTH: 100%\">   <a href=\"https:\/\/mma.prnasia.com\/media2\/2936914\/JJ_Hotel.jpg?p=medium600\" target=\"_blank\" style=\"color: #0000FF\"><img decoding=\"async\" id=\"prnejpge6b9left\" title=\"JI Hotel Shanghai Wuzhong Road. As of December 31, 2025, JI Hotel operated 3,565 hotels, offering a total of 404,616 rooms globally.\" src=\"https:\/\/mma.prnasia.com\/media2\/2936914\/JJ_Hotel.jpg?p=medium600\" alt=\"JI Hotel Shanghai Wuzhong Road. As of December 31, 2025, JI Hotel operated 3,565 hotels, offering a total of 404,616 rooms globally.\" align=\"middle\"><\/a>   <br \/>   <span>JI Hotel Shanghai Wuzhong Road. As of December 31, 2025, JI Hotel operated 3,565 hotels, offering a total of 404,616 rooms globally.<\/span>  <\/div>\n<p>\u83ef\u4f4f\u96c6\u5718\u884c\u653f\u7e3d\u88c1\u91d1\u8f1d\u8868\u793a\uff1a\u300c2025 \u5e74\u662f\u96c6\u5718\u6210\u7acb\u00a020 \u9031\u5e74\u7684\u91cd\u8981\u91cc\u7a0b\u7891\uff0c\u4e5f\u662f\u6211\u5011\u7db2\u7d61\u898f\u6a21\u518d\u5ea6\u5be6\u73fe\u5f37\u52c1\u64f4\u5f35\u7684\u4e00\u5e74\uff0c\u65b0\u958b\u696d\u9152\u5e97\u8d85\u904e\u00a02,400 \u9593\u3002 \u66f4\u91cd\u8981\u7684\u662f\uff0c\u53d7\u60e0\u65bc\u7522\u54c1\u5347\u7d1a\u548c\u56b4\u8b39\u6536\u76ca\u7ba1\u7406\uff0c\u672c\u96c6\u5718\u7684\u00a0RevPAR \u8868\u73fe\u9010\u5b63\u6539\u5584\uff0c\u4e26\u5728\u7b2c\u56db\u5b63\u5ea6\u6062\u5fa9\u6b63\u589e\u9577\uff0c\u9ad4\u73fe\u96c6\u5718\u696d\u52d9\u7684\u7a69\u5065\u57fa\u790e\u53ca\u512a\u8d8a\u8cea\u7d20\u3002\u300d<\/p>\n<p><b>\u8f15\u8cc7<\/b><b>\u7522\u7b56\u7565\u63a8\u52d5\u512a\u8cea\u589e\u9577<\/b><\/p>\n<p>\u5728\u8f15\u8cc7\u7522\u7b56\u7565\u6df1\u5316\u548c\u71df\u904b\u6548\u7387\u63d0\u5347\u7684\u96d9\u91cd\u63a8\u52d5\u4e0b\uff0c\u83ef\u4f4f\u7b2c\u56db\u5b63\u5ea6\u53ca\u5168\u5e74\u696d\u7e3e\u8868\u73fe\u5f37\u52c1\u3002<\/p>\n<p>\u7b2c\u56db\u5b63\u5ea6\uff0c\u9152\u5e97\u7e3d\u4ea4\u6613\u984d\u00a0(GMV) \u540c\u6bd4\u589e\u9577\u00a018.4% \u81f3\u4eba\u6c11\u5e63\u00a0281 \u5104\u5143\u3002 \u7ba1\u7406\u53ca\u7279\u8a31\u7d93\u71df\u00a0(M&F) \u9152\u5e97\u7684\u6536\u76ca\u589e\u9577\u00a021.0% \uff0c\u9054\u4eba\u6c11\u5e63\u00a030 \u5104\u5143\u3002 \u7d93\u8abf\u6574\u7a05\u606f\u6298\u820a\u53ca\u6524\u92b7\u524d\u76c8\u5229\u00a0(EBITDA) \u9054\u81f3\u4eba\u6c11\u5e63\u00a022 \u5104\u5143\u3002<\/p>\n<p>2025 \u5e74\u5168\u5e74\uff0c\u9152\u5e97\u7e3d\u4ea4\u6613\u984d\u540c\u6bd4\u589e\u9577\u00a016.4% \uff0c\u9054\u5230\u4eba\u6c11\u5e63\u00a01,081 \u5104\u5143\u3002 \u7ba1\u7406\u53ca\u7279\u8a31\u7d93\u71df\u6536\u76ca\u589e\u9577\u00a023.1% \u81f3\u4eba\u6c11\u5e63\u00a0117 \u5104\u5143\u3002 \u7ba1\u7406\u53ca\u7279\u8a31\u7d93\u71df\u696d\u52d9\u7684\u7d93\u71df\u6bdb\u5229\u589e\u9577\u00a020.8% \u81f3\u4eba\u6c11\u5e63\u00a076 \u5104\u5143\uff0c\u9032\u4e00\u6b65\u63d0\u9ad8\u5176\u5c0d\u7e3d\u5229\u6f64\u7684\u8ca2\u737b\uff0c\u4e26\u5f70\u986f\u96c6\u5718\u8f15\u8cc7\u7522\u8f49\u578b\u7684\u9032\u5c55\u3002\u00a02025 \u5e74\u7684\u7d93\u8abf\u6574\u7a05\u606f\u6298\u820a\u53ca\u6524\u92b7\u524d\u76c8\u5229\u9054\u5230\u4eba\u6c11\u5e63\u00a085 \u5104\u5143\uff0c\u540c\u6bd4\u589e\u9577\u00a024.2% \u3002<\/p>\n<p><b>\u7db2\u7d61\u64f4\u5f35\u6301\u7e8c\u63a8\u52d5\u5e02\u5834\u9818\u5c0e\u5730\u4f4d<\/b><\/p>\n<p>\u83ef\u4f4f\u8cab\u5fb9\u4ee5\u54c1\u724c\u70ba\u4e3b\u5c0e\u7684\u512a\u8cea\u589e\u9577\u7b56\u7565\uff0c\u6301\u7e8c\u5f37\u5316\u9152\u5e97\u7db2\u7d61\uff0c\u6df1\u5316\u5927\u773e\u5e02\u5834\u4f48\u5c40\u7684\u540c\u6642\uff0c\u978f\u56fa\u6838\u5fc3\u65d7\u8266\u54c1\u724c\u7684\u5e02\u5834\u7af6\u722d\u529b\u3002<\/p>\n<p>\u96c6\u5718\u6838\u5fc3\u7684\u6709\u9650\u670d\u52d9\u54c1\u724c\uff0c\u5305\u62ec\u6f22\u5ead\u9152\u5e97\u3001\u5168\u5b63\u9152\u5e97\u53ca\u6854\u5b50\u9152\u5e97\uff0c\u65d7\u4e0b\u65b0\u4e00\u4ee3\u9152\u5e97\u7684\u4f54\u6bd4\u6301\u7e8c\u63d0\u5347\uff0c\u53cd\u6620\u51fa\u7522\u54c1\u5347\u7d1a\u53ca\u54c1\u724c\u6a19\u6e96\u5316\u5de5\u4f5c\u6b63\u7a69\u6b65\u63a8\u9032\u3002<\/p>\n<p>\u622a\u81f3\u00a02025 \u5e74\u00a012 \u6708\u00a031 \u65e5\uff0c\u96c6\u5718\u71df\u904b\u00a012,858 \u9593\u9152\u5e97\uff0c\u5ba2\u623f\u6578\u91cf\u8d85\u904e\u00a0126 \u842c\u9593\uff0c\u5728\u71df\u5ba2\u623f\u7e3d\u6578\u540c\u6bd4\u589e\u9577\u00a016.2% \u3002<\/p>\n<p>\u83ef\u4f4f\u5fe0\u5be6\u6703\u54e1\u8a08\u5283\u83ef\u4f4f\u6703\u7684\u7528\u6236\u6d3b\u8e8d\u5ea6\u6301\u7e8c\u63d0\u5347\uff0c\u6703\u54e1\u9810\u8a02\u9593\u591c\u91cf\u6309\u5e74\u4e0a\u5347\u00a021.5% \u81f3\u00a02.45 \u5104\u3002<\/p>\n<p><b>Legacy-Deutsche Hospitality <\/b><b>\u696d\u52d9\u626d\u8667\u70ba\u76c8\u7684\u91cc\u7a0b\u7891<\/b><\/p>\n<p>\u83ef\u4f4f\u6301\u7e8c\u6539\u5584\u00a0legacy-Deutsche Hospitality (\u300cDH\u300d) \u696d\u52d9\u7684\u8868\u73fe\uff0c\u6210\u679c\u7a69\u6b65\u986f\u73fe\u3002\u00a0Legacy-DH \u5206\u90e8\u00a02025 \u5168\u5e74\u7684\u7d93\u8abf\u6574\u7a05\u606f\u6298\u820a\u53ca\u6524\u92b7\u524d\u76c8\u5229\u70ba\u4eba\u6c11\u5e63\u00a04.99 \u5104\u5143\uff0c\u800c\u00a02024 \u5e74\u5247\u9304\u5f97\u8667\u640d\u4eba\u6c11\u5e63\u00a01.54 \u5104\u5143\uff0c\u53cd\u6620\u904e\u53bb\u4e00\u5e74\u5be6\u65bd\u7684\u91cd\u7d44\u548c\u71df\u904b\u512a\u5316\u63aa\u65bd\u6548\u679c\u5353\u8457\u3002<\/p>\n<p>\u5c55\u671b\u00a02026 \u5e74\uff0c\u83ef\u4f4f\u5c07\u7e7c\u7e8c\u978f\u56fa\u6838\u5fc3\u512a\u52e2\uff0c\u7740\u529b\u63d0\u5347\u7522\u54c1\u6a19\u6e96\u3001\u5f37\u5316\u5546\u696d\u53ca\u6536\u76ca\u7ba1\u7406\u80fd\u529b\uff0c\u4e26\u5c07\u79d1\u6280\u66f4\u6df1\u5c64\u6b21\u5730\u878d\u5165\u71df\u904b\u4e2d\u3002 \u6191\u8457\u5f37\u5927\u7684\u54c1\u724c\u7d44\u5408\u3001\u6301\u7e8c\u589e\u9577\u7684\u6703\u54e1\u898f\u6a21\u3001\u6df1\u539a\u7684\u71df\u904b\u5c08\u696d\u77e5\u8b58\u4ee5\u53ca\u5ee3\u6cdb\u7684\u5408\u4f5c\u5925\u4f34\u7db2\u7d61\uff0c\u96c6\u5718\u5df2\u84c4\u52e2\u5f85\u767c\uff0c\u5c07\u5168\u529b\u63a8\u52d5\u53ef\u6301\u7e8c\u589e\u9577\uff0c\u7de0\u9020\u9577\u9060\u50f9\u503c\u3002<\/p>\n<p>\u6709\u95dc\u5b8c\u6574\u65b0\u805e\u7a3f\uff0c\u8acb\u700f\u89bd\uff1a<\/p>\n<p><b>\u95dc\u65bc\u83ef\u4f4f\u96c6\u5718\u6709\u9650\u516c\u53f8<\/b><\/p>\n<p>\u83ef\u4f4f\u96c6\u5718\u6709\u9650\u516c\u53f8\u00a0(NASDAQ: HTHT) (HK: 01179) \u7e3d\u90e8\u4f4d\u65bc\u4e2d\u570b\uff0c\u662f\u5168\u7403\u9818\u5148\u7684\u9152\u5e97\u96c6\u5718\uff0c\u65d7\u4e0b\u54c1\u724c\u7d44\u5408\u591a\u5143\u5316\uff0c\u6db5\u84cb\u00a0Steigenberger Icons\u3001Steigenberger Hotels & Resorts\u3001MAXX\u3001\u6f22\u5ead\u9152\u5e97\u3001\u5168\u5b63\u9152\u5e97\u3001\u6854\u5b50\u6c34\u6676\u9152\u5e97\u7b49\u3002 \u96c6\u5718\u5f37\u8abf\u8f15\u8cc7\u7522\u71df\u904b\u3001\u6578\u78bc\u5275\u65b0\u548c\u7b56\u7565\u6027\u54c1\u724c\u767c\u5c55\uff0c\u4ee5\u63a8\u52d5\u53ef\u6301\u7e8c\u7684\u570b\u969b\u589e\u9577\u3002<\/p>\n<p>\u5982\u6b32\u4e86\u89e3\u66f4\u591a\u8cc7\u8a0a\uff0c\u8acb\u700f\u89bd\u83ef\u4f4f\u7db2\u7ad9\uff1a\u00a0<a href=\"https:\/\/ir.hworld.com\/\" target=\"_blank\" rel=\"nofollow\" style=\"color: #0000FF\">https:\/\/ir.hworld.com\/<\/a><\/p>\n<p>\u6709\u95dc\u5a92\u9ad4\u67e5\u8a62\uff0c\u8acb\u806f\u7d61\uff1a<br \/><a href=\"mailto:media@hworld.com\" target=\"_blank\" rel=\"nofollow\" style=\"color: #0000FF\">media@hworld.com<\/a><br \/><a href=\"mailto:zheming@taskforce-china.cn\" target=\"_blank\" rel=\"nofollow\" style=\"color: #0000FF\">zheming@taskforce-china.cn<\/a><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>\u4e0a\u6d772026\u5e743\u670820\u65e5 \/\u7f8e\u901a\u793e\/ \u2014 \u5168<\/p>\n","protected":false},"author":16,"featured_media":213502,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1984],"tags":[],"class_list":["post-213501","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-prnasia","two-columns"],"_links":{"self":[{"href":"https:\/\/gothe.tw\/index.php?rest_route=\/wp\/v2\/posts\/213501","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/gothe.tw\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/gothe.tw\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/gothe.tw\/index.php?rest_route=\/wp\/v2\/users\/16"}],"replies":[{"embeddable":true,"href":"https:\/\/gothe.tw\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=213501"}],"version-history":[{"count":0,"href":"https:\/\/gothe.tw\/index.php?rest_route=\/wp\/v2\/posts\/213501\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/gothe.tw\/index.php?rest_route=\/wp\/v2\/media\/213502"}],"wp:attachment":[{"href":"https:\/\/gothe.tw\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=213501"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/gothe.tw\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=213501"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/gothe.tw\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=213501"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}