Atour Lifestyle Holdings Limited Reports Fourth Quarter and Full Year 2024 Unaudited Financial Results

Core Viewpoint - Atour Lifestyle Holdings Limited reported strong financial results for the fourth quarter and full year of 2024, showcasing significant growth in revenues, net income, and operational metrics, driven by the expansion of its hotel network and retail business. Financial Performance - Net revenues for Q4 2024 increased by 38.5% to RMB2,084 million (US$286 million) compared to RMB1,505 million in Q4 2023 [7] - For the full year 2024, net revenues rose by 55.3$993 million) from RMB4,666 million in 2023 [7] - Net income for Q4 2024 was RMB331 million (US$45 million), a 50.5$174 million), up 72.2% from RMB739 million in 2023 [19] Operational Highlights - As of December 31, 2024, Atour operated 1,619 hotels with 183,184 rooms, marking year-over-year increases of 33.8% in hotels and 32.8% in rooms [2] - The average daily room rate (ADR) for Q4 2024 was RMB420, down from RMB438 in Q4 2023 [3] - The occupancy rate for Q4 2024 was 77.0%, slightly lower than 78.4% in Q4 2023 [4] - Revenue per available room (RevPAR) for Q4 2024 was RMB337, down from RMB358 in Q4 2023 [5] Retail Business Growth - Gross merchandise value (GMV) from retail was RMB912 million for Q4 2024, an increase of 84.5% year-over-year [5] - For the full year 2024, retail GMV surged by 127.7% to RMB2,592 million from RMB1,139 million in 2023 [5] Cost and Expense Management - Total operating costs and expenses for Q4 2024 were RMB1,701 million (US$233 million), reflecting increased costs associated with hotel network expansion [12] - Selling and marketing expenses for Q4 2024 rose to RMB355 million (US$49 million), up from RMB207 million in Q4 2023, driven by enhanced brand investment [14] Future Outlook - The company anticipates a 25% increase in total net revenues for the full year 2025 compared to 2024 [28]