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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 (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.
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