Investment Rating - The investment rating for the company is "Add" (maintained) [1] Core Insights - The company reported a Q1 2024 revenue of 1.468 billion yuan, a year-on-year increase of 90%, and a net profit attributable to shareholders of 257 million yuan, up 1339% year-on-year [3] - The retail business exceeded expectations, leading to an upward revision of the full-year revenue guidance, with an expected year-on-year growth rate of 40% [3] - RevPAR decreased by 3% year-on-year, primarily due to price declines and a high base from 2023 [3] - The total number of stores reached 1,302, a year-on-year increase of 35%, with a total room count of 148,000, up 32% year-on-year [3] - The company is positioned in the high-end market and is expanding its presence, with the introduction of a mid-range brand expected to enhance profitability [3] Financial Summary - For 2024, the company expects net profits of 955 million yuan, with corresponding P/E ratios of 18, 13, and 11 for 2024, 2025, and 2026 respectively [3] - Revenue forecasts for 2024-2026 are 6.331 billion yuan, 7.922 billion yuan, and 9.432 billion yuan, with year-on-year growth rates of 35.7%, 25.1%, and 19.1% respectively [2][3] - The gross profit margin is projected to improve to 40.4% in 2024, with a net profit margin of 15.1% [9]

SHANGHAI, May 24, 2024 /PRNewswire/ -- May 23, Atour Lifestyle Holdings Limited (NASDAQ: ATAT), a leading hospitality and lifestyle company in China, has released its inaugural Environmental, Social, and Governance (ESG) report for 2023.The report underscores the company's sustainability efforts over the past year and reflects the steady integration of ESG principles into its day-to-day operations.In essence, Atour is committed to reducing waste and making its operations more ecologically friendly. This is ...

Financial Data and Key Metrics Changes - The company's net revenues for Q1 2024 grew by 89.7% year-over-year to RMB1,468 million, but decreased by 2.5% quarter-over-quarter [19] - Adjusted net income for Q1 2024 was RMB261 million, up by 63.4% year-over-year, with an adjusted net profit margin of 17.8%, a decrease of 2.9 percentage points year-over-year [27] - Adjusted EBITDA for Q1 2024 was RMB354 million, up by 53.1% year-over-year, with an adjusted EBITDA margin of 24.1%, a decrease of 5.8 percentage points year-over-year [27] Business Line Data and Key Metrics Changes - Hotel business RevPAR reached RMB328 in Q1 2024, representing 97.4% of the same period in 2023, with occupancy (OCC) growth at 101.1% of 2023's level [6][19] - Revenue from manachised hotels was RMB836 million, up by 87.1% year-over-year, while leased hotel revenues were RMB168 million, down by 10.3% year-over-year [20][21] - Retail business revenues reached RMB417 million, up by 268.9% year-over-year, with online sales accounting for over 90% of total GMV [11][21] Market Data and Key Metrics Changes - The number of hotels in operation increased to 1,302, a 34.5% year-over-year growth, with 97 new hotel openings in Q1 2024 [7][8] - The number of hotels under development reached 674 as of March 31, 2024, indicating strong franchisee confidence [8] Company Strategy and Development Direction - The company aims to have 2,000 premier hotels by 2025, focusing on quality alongside quantity in its expansion strategy [31] - The Atour Light 3.0 brand continues to gain traction, with 30 new signings in Q1 2024, and plans to reach about 100 operational hotels by the end of the year [44][45] - The company is committed to enhancing its ACARD membership ecosystem, integrating accommodation and retail memberships for a unified customer experience [16] Management's Comments on Operating Environment and Future Outlook - Management noted subdued recovery in business travel but sustained growth in leisure tourism, emphasizing the need to adapt to changing market conditions [5][6] - The company raised its revenue guidance for 2024 from 30% to 40% year-on-year growth, driven by strong retail performance and hotel network expansion [32] - Management expressed caution regarding RevPAR forecasts for 2024 due to uncertainties in the operating environment [37] Other Important Information - The company published its inaugural ESG report, highlighting its commitment to environmental, social, and governance practices [17] - The retail business is expected to achieve high double-digit year-over-year revenue growth for the full year, with ongoing investments in branding and channels [42] Q&A Session Summary Question: Will the company adjust the full year opening revenue and profit guidance? - Management confirmed confidence in achieving the target of 360 new hotel openings for the full year and raised revenue guidance to 40% year-on-year growth [31][32] Question: Can management share the recent blended RevPAR trend and expectations for 2024? - Management indicated Q1 RevPAR was RMB328, with expectations of pressure in Q2 due to various factors affecting performance [36][37] Question: What are the expectations for Atour's revenue and expenditures in the retail business? - Management expects high double-digit revenue growth for the retail business and stable sales expenditures for the year [42] Question: What are the opening goals for Atour Light 3.0 and updates on Atour 4.0 hotels? - Management expects about 100 Atour Light 3.0 hotels in operation by year-end and confirmed the first Atour 4.0 hotel is in preparation [44][46] Question: Are there any plans for returns to shareholders? - Management emphasized the importance of shareholder returns and indicated plans to consider dividends based on overall performance and cash position [47]

Atour Lifestyle Holdings Limited (NASDAQ: ATAT) 1Q24 Results Presentation ...

A total of 1,302 hotels, or 148,149 hotel rooms, in operation as of March 31, 2024.Net revenues for the first quarter of 2024 increased by 89.7% year-over-year to RMB1,468 million (US$203 million), compared with RMB774 million for the same period of 2023.Net income for the first quarter of 2024 increased by 1326.0% year-over-year to RMB258 million (US$36 million), compared with RMB18 million for the same period of 2023.Adjusted net income (non-GAAP)1 for the first quarter of 2024 increased by 63.4% year-ove ...

Core Insights - Atour Lifestyle Holdings Limited reported significant growth in its financial performance for the first quarter of 2024, with net revenues increasing by 89.7% year-over-year to RMB1,468 million (US$203 million) and net income soaring by 1326.0% to RMB258 million (US$36 million) [1][7][15]. Financial Performance - Net revenues for Q1 2024 reached RMB1,468 million (US$203 million), up from RMB774 million in Q1 2023, driven by growth in manachised hotels and retail businesses [7][15]. - Net income for Q1 2024 was RMB258 million (US$36 million), a substantial increase from RMB18 million in Q1 2023 [15]. - Adjusted net income (non-GAAP) for Q1 2024 was RMB261 million (US$36 million), up 63.4% from RMB160 million in Q1 2023 [15][16]. - EBITDA (non-GAAP) for Q1 2024 was RMB351 million (US$49 million), representing a 291.3% increase from RMB90 million in Q1 2023 [16]. Operational Highlights - As of March 31, 2024, Atour operated 1,302 hotels with a total of 148,149 hotel rooms, marking a year-over-year increase of 34.5% in the number of hotels and 31.6% in hotel rooms [3][5]. - The average daily room rate (ADR) for Q1 2024 was RMB430, slightly down from RMB443 in Q1 2023 [3]. - The occupancy rate for Q1 2024 was 73.3%, compared to 72.5% in Q1 2023 [3]. - Revenue per available room (RevPAR) was RMB328 for Q1 2024, down from RMB337 in Q1 2023 [3]. Retail Business Performance - The gross merchandise value (GMV) from Atour's retail business was RMB495 million for Q1 2024, representing a remarkable increase of 277.4% year-over-year [4][5]. Revenue Breakdown - Revenues from manachised hotels increased by 87.1% to RMB836 million (US$116 million) in Q1 2024 [7][8]. - Revenues from leased hotels decreased by 10.3% to RMB168 million (US$23 million) in Q1 2024, attributed to a decline in RevPAR and renovations [8]. - Retail revenues surged by 268.9% to RMB417 million (US$58 million) in Q1 2024, driven by brand recognition and improved product offerings [8]. Cost and Expenses - Total operating costs and expenses for Q1 2024 were RMB1,154 million (US$160 million), up from RMB719 million in Q1 2023 [9][10]. - Hotel operating costs for Q1 2024 were RMB662 million (US$92 million), accounting for 65.9% of revenues from manachised and leased hotels [10]. - Selling and marketing expenses increased significantly to RMB175 million (US$24 million) in Q1 2024, reflecting enhanced investment in brand recognition [12]. Cash Flow and Debt - Operating cash inflow for Q1 2024 was RMB143 million (US$20 million) [16]. - As of March 31, 2024, the company had total outstanding borrowings of RMB92 million (US$13 million) and an unutilized credit facility of RMB420 million [17].

Core Insights - Atour Lifestyle Holdings Limited has released its 2023 Environmental, Social and Governance (ESG) report, highlighting its achievements in sustainability and corporate responsibility [1] - The report emphasizes Atour's commitment to ethical governance, employee benefits, community engagement, and sustainable practices [1] Company Overview - Atour Lifestyle Holdings Limited is a leading hospitality and lifestyle company in China, recognized as the upper midscale hotel chain and the first Chinese hotel chain to develop a scenario-based retail business [3] - The company aims to innovate within China's hospitality industry and create new lifestyle brands centered around hotel offerings [3]

SHANGHAI, China, May 09, 2024 (GLOBE NEWSWIRE) -- Atour Lifestyle Holdings Limited ("Atour" or the "Company") (NASDAQ:ATAT), a leading hospitality and lifestyle company in China, today announced that it will report its unaudited financial results for the first quarter 2024 on Thursday, May 23, 2024, before the U.S. markets open. The Company will host a conference call at 7:00 AM U.S. Eastern time on Thursday, May 23, 2024 (or 7:00 PM Beijing/Hong Kong time on the same day). A live webcast of the conference ...

While I have written quite a few articles lately on shifting some of your gains into defensive stocks and safe dividend stocks, I still think that it is very important to keep some potential multibagger growth stocks in your portfolio. No one truly knows where the market is headed. We may even see the rally continue. Even if it doesn’t, some of these growth stocks are trading near bargain-basement levels and are unlikely to go down further.They could end up defying the downtrend altogether and bounce back u ...

SHANGHAI, China, April 26, 2024 (GLOBE NEWSWIRE) -- Atour Lifestyle Holdings Limited ("Atour" or the "Company") (NASDAQ:ATAT), a leading hospitality and lifestyle company in China, today announced that the Company has filed its annual report on Form 20-F for the fiscal year ended December 31, 2023 with the U.S. Securities and Exchange Commission ("SEC") on April 26, 2024. The annual report is available on the Company's investor relations website at https://ir.yaduo.com, and on the SEC's website at https://w ...