Core Insights - Atour Group (NASDAQ: ATAT) reported Q2 2025 revenue of 2.469 billion RMB, a year-on-year increase of 37.4% [2] - Adjusted net profit for the quarter was 427 million RMB, reflecting a 30.2% year-on-year growth [2] - Adjusted EBITDA reached 610 million RMB, up 37.7% compared to the previous year [2] Business Performance - The number of registered members reached 102 million, marking a 34.7% increase year-on-year [2] - The hotel business remained robust with 1,824 operating hotels, a 29.2% year-on-year growth [2] - The pipeline projects totaled 816, indicating ongoing expansion in the hotel sector [2] Retail Business Growth - The retail segment showed strong momentum with a GMV growth of 84.6% year-on-year in Q2 [2] - Based on the positive outlook for the retail business, Atour Group raised its full-year revenue guidance for 2025 to a 30% year-on-year increase [2]

Financial Performance - At the end of Q2 2025, the company reported revenue of 2.469 billion yuan, a year-on-year increase of 37.4% [1] - Adjusted net profit reached 427 million yuan, up 30.2% year-on-year [1] - Adjusted EBITDA was 610 million yuan, reflecting a 37.7% year-on-year growth [1] - The registered member count reached 102 million, marking a 34.7% increase year-on-year [1] Operational Metrics - The average revenue per available room (RevPAR) was 343 yuan, with an average daily rate (ADR) of 433 yuan and an occupancy rate (OCC) of 76.4% [1] - The number of operating hotels increased to 1,824, a growth of 29.2% year-on-year, with a pipeline of 816 projects [1] Market Strategy - The company has established a multi-tiered brand and product system to accurately target different market segments, creating differentiated competitive barriers [1] - The mid-to-high-end market strategy includes the collaboration of the Atour 3 and 4 series, catering to diverse consumer preferences and accommodation needs [1] - The Atour 3 series focuses on mainstream business travel scenarios, while the Atour 4 series targets the combined needs of business travel and urban vacations, with over 30 Atour 4.0 hotels already opened [1] Retail Business - In Q2, the company's GMV (Gross Merchandise Volume) reached 1.144 billion yuan, a significant year-on-year increase of 84.6% [2] - During the "618" shopping festival, GMV hit 578 million yuan, up 86.1% year-on-year, setting a new sales record for promotional events [2] - Based on the positive outlook for retail business, the company has raised its full-year revenue guidance for 2025 to a 30% year-on-year growth [2] Leadership Insights - The founder and CEO, Wang Haijun, emphasized the commitment to continuous innovation in accommodation and retail products, aiming to build competitive barriers through differentiated experiences [2]