Atour Lifestyle Reports Strong Q3 2024 Results

Atour Lifestyle Holdings Limited ( (ATAT) ) has released its Q3 earnings. Here is a breakdown of the information Atour Lifestyle Holdings Limited presented to its investors.

Atour Lifestyle Holdings Limited is a leading hospitality and lifestyle company in China, known for its distinct portfolio of lifestyle hotel brands and as the first Chinese hotel chain to develop a scenario-based retail business. The company is committed to innovating within China’s hospitality industry and building new lifestyle brands around hotel offerings.

For the third quarter of 2024, Atour Lifestyle Holdings Limited reported a substantial increase in net revenues, reaching RMB1,899 million, marking a 46.7% rise from the previous year. This growth was largely fueled by the expansion of its manachised hotel network and retail business, alongside a notable increase in gross merchandise value from its retail operations.

Among the key financial highlights, Atour’s net income for the quarter rose by 45.3% to RMB381 million, while adjusted net income and EBITDA also saw significant increases. The company’s hotel network expanded to 1,533 hotels with 175,199 rooms, representing a substantial growth in both the number of hotels and rooms year-over-year. Additionally, Atour launched a new upscale brand, SAVHE Hotel, aimed at strengthening its presence in the upscale market.

Atour’s strategic focus remains on executing its core ‘Chinese Experience’ strategy, with an emphasis on enhancing hotel offerings and service capabilities to drive growth in its retail business. The company anticipates continued robust growth, projecting a 48% to 52% increase in total net revenues for the full year of 2024.

Overall, Atour Lifestyle Holdings Limited is positioned for sustained growth, leveraging its expanding hotel network and innovative retail strategies to reinforce its competitive edge in China’s dynamic hospitality market.