浦银国际研究 公司研究 | 消费行业 亚朵集团（ATAT.US）：逆势加速扩张， 股东回报计划着力提振信心 浦银国际 公司研究 亚朵集团 2Q24 录得收入人民币 18 亿元，同比增长 64.5%，略高于我 们的预期。公司收入的快速增长得益于加盟门店数量以及零售业务收 入的快速扩张。公司也上调公司全年开店和收入指引，并推出 3 年股 东回报计划，彰显了公司对于全年业绩的确定性，也提振了股东信心。 我们维持亚朵集团"买入"评级，上调目标价至 24.0 美元。 单季开店数量创新高，上调收入和开店指引：截至 2Q24 末，亚朵集 团在营门店数量达到 1,412 家。2Q24 共新开 123 家门店，是上市以 来新开门店最多的季度，助力亚朵完成 2025 年门店数量达到 2000 家的目标。同时公司上调 2024 年全年开店指引至 400 家（原为 360 家），并上调公司收入目标至同比增长 48%-52%（原为 40%）。上调 开店和收入指引反映了在竞争加剧的市场中，亚朵的品牌力和产品 力受到加盟商的认可，也彰显了管理层对业绩达成和公司运营成效 的信心。 高基数令运营数据承压：由于 2023 年疫情管控措施的放开， ...

事件 8 月 29 日公司公告 2Q24 业绩，实现营收 18.0 亿元/+64.5%，净利 润 3.04 亿元/+27.1%，经调整净利 3.28 亿元/+31.6%，EBITDA 4.19 亿元/+25.3%，经调整 EBITDA 4.43 亿元/+28.6% 点评 RevPAR 同比高基数上升，OCC 优先策略效果较好。Q2 公司 RevPAR 359 元/-6.5%（前值-2.6%）、为 19 年同期的 107%，同店 RevPAR 同 比-3.8%（前值-0.3%），降幅扩大主因同比基数上升，但 OCC 优先 策略下入住率仍略有提升，同店仍好于整体；拆分看 OCC 78.4%/+1.3pct、为 19 年同期的 118%，ADR 441 元/-7.2%、为 19 年同期的 107%。Q2 末注册会员 7600 万/+73%，企业协议销售间夜 占比 19.3%/+0.9pct，公司继续夯实在中高端商旅市场领导地位。 Q2 加盟店收入+63.9%/直营店收入-17.9%，加盟酒店收入增速较高 除源于门店加速扩张外，还得益于集采比例提升、供应链收入增 长，直营店下滑主因关店。 新开维持高位，上调全年目标至 ...

证券研究报告·海外公司点评·酒店餐饮 亚朵（ATAT） 2024Q2 业绩点评：Q2 业绩超预期，上调全 年营收和开店指引 2024 年 08 月 30 日 增持（维持） | --- | --- | --- | --- | --- | --- | |-------------------------------|--------|-----------------------------------------------|-------|-------|-------| | [ 盈利预测与估值 Table_EPS] | 2022A | 2023A | 2024E | 2025E | 2026E | | 营业总收入（百万元） | | 2,262.98 4,665.97 6,970.69 8,800.30 10,347.52 | | | | | 同比（ % ） | 5.4% | 106.2% | 49.4% | 26.2% | 17.6% | | 归母净利润（百万元） | | 98.10 737.14 1,171.27 1,512.14 1,807.27 | | | | | 同比（ % ） | -32.4% | ...

NASDAQ: ATAT Atour Lifestyle Holdings Limited 2Q24 Results Presentation August 2024 Disclaimer 免责声明 This presentation has been prepared by Atour Lifestyle Holdings Limited (the "Company") solely for informational purposes and has not been independently verified. No representations, warranties or undertakings, express or implied, are made by the Company or any of its affiliates, advisers or representatives as to, and no reliance should be placed upon, the accuracy, fairness, completeness or correctness of th ...

Atour Lifestyle Holdings Limited (NASDAQ:ATAT) Q2 2024 Earnings Conference Call August 29, 2024 7:00 AM ET Company Participants Alison Zhang - Director, IR Haijun Wang - Founder, Chairman & CEO Jianfeng Wu - Co-CFO Conference Call Participants Dan Chee - Morgan Stanley Xin Chen - UBS Sijie Lin - CICC Ronald Leung - Bank of America Liu Ji Wei - CITIC Lydia Ling - Citi Operator Ladies and gentlemen, thank you for standing by, and welcome to the Atour Lifestyle Holdings Second Quarter 2024 Earnings Conference ...

Exhibit 99.1 Atour Lifestyle Holdings Limited Reports Second Quarter of 2024 Unaudited Financial Results · A total of 1,412 hotels, or 161,686 hotel rooms, in operation as of June 30, 2024. · Net revenues for the second quarter of 2024 increased by 64.5% year-over-year to RMB1,797 million (US$247 million), compared with RMB1,093 million for the same period of 2023. · Net income for the second quarter of 2024 increased by 27.1% year-over-year to RMB304 million (US$42 million), compared with RMB239 million fo ...

SHANGHAI, Aug. 29, 2024 (GLOBE NEWSWIRE) -- Atour Lifestyle Holdings Limited (“Atour” or the “Company”) (NASDAQ: ATAT), a leading hospitality and lifestyle company in China, today announced that, as a part of the Company’s ongoing efforts to enhance shareholder value, its Board of Directors (the “Board”) has approved a three-year annual dividend policy (the “Annual Dividend Policy”). Under the Annual Dividend Policy, the Company plans to declare and distribute dividends with an aggregate amount of no less t ...

A total of 1,412 hotels, or 161,686 hotel rooms, in operation as of June 30, 2024.Net revenues for the second quarter of 2024 increased by 64.5% year-over-year to RMB1,797 million (US$247 million), compared with RMB1,093 million for the same period of 2023. Net income for the second quarter of 2024 increased by 27.1% year-over-year to RMB304 million (US$42 million), compared with RMB239 million for the same period of 2023. Adjusted net income (non-GAAP)1 for the second quarter of 2024 increased by 31.6% yea ...

SHANGHAI, Aug. 13, 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 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 on Thursday, August 29, 2024 (or 7:00 PM Beijing/Hong Kong time on the same day). A live webcast of the conferenc ...

SHANGHAI, China, June 12, 2024 (GLOBE NEWSWIRE) -- Atour Lifestyle Holdings Limited ("Atour" or the "Company") (NASDAQ:ATAT), a leading hospitality and lifestyle company in China, today announced the pricing of a registered secondary underwritten offering by entities affiliated with Legend Capital ("Legend Capital") of an aggregate of 10,000,000 American depositary shares (the "ADSs" and such offering, the "Secondary Offering"), each ADS representing three Class A ordinary shares of par value US$0.0001 each ...