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Atour Lifestyle Holdings Limited (NASDAQ: ATAT) is a leading upper-midscale hotel chain in China, distinguished by its comprehensive portfolio of lifestyle hotel brands. The company excels in delivering unique, experience-led accommodations through its manachised hotels, generating revenue from franchise and management fees, as well as the sale of hotel supplies and retail products.
Atour operates under a single segment, the Atour Group, which encompasses all its varied lines of business. With a commitment to innovation, Atour has introduced a series of products and hotel brands that cater to a wide array of customer preferences, including its flagship Atour 4.0 'With Nature' and the midscale Atour Light 3.0. These offerings have propelled Atour to become a preferred choice for both business and leisure travelers.
Financially, Atour showcased robust growth in 2023, with a 106.2% year-over-year increase in net revenues to RMB4,666 million (US$657 million). The adjusted net income soared by 248.3%, reaching RMB903 million (US$127 million). The company's revenue per available room (RevPAR) and average daily rate (ADR) have outperformed pre-pandemic levels, reflecting a strong recovery in domestic travel demand.
Atour is advancing toward its strategic goal of managing 2,000 premier hotels by 2025. As of December 31, 2023, the company operated 1,210 hotels, with an additional 617 in development. This rapid expansion aligns with the resurgence in China's domestic tourism market, which made 4.89 billion trips in 2023, boosting tourist spending significantly.
Apart from its hotel operations, Atour has ventured into scenario-based retail, generating RMB1.14 billion in GMV from its deep-sleep-inspired amenities. This retail segment complements its hospitality business, offering products like the popular Deep Sleep Pillow PRO and Deep Sleep Temperature Control Quilts, showcasing Atour's ability to address consumer needs effectively.
Atour's digital infrastructure ensures seamless online-to-offline experiences, enhancing customer satisfaction and driving long-term growth. The company's A-CARD membership program, which boasts over 63 million registered members, provides added value through benefits in retail, dining, culture, arts, and sports.
Looking ahead, Atour remains dedicated to its 'Chinese Experience, 2,000 Premier Hotels' strategy and aims to set new benchmarks in China's hospitality industry through continuous innovation and strategic partnerships.
Atour Lifestyle Holdings Limited (NASDAQ: ATAT) reported its financial results for Q4 and FY 2022, showcasing a 5.8% increase in net revenues for Q4, reaching RMB626 million (US$91 million), and a 5.4% rise for the year to RMB2,263 million (US$328 million). Despite a net loss of RMB83 million (US$12 million) in Q4, the company achieved a net income of RMB96 million (US$14 million) for the year, marking its fourth consecutive year of profitability. Adjusted net income surged by 199.8% in Q4 to RMB81 million (US$12 million) and 85.6% for the year. The hotel network expanded to 932 hotels, with plans to double this by 2025.
Atour Lifestyle Holdings Limited (NASDAQ: ATAT) is set to announce its unaudited financial results for the fourth quarter and full year of 2022 on March 30, 2023, before U.S. market opening. A conference call will take place at 8:00 AM ET on the same day, with pre-registration required through a provided link. The event will be accessible via a live webcast on the company's investor relations site. Atour is recognized as China's leading upper midscale hotel chain, with notable innovations in the hospitality industry.
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