Indicate by check mark whether the registrant files
or will file annual reports under cover of Form 20-F or Form 40-F:
Pursuant to the requirements
of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto
duly authorized.
Exhibit 99.1
Atour Lifestyle Holdings Limited Reports Third Quarter 2026 Unaudited
Financial Results
| · | A total of 2,288 hotels, or 254,800 hotel
rooms, in operation as of September 30, 2026. |
| · | Net revenues for the third quarter of 2026
increased by 30.5% year-over-year to RMB3,429 million (US$511 million). |
| · | Net income for the third quarter of 2026 decreased
by 5.5% year-over-year to RMB448 million (US$67 million). |
| · | Adjusted
net income (non-GAAP)1 for the third quarter of 2026 increased by 26.2% year-over-year to RMB615 million (US$92 million). |
| · | EBITDA (non-GAAP)2 for
the third quarter of 2026 increased by 6.6% year-over-year to RMB716 million (US$107 million). |
| · | Adjusted EBITDA (non-GAAP)3
for the third quarter of 2026 increased by 28.8% year-over-year to RMB883 million (US$132 million). |
SHANGHAI, China, November 10, 2026 -- Atour
Lifestyle Holdings Limited (“Atour” or the “Company”) (NASDAQ: ATAT), a leading lifestyle group in China, today
announced its unaudited financial results for the third quarter ended September 30, 2026.
Third Quarter of 2026 Highlights
As of September 30, 2026, there were 2,288
hotels with a total of 254,800 hotel rooms in operation across Atour’s hotel network, representing increases of 17.5% and 16.2%
year-over-year in terms of the number of hotels and hotel rooms, respectively. As of September 30, 2026, there were 778 manachised
hotels under development in our pipeline.
The average daily room rate4 (“ADR”)
was RMB453 for the third quarter of 2026, compared with RMB447 for the same period of 2025 and RMB438 for the previous quarter.
The occupancy rate4 was 79.7% for the
third quarter of 2026, compared with 80.2% for the same period of 2025 and 76.2% for the previous quarter.
The revenue per available room4 (“RevPAR”)
was RMB373 for the third quarter of 2026, compared with RMB371 for the same period of 2025 and RMB345 for the previous quarter.
1
Adjusted net income (non-GAAP) is defined as net income excluding share-based compensation expenses.
2
EBITDA (non-GAAP) is defined as earnings before interest expense, interest income, income tax expense and depreciation and amortization.
3
Adjusted EBITDA (non-GAAP) is defined as EBITDA excluding share-based compensation expenses.
4
Excludes hotel rooms that became unavailable due to temporary hotel closures. ADR and RevPAR are calculated based on tax-inclusive
room rates.
“ADR” refers to the average daily
room rate, which means room revenue divided by the number of rooms in use for a given period;
“Occupancy rate” refers to the
number of rooms in use divided by the number of available rooms for a given period;
“RevPAR” refers to revenue per
available room, which is calculated by total revenues during a period divided by the number of available rooms of our hotels during the
same period.
The revenue generated from our retail business
was RMB1,362 million for the third quarter of 2026, representing an increase of 61.0% year-over-year.
“In the third quarter of 2026, both our
hotel and retail businesses sustained strong momentum,” said Mr. Haijun Wang, Founder, Chairman and CEO of Atour. “For
the hotel business, guided by our ‘quality-first’ principle, we steadily expanded our high-quality hotel network, reaching
2,288 hotels in operation by the end of the quarter. By further refining the positioning and product features of our diverse brands, we
are able to offer hotel guests a richer and more varied accommodation experience. For the retail business, Atour Planet maintained rapid
growth, generating approximately RMB1.36 billion in retail revenue in the quarter, up more than 60% year-over-year. Our core categories
continued to strengthen, and strategic categories achieved further breakthroughs. The deepening of our systemic capabilities has laid
a solid foundation for the healthy growth of our retail business.”
“Looking ahead, we will continue to advance
our ‘Chinese Experience, Brand-Led Excellence’ strategy, further strengthening our experience advantage, connecting with users
through our brands and embedding innovation into every aspect of our hotel and retail operations. We strive to be a warm and lasting companion
to our users, driving the Group's long-term, high-quality and steady development,” concluded Mr. Wang.
Third Quarter of 2026 Unaudited Financial Results
| (RMB in thousands) | |
Q3 2025 | | |
Q3 2026 | |
| Revenues: | |
| | | |
| | |
| Manachised hotels | |
| 1,560,266 | | |
| 1,878,117 | |
| Leased hotels | |
| 164,158 | | |
| 133,648 | |
| Retail | |
| 846,337 | | |
| 1,362,217 | |
| Others | |
| 57,209 | | |
| 55,339 | |
| Net revenues | |
| 2,627,970 | | |
| 3,429,321 | |
Net revenues. Our net revenues for the
third quarter of 2026 increased by 30.5% to RMB3,429 million (US$511 million) from RMB2,628 million for the same period of 2025. The increase
was mainly driven by growth in the manachised hotel and retail businesses.
| · | Manachised hotels. Revenues from our manachised hotels for the third quarter of 2026 increased
by 20.4% to RMB1,878 million (US$280 million) from RMB1,560 million for the same period of 2025. The increase was primarily driven by
our ongoing hotel network expansion and supply chain business development. The total number of our manachised hotels increased from 1,924
as of September 30, 2025 to 2,271 as of September 30, 2026. |
| · | Leased hotels. Revenues from our leased hotels for the
third quarter of 2026 decreased by 18.6% to RMB134 million (US$20 million) from RMB164 million for the same period of 2025. The decrease
was primarily due to the decrease in the number of leased hotels as a result of our product mix optimization and we mainly rely on the
manachise model to drive a scalable, asset-light expansion of our hotel network. The total number of our leased hotels decreased from
24 as of September 30, 2025 to 17 as of September 30, 2026. |
| · | Retail. Revenues from retail for the third quarter of 2026 increased by 61.0% to RMB1,362 million
(US$203 million) from RMB846 million for the same period of 2025. The increase was driven by growing recognition of our retail brands
and effective product innovation and development as we successfully broadened our product offerings. |
| · | Others. Revenues from others for the third quarter of 2026 decreased by 3.3% to RMB55 million (US$8
million) from RMB57 million for the same period of 2025. |
| (RMB in thousands) | |
Q3 2025 | | |
Q3 2026 | |
| Operating costs and expenses: | |
| | | |
| | |
| Hotel operating costs | |
| (1,081,694 | ) | |
| (1,248,398 | ) |
| Retail costs | |
| (400,144 | ) | |
| (652,695 | ) |
| Other operating costs | |
| (7,726 | ) | |
| (5,657 | ) |
| Selling and marketing expenses | |
| (354,722 | ) | |
| (528,904 | ) |
| General and administrative expenses | |
| (100,451 | ) | |
| (263,214 | ) |
| Technology and development expenses | |
| (44,447 | ) | |
| (67,614 | ) |
| Total operating costs and expenses | |
| (1,989,184 | ) | |
| (2,766,482 | ) |
Operating costs and expenses
for the third quarter of 2026 were RMB2,766 million (US$413 million), including RMB167 million share-based compensation expenses,
compared with RMB1,989 million, including RMB13 million share-based compensation expenses for the same period of 2025.
| · | Hotel operating costs for the third quarter of 2026 were RMB1,248 million (US$186 million), compared
with RMB1,082 million for the same period of 2025. The increase was mainly due to the increase in variable costs, such as supply chain
costs and hotel manager costs, associated with our ongoing hotel network expansion. Hotel operating costs accounted for 62.1% of manachised
and leased hotels’ revenues for the third quarter of 2026, compared with 62.7% for the same period of 2025. |
| · | Retail costs for the third quarter of 2026 were RMB653 million (US$97 million), compared with RMB400
million for the same period of 2025. The increase was associated with the rapid growth of our retail business. Retail costs accounted
for 47.9% of retail revenues for the third quarter of 2026, compared with 47.3% for the same period of 2025. |
| · | Other operating costs for the third quarter of 2026 were RMB6 million (US$0.8 million), compared
with RMB8 million for the same period of 2025. |
| · | Selling and marketing expenses for the third quarter of 2026 were RMB529 million (US$79 million),
compared with RMB355 million for the same period of 2025. The increase was mainly due to our enhanced investment in branding and the effective
development of online channels, aligned with the growth of our retail business. Selling and marketing expenses accounted for 15.4% of
net revenues for the third quarter of 2026, compared with 13.5% for the same period of 2025. |
| · | General and administrative expenses for the third quarter of 2026 were RMB263 million (US$39 million),
including RMB138 million share-based compensation expenses, compared with RMB100 million, including RMB10 million share-based compensation
expenses for the same period of 2025. Excluding the share-based compensation expenses, the increase was primarily due to an increase in
labor costs. General and administrative expenses, excluding share-based compensation expenses, accounted for 3.7% of net revenues for
the third quarter of 2026, compared with 3.4% for the same period of 2025. |
| · | Technology and development expenses for the third quarter of 2026 were RMB68 million (US$10 million),
compared with RMB44 million for the same period of 2025. The increase was mainly attributable to our increased investments in technology
systems and infrastructure to support our expanding hotel network and retail business, and to improve customer experience. Technology
and development expenses accounted for 2.0% of net revenues for the third quarter of 2026, compared with 1.7% for the same period of 2025. |
Other operating income, net for the third
quarter of 2026 was RMB1.3 million (US$0.2 million), compared with RMB13 million for the same period of 2025. The decrease was mainly
due to a decrease in income from government subsidies.
Income from
operations for the third quarter of 2026 was RMB664 million (US$99 million), compared with RMB651 million for the same period of 2025.
Income tax expense for the third quarter
of 2026 was RMB264 million (US$39 million), compared with RMB201 million for the same period of 2025.
Net income for the third quarter of 2026
was RMB448 million (US$67 million), representing a decrease of 5.5% compared with RMB474 million for the same period of 2025.
Adjusted net income (non-GAAP) for the
third quarter of 2026 was RMB615 million (US$92 million), representing an increase of 26.2% compared with RMB488 million for the same
period of 2025.
Basic and diluted income per share/American
depositary share (ADS). For the third quarter of 2026, basic income per share was RMB1.11 (US$0.17), and diluted income per share
was RMB1.10 (US$0.16). For the third quarter of 2026, basic income per ADS was RMB3.33 (US$0.51), and diluted income per ADS was RMB3.30
(US$0.48).
EBITDA (non-GAAP) for the third quarter
of 2026 was RMB716 million (US$107 million), representing an increase of 6.6% compared with RMB672 million for the same period of 2025.
Adjusted EBITDA (non-GAAP) for the third
quarter of 2026 was RMB883 million (US$132 million), representing an increase of 28.8% compared with RMB685 million for the same period
of 2025.
Cash flows. Operating cash inflow for the
third quarter of 2026 was RMB604 million (US$90 million). Investing cash outflow for the third quarter of 2026 was RMB1,703 million (US$254
million). Financing cash outflow for the third quarter of 2026 was RMB72 million (US$11 million), which was mainly attributable to stock
repurchases.
Cash and cash equivalents and restricted cash.
As of September 30, 2026, the Company had a total balance of cash and cash equivalents and restricted cash of RMB2.8 billion
(US$413 million).
Debt financing. As of September 30,
2026, the Company had total outstanding borrowings of RMB237 million (US$35 million).
Outlook
For the full year of 2026, the Company currently
expects total net revenues to increase by 33% to 35% compared with the full year of 2025.
This outlook is based on current market conditions
and the Company’s preliminary estimates, which are subject to changes.
Conference Call
The Company will host a conference call at 7:00
AM U.S. Eastern time on Tuesday, November 10, 2026 (or 8:00 PM Beijing/Hong Kong time on the same day).
A live webcast of the conference call will be
available on the Company’s investor relations website at https://ir.yaduo.com, and a replay of the webcast will be available following
the session.
For participants who wish to join the conference
call via telephone, please pre-register using the link provided below. Upon registration, each participant will receive a set of participant
dial-in numbers and a personal PIN to join the conference call.
Details for the conference call are as follows:
Event Title: Atour Third Quarter of 2026 Earnings
Conference Call
Pre-registration Link: https://register-conf.media-server.com/register/BI09497037ec5f48ecae605c71dac1b26b
Use of Non-GAAP Financial Measures
To supplement the Company’s unaudited consolidated
financial results presented in accordance with U.S. Generally-Accepted Accounting Principles (“GAAP”), the Company uses the
following non-GAAP measures defined as non-GAAP financial measures by the U.S. Securities and Exchange Commission: adjusted net income,
which is defined as net income excluding share-based compensation expenses; adjusted net income per ordinary share - Diluted, which is
defined as net income attributable to the Company excluding share-based compensation expenses divided by the number of weighted average
ordinary shares used in calculating net income per ordinary share - Diluted; EBITDA, which is defined as earnings before interest income,
interest expense, income tax expense and depreciation and amortization; adjusted EBITDA, which is defined as EBITDA excluding share-based
compensation expenses. The presentation of these non-GAAP financial measures is not intended to be considered in isolation or as a substitute
for the financial information prepared and presented in accordance with U.S. GAAP. For more information on these non-GAAP financial measures,
please see the table captioned “Reconciliations of GAAP and non-GAAP results” set forth at the end of this release.
The Company believes that EBITDA is widely used
by other companies in the hospitality industry and may be used by investors as a measure of the financial performance. Given the significant
investments that the Company has made in leasehold improvements and other fixed assets of leased hotels, depreciation and amortization
comprises a significant portion of the Company’s cost structure. The Company believes that EBITDA will provide investors with a
useful tool for comparability between periods because it eliminates depreciation and amortization attributable to capital expenditures.
Adjusted net income, adjusted net income per ordinary share – Diluted, and adjusted EBITDA provide meaningful supplemental information
regarding the Company’s performance by excluding share-based compensation expenses, as the investors can better understand the Company’s
performance and compare business trends among different reporting periods on a consistent basis. The Company believes that both management
and investors benefit from referring to these non-GAAP financial measures in assessing the Company’s performance and when planning
and forecasting future periods. These non-GAAP financial measures also facilitate management’s internal comparisons to the Company’s
historical performance. The Company believes these non-GAAP financial measures are also useful to investors in allowing for greater transparency
with respect to supplemental information used regularly by Company management in financial and operational decision-making. The accompanying
tables provide more details on the reconciliations between GAAP financial measures that are most directly comparable to non-GAAP financial
measures.
The use of these non-GAAP measures has certain
limitations, as the excluded items have been and will be incurred, and are not reflected in the presentation of these non-GAAP measures.
Each of these items should also be considered in the overall evaluation of the results. The Company compensates for these limitations
by providing the disclosure of the relevant items both in its reconciliations to the U.S. GAAP financial measures and in its consolidated
financial statements, all of which should be considered when evaluating the performance of the Company.
In addition, these measures may not be comparable
to similarly titled measures utilized by other companies, as these companies may not calculate these measures in the same manner as the
Company does.
About Atour Lifestyle Holdings Limited
Atour Lifestyle Holdings Limited (NASDAQ: ATAT)
is a leading lifestyle group in China that operates both hospitality and retail businesses. As a leader in quality living, Atour is dedicated
to creating an intimate ambiance where people can warmly connect. Guided by its people-serving philosophy, Atour continuously refines
its products and services to curate exceptional experiences for every user.
For more information, please visit https://ir.yaduo.com.
Investor Relations Contact
Atour Lifestyle Holdings Limited
Email: ir@yaduo.com
Christensen Advisory
Email: atour@christensencomms.com
Tel: +86-10-5900-1548
—Financial Tables and Operational Data Follow—
| ATOUR LIFESTYLE HOLDINGS LIMITED |
| UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS |
| (All amounts in thousands, except share data and per share data, or otherwise noted) |
| | |
| | |
| | |
| |
| | |
As of | | |
As of | |
| | |
December 31, | | |
September 30, | |
| | |
2025 | | |
2026 | |
| | |
RMB | | |
RMB | | |
USD1 | |
| Assets | |
| | | |
| | | |
| | |
| Current assets | |
| | | |
| | | |
| | |
| Cash and cash equivalents | |
| 3,303,949 | | |
| 2,747,126 | | |
| 409,744 | |
| Short-term investments | |
| 2,562,745 | | |
| 3,509,560 | | |
| 523,463 | |
| Accounts receivable | |
| 341,446 | | |
| 348,742 | | |
| 52,016 | |
| Prepayments and other current assets | |
| 675,974 | | |
| 705,548 | | |
| 105,235 | |
| Amounts due from related parties | |
| 192,289 | | |
| 225,616 | | |
| 33,651 | |
| Inventories | |
| 278,802 | | |
| 265,042 | | |
| 39,532 | |
| Total current assets | |
| 7,355,205 | | |
| 7,801,634 | | |
| 1,163,641 | |
| Non-current assets | |
| | | |
| | | |
| | |
| Restricted cash | |
| 16,223 | | |
| 21,732 | | |
| 3,241 | |
| Contract costs | |
| 134,268 | | |
| 139,845 | | |
| 20,858 | |
| Property and equipment, net | |
| 225,603 | | |
| 187,748 | | |
| 28,003 | |
| Operating lease right-of-use assets | |
| 1,108,548 | | |
| 819,676 | | |
| 122,258 | |
| Intangible assets, net | |
| 4,712 | | |
| 3,802 | | |
| 567 | |
| Goodwill | |
| 17,446 | | |
| 17,446 | | |
| 2,602 | |
| Other assets | |
| 51,905 | | |
| 45,236 | | |
| 6,747 | |
| Deferred tax assets | |
| 253,596 | | |
| 236,160 | | |
| 35,224 | |
| Total non-current assets | |
| 1,812,301 | | |
| 1,471,645 | | |
| 219,500 | |
| Total assets | |
| 9,167,506 | | |
| 9,273,279 | | |
| 1,383,141 | |
| | |
| | | |
| | | |
| | |
| Liabilities and shareholders’ equity | |
| | | |
| | | |
| | |
| Current liabilities | |
| | | |
| | | |
| | |
| Operating lease liabilities, current | |
| 230,201 | | |
| 260,255 | | |
| 38,818 | |
| Accounts payable | |
| 821,997 | | |
| 1,043,977 | | |
| 155,713 | |
| Deferred revenue, current | |
| 701,147 | | |
| 501,953 | | |
| 74,868 | |
| Salary and welfare payable | |
| 316,562 | | |
| 347,711 | | |
| 51,862 | |
| Accrued expenses and other payables | |
| 1,090,394 | | |
| 1,094,235 | | |
| 163,209 | |
| Income taxes payable | |
| 312,302 | | |
| 306,585 | | |
| 45,728 | |
| Short-term borrowings | |
| 250,000 | | |
| 235,000 | | |
| 35,051 | |
| Amounts due to related parties | |
| 2,886 | | |
| 2,256 | | |
| 336 | |
| Total current liabilities | |
| 3,725,489 | | |
| 3,791,972 | | |
| 565,585 | |
| Non-current liabilities | |
| | | |
| | | |
| | |
| Operating lease liabilities, non-current | |
| 1,042,719 | | |
| 722,752 | | |
| 107,801 | |
| Deferred revenue, non-current | |
| 526,439 | | |
| 546,448 | | |
| 81,505 | |
| Long-term borrowings, non-current portion | |
| 2,000 | | |
| 2,000 | | |
| 298 | |
| Other non-current liabilities | |
| 290,058 | | |
| 310,212 | | |
| 46,269 | |
| Total non-current liabilities | |
| 1,861,216 | | |
| 1,581,412 | | |
| 235,873 | |
| Total liabilities | |
| 5,586,705 | | |
| 5,373,384 | | |
| 801,458 | |
1 Translations
of balances in the consolidated financial statements from RMB into US$ for the third quarter of 2026 and as of September 30, 2026 are
solely for readers’ convenience and were calculated at the rate of US$1.00=RMB 6.7045, representing the exchange rate set forth
in the H.10 statistical release of the Federal Reserve Board on September 30, 2026.
| ATOUR LIFESTYLE HOLDINGS LIMITED |
| UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (CONTINUED) |
| (All amounts in thousands, except share data and per share data, or otherwise noted) |
| | |
| | |
| | |
| |
| | |
As of | | |
As of | |
| | |
December 31, | | |
September 30, | |
| | |
2025 | | |
2026 | |
| | |
RMB | | |
RMB | | |
USD1 | |
| Shareholders’ equity | |
| | | |
| | | |
| | |
| Class A ordinary shares | |
| 246 | | |
| 238 | | |
| 35 | |
| Class B ordinary shares | |
| 56 | | |
| 56 | | |
| 8 | |
| Treasury shares | |
| (326,400 | ) | |
| (108,232 | ) | |
| (16,143 | ) |
| Additional paid in capital | |
| 1,758,365 | | |
| 929,743 | | |
| 138,674 | |
| Retained earnings | |
| 2,195,519 | | |
| 3,163,220 | | |
| 471,806 | |
| Accumulated other comprehensive loss | |
| (34,307 | ) | |
| (72,605 | ) | |
| (10,829 | ) |
| Total equity attributable to shareholders of the Company | |
| 3,593,479 | | |
| 3,912,420 | | |
| 583,551 | |
| Non-controlling interests | |
| (12,678 | ) | |
| (12,525 | ) | |
| (1,868 | ) |
| Total shareholders’ equity | |
| 3,580,801 | | |
| 3,899,895 | | |
| 581,683 | |
| Commitments and contingencies | |
| - | | |
| - | | |
| - | |
| Total liabilities and shareholders’ equity | |
| 9,167,506 | | |
| 9,273,279 | | |
| 1,383,141 | |
| ATOUR LIFESTYLE HOLDINGS LIMITED |
| UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME |
| (All amounts in thousands, except share data and per share data, or otherwise noted) |
| | |
| | |
| | |
| | |
| | |
| | |
| |
| | |
Three Months Ended | | |
Nine Months Ended | |
| | |
September 30, | | |
September 30, | | |
September 30, | | |
September 30, | |
| | |
2025 | | |
2026 | | |
2025 | | |
2026 | |
| | |
RMB | | |
RMB | | |
USD1 | | |
RMB | | |
RMB | | |
USD1 | |
| Revenues: | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| Manachised hotels | |
| 1,560,266 | | |
| 1,878,117 | | |
| 280,128 | | |
| 3,891,643 | | |
| 5,171,534 | | |
| 771,353 | |
| Leased hotels | |
| 164,158 | | |
| 133,648 | | |
| 19,934 | | |
| 442,318 | | |
| 383,855 | | |
| 57,253 | |
| Retail | |
| 846,337 | | |
| 1,362,217 | | |
| 203,180 | | |
| 2,504,965 | | |
| 4,007,938 | | |
| 597,798 | |
| Others | |
| 57,209 | | |
| 55,339 | | |
| 8,253 | | |
| 163,407 | | |
| 167,582 | | |
| 24,996 | |
| Net revenues | |
| 2,627,970 | | |
| 3,429,321 | | |
| 511,495 | | |
| 7,002,333 | | |
| 9,730,909 | | |
| 1,451,400 | |
| Operating costs and expenses: | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| Hotel operating costs | |
| (1,081,694 | ) | |
| (1,248,398 | ) | |
| (186,203 | ) | |
| (2,711,070 | ) | |
| (3,582,814 | ) | |
| (534,389 | ) |
| Retail costs | |
| (400,144 | ) | |
| (652,695 | ) | |
| (97,352 | ) | |
| (1,188,112 | ) | |
| (1,925,090 | ) | |
| (287,134 | ) |
| Other operating costs | |
| (7,726 | ) | |
| (5,657 | ) | |
| (844 | ) | |
| (21,947 | ) | |
| (15,313 | ) | |
| (2,285 | ) |
| Selling and marketing expenses | |
| (354,722 | ) | |
| (528,904 | ) | |
| (78,888 | ) | |
| (1,030,466 | ) | |
| (1,536,013 | ) | |
| (229,102 | ) |
| General and administrative expenses | |
| (100,451 | ) | |
| (263,214 | ) | |
| (39,259 | ) | |
| (351,810 | ) | |
| (533,015 | ) | |
| (79,501 | ) |
| Technology and development expenses | |
| (44,447 | ) | |
| (67,614 | ) | |
| (10,085 | ) | |
| (126,402 | ) | |
| (174,863 | ) | |
| (26,081 | ) |
| Total operating costs and expenses | |
| (1,989,184 | ) | |
| (2,766,482 | ) | |
| (412,631 | ) | |
| (5,429,807 | ) | |
| (7,767,108 | ) | |
| (1,158,492 | ) |
| Other operating income, net | |
| 12,670 | | |
| 1,342 | | |
| 200 | | |
| 30,393 | | |
| 136,588 | | |
| 20,373 | |
| Income from operations | |
| 651,456 | | |
| 664,181 | | |
| 99,064 | | |
| 1,602,919 | | |
| 2,100,389 | | |
| 313,281 | |
| Interest income | |
| 18,595 | | |
| 9,972 | | |
| 1,487 | | |
| 60,312 | | |
| 27,857 | | |
| 4,155 | |
| Gain from short-term investments | |
| 13,015 | | |
| 12,296 | | |
| 1,834 | | |
| 31,540 | | |
| 35,799 | | |
| 5,340 | |
| Interest expense | |
| (477 | ) | |
| (1,721 | ) | |
| (257 | ) | |
| (1,872 | ) | |
| (4,981 | ) | |
| (743 | ) |
| Other (expenses) income, net | |
| (6,900 | ) | |
| 27,449 | | |
| 4,096 | | |
| (22,800 | ) | |
| 38,341 | | |
| 5,718 | |
| Income before income tax | |
| 675,689 | | |
| 712,177 | | |
| 106,224 | | |
| 1,670,099 | | |
| 2,197,405 | | |
| 327,751 | |
| Income tax expense | |
| (201,299 | ) | |
| (263,706 | ) | |
| (39,333 | ) | |
| (527,281 | ) | |
| (737,523 | ) | |
| (110,004 | ) |
| Net income | |
| 474,390 | | |
| 448,471 | | |
| 66,891 | | |
| 1,142,818 | | |
| 1,459,882 | | |
| 217,747 | |
| Less: net income (loss) attributable to non-controlling interests | |
| 670 | | |
| (187 | ) | |
| (28 | ) | |
| 2,164 | | |
| 153 | | |
| 23 | |
| Net income attributable to the Company | |
| 473,720 | | |
| 448,658 | | |
| 66,919 | | |
| 1,140,654 | | |
| 1,459,729 | | |
| 217,724 | |
| | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| Net income | |
| 474,390 | | |
| 448,471 | | |
| 66,891 | | |
| 1,142,818 | | |
| 1,459,882 | | |
| 217,747 | |
| Other comprehensive loss | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| Foreign currency translation adjustments, net of nil income taxes | |
| (5,018 | ) | |
| (12,788 | ) | |
| (1,907 | ) | |
| (29,772 | ) | |
| (38,298 | ) | |
| (5,712 | ) |
| Other comprehensive loss, net of nil income taxes | |
| (5,018 | ) | |
| (12,788 | ) | |
| (1,907 | ) | |
| (29,772 | ) | |
| (38,298 | ) | |
| (5,712 | ) |
| Total comprehensive income | |
| 469,372 | | |
| 435,683 | | |
| 64,984 | | |
| 1,113,046 | | |
| 1,421,584 | | |
| 212,035 | |
| Less: Comprehensive income (loss) attributable to non-controlling interests | |
| 670 | | |
| (187 | ) | |
| (28 | ) | |
| 2,164 | | |
| 153 | | |
| 23 | |
| Comprehensive income attributable to the Company | |
| 468,702 | | |
| 435,870 | | |
| 65,012 | | |
| 1,110,882 | | |
| 1,421,431 | | |
| 212,012 | |
| Net income per ordinary share | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| —Basic | |
| 1.14 | | |
| 1.11 | | |
| 0.17 | | |
| 2.74 | | |
| 3.58 | | |
| 0.53 | |
| —Diluted | |
| 1.13 | | |
| 1.10 | | |
| 0.16 | | |
| 2.72 | | |
| 3.54 | | |
| 0.53 | |
| Weighted average ordinary shares used in calculating net income per ordinary share | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| —Basic | |
| 416,249,869 | | |
| 405,244,407 | | |
| 405,244,407 | | |
| 415,735,035 | | |
| 407,772,546 | | |
| 407,772,546 | |
| —Diluted | |
| 420,259,104 | | |
| 409,404,982 | | |
| 409,404,982 | | |
| 419,755,975 | | |
| 411,862,865 | | |
| 411,862,865 | |
| ATOUR LIFESTYLE HOLDINGS LIMITED |
| UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS |
| (All amounts in thousands, except share data and per share data, or otherwise noted) |
| | |
| | |
| | |
| | |
| | |
| | |
| |
| | |
Three Months Ended | | |
Nine Months Ended | |
| | |
September 30, | | |
September 30, | | |
September 30, | | |
September 30, | |
| | |
2025 | | |
2026 | | |
2025 | | |
2026 | |
| | |
RMB | | |
RMB | | |
USD1 | | |
RMB | | |
RMB | | |
USD1 | |
| Cash flows from operating activities: | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| Net cash generated from operating activities | |
| 630,839 | | |
| 604,046 | | |
| 90,098 | | |
| 1,399,310 | | |
| 1,731,598 | | |
| 258,274 | |
| Cash flows from investing activities: | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| Payment for purchases of property and equipment | |
| (25,828 | ) | |
| (2,681 | ) | |
| (400 | ) | |
| (74,099 | ) | |
| (12,988 | ) | |
| (1,937 | ) |
| Proceeds from disposal of property and equipment | |
| 255 | | |
| 783 | | |
| 117 | | |
| 4,995 | | |
| 783 | | |
| 117 | |
| Payment for purchases of intangible assets | |
| (27 | ) | |
| (560 | ) | |
| (84 | ) | |
| (254 | ) | |
| (2,350 | ) | |
| (351 | ) |
| Payment for purchases of short-term investments | |
| (4,088,000 | ) | |
| (6,413,000 | ) | |
| (956,522 | ) | |
| (10,905,000 | ) | |
| (16,152,460 | ) | |
| (2,409,197 | ) |
| Proceeds from maturities of short-term investments | |
| 3,523,264 | | |
| 4,712,928 | | |
| 702,950 | | |
| 9,135,630 | | |
| 15,241,444 | | |
| 2,273,316 | |
| Net cash used in investing activities | |
| (590,336 | ) | |
| (1,702,530 | ) | |
| (253,939 | ) | |
| (1,838,728 | ) | |
| (925,571 | ) | |
| (138,052 | ) |
| Cash flows from financing activities: | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| Proceeds from borrowings | |
| - | | |
| - | | |
| - | | |
| 35,000 | | |
| 15,000 | | |
| 2,237 | |
| Repayment of borrowings | |
| - | | |
| - | | |
| - | | |
| (30,000 | ) | |
| (30,000 | ) | |
| (4,475 | ) |
| Proceeds from stock option exercises | |
| 5,416 | | |
| 4,453 | | |
| 664 | | |
| 18,747 | | |
| 9,818 | | |
| 1,464 | |
| Payment for dividends | |
| - | | |
| - | | |
| - | | |
| (418,188 | ) | |
| (492,028 | ) | |
| (73,388 | ) |
| Payment for share repurchases | |
| (85,310 | ) | |
| (67,398 | ) | |
| (10,053 | ) | |
| (85,310 | ) | |
| (820,457 | ) | |
| (122,374 | ) |
| Others | |
| - | | |
| (9,368 | ) | |
| (1,397 | ) | |
| - | | |
| (14,751 | ) | |
| (2,199 | ) |
| Net cash used in financing activities | |
| (79,894 | ) | |
| (72,313 | ) | |
| (10,786 | ) | |
| (479,751 | ) | |
| (1,332,418 | ) | |
| (198,735 | ) |
| Effect of exchange rate changes on cash and cash equivalents and restricted cash | |
| (5,760 | ) | |
| (7,910 | ) | |
| (1,181 | ) | |
| (28,837 | ) | |
| (24,923 | ) | |
| (3,717 | ) |
| Net decrease in cash and cash equivalents and restricted cash | |
| (45,151 | ) | |
| (1,178,707 | ) | |
| (175,808 | ) | |
| (948,006 | ) | |
| (551,314 | ) | |
| (82,230 | ) |
| Cash and cash equivalents and restricted cash at the beginning of the period | |
| 2,716,775 | | |
| 3,947,565 | | |
| 588,793 | | |
| 3,619,630 | | |
| 3,320,172 | | |
| 495,215 | |
| Cash and cash equivalents and restricted cash at the end of the period | |
| 2,671,624 | | |
| 2,768,858 | | |
| 412,985 | | |
| 2,671,624 | | |
| 2,768,858 | | |
| 412,985 | |
| ATOUR LIFESTYLE HOLDINGS LIMITED |
| UNAUDITED RECONCILIATION OF GAAP AND NON-GAAP RESULTS |
| (All amounts in thousands, except share data and per share data, or otherwise noted) |
| | |
| | |
| | |
| | |
| | |
| | |
| |
| | |
Three Months Ended | | |
Nine Months Ended | |
| | |
September 30, | | |
September 30, | | |
September 30, | | |
September 30, | |
| | |
2025 | | |
2026 | | |
2025 | | |
2026 | |
| | |
RMB | | |
RMB | | |
USD1 | | |
RMB | | |
RMB | | |
USD1 | |
| Net income (GAAP) | |
| 474,390 | | |
| 448,471 | | |
| 66,891 | | |
| 1,142,818 | | |
| 1,459,882 | | |
| 217,747 | |
| Share-based compensation expenses, net of tax effect of nil2 | |
| 13,314 | | |
| 166,889 | | |
| 24,892 | | |
| 116,701 | | |
| 203,674 | | |
| 30,378 | |
| Adjusted net income (non-GAAP) | |
| 487,704 | | |
| 615,360 | | |
| 91,783 | | |
| 1,259,519 | | |
| 1,663,556 | | |
| 248,125 | |
| | |
Three Months Ended | | |
Nine Months Ended | |
| | |
September 30, | | |
September 30, | | |
September 30, | | |
September 30, | |
| | |
2025 | | |
2026 | | |
2025 | | |
2026 | |
| | |
RMB | | |
RMB | | |
USD1 | | |
RMB | | |
RMB | | |
USD1 | |
| Net income per ordinary share - Diluted (GAAP) | |
| 1.13 | | |
| 1.10 | | |
| 0.16 | | |
| 2.72 | | |
| 3.54 | | |
| 0.53 | |
| Share-based compensation expenses, net of tax effect of nil per ordinary share2 | |
| 0.03 | | |
| 0.41 | | |
| 0.06 | | |
| 0.28 | | |
| 0.50 | | |
| 0.07 | |
| Adjusted net income per ordinary share - Diluted (non-GAAP) | |
| 1.16 | | |
| 1.51 | | |
| 0.22 | | |
| 3.00 | | |
| 4.04 | | |
| 0.60 | |
| | |
Three Months Ended | | |
Nine Months Ended | |
| | |
September 30, | | |
September 30, | | |
September 30, | | |
September 30, | |
| | |
2025 | | |
2026 | | |
2025 | | |
2026 | |
| | |
RMB | | |
RMB | | |
USD1 | | |
RMB | | |
RMB | | |
USD1 | |
| Net income (GAAP) | |
| 474,390 | | |
| 448,471 | | |
| 66,891 | | |
| 1,142,818 | | |
| 1,459,882 | | |
| 217,747 | |
| Interest income | |
| (18,595 | ) | |
| (9,972 | ) | |
| (1,487 | ) | |
| (60,312 | ) | |
| (27,857 | ) | |
| (4,155 | ) |
| Interest expense | |
| 477 | | |
| 1,721 | | |
| 257 | | |
| 1,872 | | |
| 4,981 | | |
| 743 | |
| Income tax expense | |
| 201,299 | | |
| 263,706 | | |
| 39,333 | | |
| 527,281 | | |
| 737,523 | | |
| 110,004 | |
| Depreciation and amortization | |
| 14,321 | | |
| 12,045 | | |
| 1,796 | | |
| 40,317 | | |
| 41,137 | | |
| 6,136 | |
| EBITDA (non-GAAP) | |
| 671,892 | | |
| 715,971 | | |
| 106,790 | | |
| 1,651,976 | | |
| 2,215,666 | | |
| 330,475 | |
| Share-based compensation expenses | |
| 13,314 | | |
| 166,889 | | |
| 24,892 | | |
| 116,701 | | |
| 203,674 | | |
| 30,378 | |
| Adjusted EBITDA (non-GAAP) | |
| 685,206 | | |
| 882,860 | | |
| 131,682 | | |
| 1,768,677 | | |
| 2,419,340 | | |
| 360,853 | |
2
The share-based compensation expenses were recorded at entities in PRC. Share-based compensation expenses were non-deductible
expenses in PRC. Therefore, there is no tax impact for share-based compensation expenses adjustment for non-GAAP financial measures.
Key Operating Data
| | |
Number of Hotels | | |
Number of Rooms | |
| | |
Opened in Q3 2026 | | |
Closed in Q3 2026 | | |
As of September 30, 2026 | | |
As of September 30, 2026 | |
| Manachised hotels | |
| 128 | | |
| 13 | | |
| 2,271 | | |
| 251,963 | |
| Leased hotels | |
| - | | |
| 2 | | |
| 17 | | |
| 2,837 | |
| Total | |
| 128 | | |
| 15 | | |
| 2,288 | | |
| 254,800 | |
| | |
| |
As of September 30, 2026 | |
| | | | |
Properties | |
|
Rooms | |
| Hotel Brand | | Positioning | | |
Manachised | |
|
Leased | | |
| |
| A.T. House | |
Luxury | |
| - | | |
| 1 | | |
| 214 | |
| SAVHE | |
Upscale | |
| 2 | | |
| 1 | | |
| 487 | |
| Atour S | |
Upscale | |
| 97 | | |
| 1 | | |
| 13,396 | |
| Atour Origin | |
Upper midscale | |
| 71 | | |
| 1 | | |
| 8,492 | |
| Atour | |
Upper midscale | |
| 1,696 | | |
| 12 | | |
| 192,659 | |
| Atour X | |
Upper midscale | |
| 172 | | |
| 1 | | |
| 18,316 | |
| Atour Light | |
Midscale | |
| 233 | | |
| - | | |
| 21,236 | |
| Total | |
| |
| 2,271 | | |
| 17 | | |
| 254,800 | |
| | |
All Hotels in Operation | |
| | |
Three Months
Ended | | |
Three Months
Ended | | |
Three Months
Ended | |
| | |
September 30, 2025 | | |
June 30, 2026 | | |
September 30, 2026 | |
| Occupancy rate3 (in percentage) | |
| | | |
| | | |
| | |
| Manachised hotels | |
| 80.1 | % | |
| 76.2 | % | |
| 79.7 | % |
| Leased hotels | |
| 85.0 | % | |
| 82.3 | % | |
| 83.7 | % |
| All hotels | |
| 80.2 | % | |
| 76.2 | % | |
| 79.7 | % |
| | |
| | | |
| | | |
| | |
| ADR3 (in RMB) | |
| | | |
| | | |
| | |
| Manachised hotels | |
| 444.2 | | |
| 435.6 | | |
| 450.7 | |
| Leased hotels | |
| 602.3 | | |
| 597.4 | | |
| 607.3 | |
| All hotels | |
| 447.2 | | |
| 437.9 | | |
| 452.9 | |
| | |
| | | |
| | | |
| | |
| RevPAR3 (in RMB) | |
| | | |
| | | |
| | |
| Manachised hotels | |
| 368.2 | | |
| 343.1 | | |
| 370.8 | |
| Leased hotels | |
| 541.9 | | |
| 518.1 | | |
| 534.5 | |
| All hotels | |
| 371.3 | | |
| 345.4 | | |
| 373.0 | |
| | |
Hotels in Operation for More Than 18 Months in Q3 20264 | |
| | |
Number of hotels | | |
Same-hotel Occupancy3 (in percentage) | | |
Same-hotel ADR3 (in RMB) | | |
Same-hotel RevPAR3 (in RMB) | |
| | |
Q3 2025 | | |
Q3 2026 | | |
Q3 2025 | | |
Q3 2026 | | |
Q3 2025 | | |
Q3 2026 | | |
Q3 2025 | | |
Q3 2026 | |
| Manachised hotels | |
| 1,521 | | |
| 1,521 | | |
| 81.1 | % | |
| 79.4 | % | |
| 440.8 | | |
| 431.2 | | |
| 369.7 | | |
| 354.1 | |
| Leased hotels | |
| 17 | | |
| 17 | | |
| 85.3 | % | |
| 83.7 | % | |
| 574.5 | | |
| 568.0 | | |
| 518.7 | | |
| 500.7 | |
| All hotels | |
| 1,538 | | |
| 1,538 | | |
| 81.1 | % | |
| 79.5 | % | |
| 443.1 | | |
| 433.7 | | |
| 372.2 | | |
| 356.6 | |
3
Excludes hotel rooms that became unavailable due to temporary hotel closures. ADR and RevPAR are calculated based on tax-inclusive
room rates.
4
For any given period, we define “same-hotel” as a hotel that has operated for more than 18 calendar months as of the 15th
day (inclusive) of any month within that period. The OCC, ADR and RevPAR presented above represent such metrics generated by “same
hotels” in the given period, compared to the corresponding metrics generated by these “same hotels” during the same
period in 2025.
Exhibit 99.2
Atour Lifestyle Holdings Limited Announces Cash
Dividend
SHANGHAI, Nov. 10, 2026 /GlobeNewswire/ --
Atour Lifestyle Holdings Limited (“Atour” or the “Company”) (NASDAQ: ATAT), a leading lifestyle group in China,
today announced that as part of its commitment to enhancing shareholder value, the Board of Directors (the “Board”) has declared
a cash dividend under its three-year annual dividend policy (the “Annual Dividend Policy”) adopted in August 2024.
In accordance with the Annual Dividend Policy,
as the second dividend payment in 2026, the Board today declared a cash dividend of US$0.17 per ordinary share, or US$0.51 per American
depositary share (“ADS”). Each ADS represents three Class A ordinary shares. The aggregate amount of the cash dividend
to be distributed will be approximately US$69 million. In May 2026, as the first dividend payment in 2026, the Board declared a cash
dividend with an aggregate amount of approximately US$73 million. The aggregate amount of the two dividend payments in 2026 will be approximately
US$142 million.
The second cash dividend will be payable in U.S.
dollars on or around December 9, 2026 to the holders of record of the Company’s ordinary shares (excluding certain Class A
ordinary shares previously held by The Bank of New York Mellon, as the depositary bank, for bulk issuance of ADSs reserved under the Company’s
share incentive plan) and beneficial owners of ADSs as of the close of trading on November 23, 2026 (U.S. Eastern Time). Dividends
to be paid to the Company’s ADS holders through the depositary will be subject to the terms of the deposit agreement by and among
the Company, the depositary, and the holders and beneficial owners of ADSs issued thereunder, including the fees and expenses payable
thereunder.
The Board adopted the Annual Dividend Policy in
August 2024, under which the Company plans to declare and distribute dividends with an aggregate amount of no less than 50% of its
net income for the preceding financial year in each of the three financial years commencing in 2024. Under the Annual Dividend Policy,
the exact dividend amount will be determined at the Board’s discretion based on its assessment of the Company’s actual and
projected results of operations, financial and cash position, capital requirements, and other relevant factors.
As of September 30, 2026, the Company had
approximately RMB2.8 billion (US$413 million) in cash, cash equivalents,
and restricted cash.
About Atour Lifestyle Holdings Limited
Atour Lifestyle Holdings Limited (NASDAQ: ATAT)
is a leading lifestyle group in China that operates both hospitality and retail businesses. As a leader in quality living, Atour is dedicated
to creating an intimate ambiance where people can warmly connect. Guided by its people-serving philosophy, Atour continuously refines
its products and services to curate exceptional experiences for every user.
For more information, please visit https://ir.yaduo.com.
Investor Relations Contact
Atour Lifestyle Holdings Limited
Email: ir@yaduo.com
Christensen Advisory
Email: atour@christensencomms.com
Tel: +86-10-5900-1548
