基于零售业务的积极发展预期，亚朵集团上调2025全年收入指引至同比增长30%。 本文为IPO早知道原创 作者｜ Stone Jin 微信公众号｜ipozaozhidao 财报显示 ， 亚朵集团 第二季度 营收 24.69亿元（人民币，下同），同比增长37.4%；调整后净利 润4.27亿元，同比增长30.2 %；调整后EBITDA 6.1亿元，同比增长37.7%。 据 IPO早知道消息， 亚朵集团（ NASDAQ:ATAT） 于 8月26日 发布 了 2025年 第二季度业绩报 告 。 在高端市场，面对用户持续升级的需求，萨和酒店基于 "隐逸东方"的品牌调性，打造了具有情感连 接的服务体验。在睡眠、疗愈、养生等多个维度打造的深度体验场景，实现了从功能满足到情绪认同 的跃升。 在中端市场，亚朵集团继续将轻居品牌作为战略重点，持续投入核心资源。轻居 3.3作为轻居3系全 新迭代的版本，通过对设计风格、功能模块与经营模型的系统优化，契合年轻用户与投资人的双重需 求，在市场中形成了差异化的竞争表现。 此外， 亚朵零售业务延续了强劲增长， GMV同比增长84.6% 至 11.44亿元 。 618购物节期间， 零售GMV达 ...

Core Viewpoint - Atour Group (NASDAQ: ATAT) is expected to achieve a revenue growth of 25%-30% year-on-year in 2025, driven by strong performance in both its hotel and retail businesses [2][13]. Financial Performance - In Q1 2025, Atour Group reported a revenue of 1.906 billion RMB, representing a year-on-year increase of 29.8% [5]. - The adjusted net profit for the same period was 345 million RMB, up 32.3% year-on-year [5]. - Adjusted EBITDA reached 474 million RMB, reflecting a growth of 33.8% compared to the previous year [5]. Operational Highlights - During Q1, Atour opened 121 new hotels, marking a 24.7% increase year-on-year, bringing the total number of hotels to 1,727 with 194,559 rooms [7]. - The company has a pipeline of 755 projects, progressing towards its strategic goal of "Chinese Experience, 2,000 Great Hotels" [7]. - Key operational metrics included an average revenue per available room (RevPAR) of 304 RMB, a daily average room rate (ADR) of 418 RMB, and an occupancy rate (OCC) of 70.2% [7]. Product Development - Atour accelerated its product matrix optimization by launching the "Atour 3.6" and "Light Stay 3.3" products, enhancing the accommodation experience [8]. - The "Atour 3.6" product aims to set a new benchmark for mid-to-high-end business travel with a design philosophy of "coexistence with nature" [8]. - The "Light Stay 3.3" product is positioned as a key driver for achieving the brand's goal of 1,000 stores [8]. Retail Business Growth - Atour's retail business generated a GMV of 845 million RMB in Q1, a significant year-on-year increase of 70.9%, with over 90% of sales coming from online channels [10]. - The launch of the Atour Planet Deep Sleep Temperature Control Mattress Pro 2.0 achieved sales leadership on platforms like Tmall and Douyin within its first month [11]. - As of March 31, 2025, Atour's registered membership exceeded 96 million, a growth of 35.4% year-on-year [11]. Future Outlook - The company has raised its full-year revenue guidance based on strong retail performance and stable growth expectations [13]. - Atour plans to distribute approximately $58 million in dividends in 2025 and has announced a share repurchase plan totaling up to $400 million over three years [13].

Core Insights - Atar Group reported Q1 2025 revenue of 1.906 billion yuan, a year-on-year increase of 29.8% [2] - Adjusted net profit for the same period was 345 million yuan, up 32.3% year-on-year [2] - The company raised its full-year revenue guidance, expecting a growth of 25% to 30% for 2025 [2] Financial Performance - Q1 adjusted EBITDA reached 474 million yuan, reflecting a 33.8% year-on-year growth [2] - The total number of hotels operated by Atar Group reached 1,727, with 194,559 rooms [2] - The company opened 121 new hotels in Q1, a 24.7% increase compared to the previous year [2] Shareholder Returns - Atar Group announced a total dividend payout of approximately 58 million USD for 2025 [2] - A three-year share repurchase plan was also announced, with a total buyback amount not exceeding 400 million USD [2] Retail Business Growth - The retail business GMV for Q1 was 845 million yuan, a significant year-on-year increase of 70.9% [3] - Online channels accounted for over 90% of the retail sales [3] - The registered member count surpassed 96 million, marking a 35.4% year-on-year growth [3] Product Development - The company launched new products "Atar 3.6" and "Light Stay 3.3" to enhance the accommodation experience [3] - A one-stop renewal solution "Atar 3.5SE" was introduced to further tap into growth potential in the accommodation sector [2][3] Strategic Vision - The CEO emphasized the commitment to the "Chinese Experience" strategy, aiming to enhance brand and product strength [3] - The focus is on deepening the integration of accommodation and retail businesses to provide superior customer experiences [3]