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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 reported strong Q3 2024 financial results with net revenues increasing 46.7% year-over-year to RMB1,899 million (US$271 million). The company's hotel network expanded to 1,533 hotels with 175,199 rooms, representing increases of 37.9% and 36.1% year-over-year respectively. Net income grew 45.3% to RMB381 million (US$54 million). The company's retail business showed significant growth with GMV increasing 107.7% to RMB566 million. RevPAR was RMB380, compared to RMB424 in Q3 2023. The company expects full-year 2024 total net revenues to increase by 48% to 52% compared with 2023.
Atour Lifestyle Holdings (NASDAQ: ATAT), a leading hospitality and lifestyle company in China, has announced it will release its unaudited financial results for the third quarter 2024 on Tuesday, November 19, 2024, before U.S. markets open. The company will host a conference call at 7:00 AM U.S. Eastern time (8:00 PM Beijing/Hong Kong time) on the same day. A live webcast will be available on the company's investor relations website, with a replay available after the session.
Atour Lifestyle Holdings (NASDAQ: ATAT), a leading hospitality company in China, has announced a three-year annual dividend policy. The company plans to distribute at least 50% of its net income as dividends each year for the next three years. For the current year, Atour has declared a cash dividend of US$0.15 per ordinary share (US$0.45 per ADS), totaling approximately US$62 million.
The dividend will be paid on or around September 30, 2024, to shareholders of record as of September 17, 2024. As of June 30, 2024, Atour had about RMB3.3 billion (US$457 million) in cash and equivalents. This policy aims to enhance shareholder value, with the exact dividend amount to be determined based on the company's financial position and performance.
Atour Lifestyle Holdings (NASDAQ: ATAT) reported strong Q2 2024 financial results. Net revenues increased 64.5% year-over-year to RMB1,797 million (US$247 million). Net income rose 27.1% to RMB304 million (US$42 million). The company's hotel network expanded to 1,412 hotels with 161,686 rooms, representing year-over-year increases of 36.6% and 34.3% respectively. Retail business GMV grew 157.6% to RMB620 million. Despite a slight decline in RevPAR due to high base effects, occupancy rates remained solid at 78.4%. The company maintains a positive outlook, expecting full-year 2024 net revenues to increase by 48% to 52% compared to 2023.
Atour Lifestyle Holdings (NASDAQ: ATAT), a leading hospitality and lifestyle company in China, has announced it will report its unaudited financial results for the second quarter 2024 on Thursday, August 29, 2024, before the U.S. markets open. The company will host a conference call at 7:00 AM U.S. Eastern time (7:00 PM Beijing/Hong Kong time) on the same day. Investors can access a live webcast of the conference call on Atour's investor relations website at https://ir.yaduo.com, with a replay available after the session. For those wishing to join via telephone, pre-registration is required using the provided link.
Atour Lifestyle Holdings (NASDAQ: ATAT) announced significant changes in its upper management. Mr. Hong Lu has resigned from his position as a director as of July 3, 2024, but will continue serving as the senior vice president. The Board has appointed Mr. Jianfeng Wu, Co-Chief Financial Officer and Executive Vice President, as a new director effective immediately. Mr. Wu, who oversees several key business areas, brings extensive experience from his previous roles at CMB International Capital and UBS Securities. Additionally, Atour has eliminated the Co-Chief Operating Officer position, meaning Mr. Xun Zhang and Mr. Gang Chen will no longer serve in this capacity but will retain key roles within the company.
Atour Lifestyle Holdings (NASDAQ: ATAT), a prominent hospitality and lifestyle company in China, has announced the pricing of a registered secondary offering of 10 million American Depositary Shares (ADS) by Legend Capital, at US$16.90 per ADS. Each ADS represents three Class A ordinary shares. The offering could raise approximately US$169 million for Legend Capital, excluding underwriting discounts and commissions. The underwriters have a 30-day option to purchase an additional 1.5 million ADSs. Atour will not receive any proceeds from this sale. Post-offering, Legend Capital's ownership will reduce to about 7.6%. Additionally, Hongbin Zhou, a company director appointed by Legend Capital, will resign upon completion of the offering.
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.
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