Atour Lifestyle Holdings Limited Reports Second Quarter of 2024 Unaudited Financial Results

Core Insights - Atour Lifestyle Holdings Limited reported strong financial performance for the second quarter of 2024, with net revenues increasing by 64.5% year-over-year to RMB1,797 million (US$247 million) [7][14] - The company achieved a net income of RMB304 million (US$42 million), reflecting a 27.1% increase compared to the same period in 2023 [14] - The hotel network expanded significantly, with 1,412 hotels and 161,686 rooms in operation as of June 30, 2024, marking increases of 36.6% and 34.3% year-over-year, respectively [3][5] Financial Performance - Adjusted net income (non-GAAP) for Q2 2024 rose by 31.6% year-over-year to RMB328 million (US$45 million) [14] - EBITDA (non-GAAP) increased by 25.3% year-over-year to RMB419 million (US$58 million) [15] - Adjusted EBITDA (non-GAAP) for the quarter was RMB443 million (US$61 million), up 28.6% from the previous year [15] Operational Highlights - The average daily room rate (ADR) for Q2 2024 was RMB441, down from RMB475 in Q2 2023 [3] - The occupancy rate improved to 78.4% in Q2 2024, compared to 77.1% in the same period last year [3] - Revenue per available room (RevPAR) was RMB359, a decrease from RMB384 in Q2 2023 [3] Retail Business Growth - Gross merchandise value (GMV) from the retail business surged by 157.6% year-over-year to RMB620 million in Q2 2024 [4] - Retail revenues increased by 153.6% to RMB537 million (US$74 million) compared to RMB212 million in Q2 2023 [9] Cost and Expenses - Total operating costs and expenses for Q2 2024 were RMB1,400 million (US$193 million), up from RMB816 million in Q2 2023 [10] - Hotel operating costs accounted for 64.3% of revenues from manachised and leased hotels, compared to 60.2% in the same period last year [10] Future Outlook - For the full year of 2024, the company expects total net revenues to increase by 48% to 52% compared to 2023 [17]