Core Viewpoint Atour Lifestyle Holdings Limited reported strong financial and operational performance for the third quarter of 2024, with significant year-over-year increases in revenues, net income, and hotel network expansion, indicating robust growth in both its hotel and retail segments. Financial Performance - Net revenues for Q3 2024 increased by 46.7% year-over-year to RMB1,899 million (US271million)fromRMB1,294millioninQ32023[9][22]−NetincomeforQ32024roseby45.354 million), compared to RMB262 million in Q3 2023 [22] - Adjusted net income (non-GAAP) for Q3 2024 increased by 41.2% year-over-year to RMB384 million (US55million)fromRMB272millioninQ32023[23]−EBITDA(non−GAAP)forQ32024grewby42.975 million) compared to RMB370 million in Q3 2023 [24] - Adjusted EBITDA (non-GAAP) for Q3 2024 increased by 40.0% year-over-year to RMB532 million (US76million)fromRMB380millioninQ32023[25]OperationalHighlights−AsofSeptember30,2024,Atouroperated1,533hotelswithatotalof175,199hotelrooms,representingincreasesof37.968 million) from RMB235 million in Q3 2023 [12] Cost and Expense Analysis - Total operating costs and expenses for Q3 2024 were RMB1,442 million (US205million),upfromRMB959millioninQ32023[14]−HoteloperatingcostsforQ32024wereRMB876million(US125 million), compared to RMB617 million in Q3 2023 [15] - Selling and marketing expenses for Q3 2024 were RMB218 million (US$31 million), up from RMB112 million in Q3 2023 [18] Outlook - For the full year of 2024, the company expects total net revenues to increase by 48% to 52% compared to full-year 2023 [28]
Atour Lifestyle (ATAT) GlobeNewswire News Room·2024-11-19 10:00