Atour Lifestyle Holdings Ltd - ATAT STOCK NEWS

Atour Lifestyle Holdings (NASDAQ: ATAT) has announced a proposed secondary offering by Legend Capital of 10,000,000 American Depositary Shares (ADSs), each representing three Class A ordinary shares. The underwriters have a 30-day option to purchase up to 1,500,000 additional ADSs. Atour will not receive proceeds from the sale. Post-offering, Legend Capital will own approximately 7.6% of Atour's share capital, assuming no additional ADSs are purchased. Director Hongbin Zhou, appointed by Legend Capital, will resign following the offering. BofA Securities, CMB International Capital, and Citigroup Global Markets are joint bookrunners. The offering will proceed under a shelf registration statement filed with the SEC.

On May 23, Atour Lifestyle Holdings (NASDAQ: ATAT) released its first Environmental, Social, and Governance (ESG) report for 2023, highlighting its sustainability initiatives. Notable efforts include refurbishment projects using modular designs for new products Atour Light 3.0 and Atour 4.0, which reduce maintenance costs and construction waste. The company has integrated eco-friendly amenities like biodegradable paper cups and natural cotton beddings in its hotels.

Atour’s water conservation measures save 12.67 tons per room annually across 1,210 hotels. The company also focuses on customer experience, franchisee support, and societal contributions, such as purchasing 150 tons of tea leaves worth RMB 37 million from local villagers and donating clothes worth RMB 2 million to the needy. The company aims to expand its hotel network to 2,000 by 2025 while enhancing ESG initiatives.

Atour Lifestyle Holdings (NASDAQ: ATAT) reported a robust financial performance for Q1 2024. As of March 31, 2024, the company operated 1,302 hotels with 148,149 rooms, reflecting a 34.5% increase in hotels and a 31.6% increase in rooms year-over-year. Net revenues surged by 89.7% year-over-year to RMB1,468 million (US$203 million). Net income skyrocketed by 1326.0% to RMB258 million (US$36 million).

Adjusted net income rose 63.4% to RMB261 million (US$36 million), while EBITDA increased by 291.3% to RMB351 million (US$49 million). The retail sector saw a 268.9% revenue increase to RMB417 million (US$58 million). However, revenues from leased hotels fell by 10.3% to RMB168 million (US$23 million).

Operating costs and expenses rose to RMB1,154 million (US$160 million). Selling and marketing expenses increased to RMB175 million (US$24 million), and general and administrative expenses fell to RMB77 million (US$11 million). Overall, the company achieved significant growth, notwithstanding a decrease in leased hotel revenues and increased operating costs.

Atour Lifestyle Holdings (NASDAQ: ATAT), a leading hospitality and lifestyle company in China, released its 2023 Environmental, Social, and Governance (ESG) report on May 23, 2024.

This report highlights Atour's achievements in environmental initiatives, social responsibility, and corporate governance. The company emphasizes its dedication to ethical business governance, human-centered experiences, employee benefits, community engagement, and sustainable practices. Atour's ongoing efforts reflect its commitment to transparency and responsibility in the hospitality industry.

For more information and to download the full ESG report, visit: https://ir.yaduo.com/about-us/esg.

Atour Lifestyle Holdings , a leading hospitality and lifestyle company in China, will report its unaudited financial results for the first quarter of 2024 on May 23, 2024. The Company will host a conference call on the same day to discuss the results. Participants can join via webcast or telephone. Details for the conference call are provided below.