SHANGHAI, April 3,
2024 /PRNewswire/ -- Atour Lifestyle Holdings Limited
(NASDAQ: ATAT), a leading hospitality and lifestyle company in
China, reported robust growth in
2023 fueled by a rebound in domestic travel and its focus on
experience-led offerings.
The company announced on its unaudited financial results on
March 28,2024 for the fourth quarter
and full year ended December 31,
2023.
Net revenues for full year 2023 increased by 106.2%
year-over-year to RMB4,666 million
(US$657 million), compared with
RMB2,263 million for full year 2022.
For full year 2023, adjusted net income (non-GAAP) was RMB903 million (US$127
million), representing an increase of 248.3% year-over-year
compared with RMB259 million for full
year 2022.
Atour, a trailblazer in the "lifestyle hotel" category,
prioritizes delivering tailored, high-quality experiences for
diverse consumers and scenarios. This commitment has earned it the
trust and preference of both consumers and partners alike.
"We are pleased to deliver strong full-year results for 2023, as
well as significant progress towards our goal to operate a
nationwide network of 2,000 premier hotels by 2025 and establish
the 'Chinese Experience' as the industry benchmark," said
Mr. Haijun Wang, Founder, Chairman and CEO of Atour.
Beyond an uptake in financial figures, Atour also saw major
business metrics rise rapidly in 2023.
In 2023, the average revenue per available room (RevPAR) and
average daily rate (ADR) of Atour hotels have both exceeded the
levels for the same period in 2019, reaching RMB377 and RMB464,
up 44% and 19% year-over-year respectively. The occupancy rate
(OCC) for full year 2023, which stood at 77.8%, has recovered to
106.0% of 2019's level.
Atour logged 576 new hotel signings in 2023, further bolstering
its iconic "Chinese Experience, 2,000 Premier Hotels" strategy,
whereby the hotel chain looks to operate 2,000 hotels by 2025.
As of December 31, 2023, Atour had
1,210 hotels in operation across its network, representing a
year-on-year growth of 29.8%. Concurrently, there were 617
manachised hotels under development in its pipeline.
In 2023, the domestic tourism market in China continued to regain its vigor. Data from
the Ministry of Culture and Tourism shows that domestic travelers
made 4.89 billion trips throughout the year, up 93.3% year on year,
while tourist spending totaled RMB4.91
trillion, a staggering 140.3% increase over the previous
year.
Amid the post-pandemic recovery, the tourism market is reverting
to pre-pandemic levels, fueling a surge in demand for personalized
experiences as well as an upgrade within the hospitality
sector.
Atour has led this transformation, capitalizing on its
advantages in product innovation, operations, and
digitalization.
In line with its differentiation strategy , Atour introduced
Atour Light 3.0 in February 2023, a midscale offering that not only
meets consumers' desire for quality accommodations and unique
experiences, but also demonstrates its exceptional value
proposition compared to similar brands in the industry.
Since its launch, Atour Light 3.0
has garnered 27 new hotel signings in the fourth quarter of 2023,
with 25 already in operation. Strategically located in central
business districts of second-tier cities and above, these hotels
enhance Atour's accessibility to China's young business travelers and
vacationers.
Additionally, the introduction of Atour 4.0 "With Nature", a
flagship upper midscale hotel brand, underscores the company's
multi-brand, experience-centric approach. Atour 4.0 caters to both
travelers and leisure vacationers, offering combined leisure and
business facilities. Since its debut in November 2023, the first batch of hotel signings
have been completed in major domestic cities and business
districts, with the first establishment scheduled to open in the
first half of 2024.
To attract and retain members, Atour has enhanced its A-CARD
membership system with additional high-value benefits, appealing
particularly to younger demographics. These benefits span retail,
dining, culture, arts, and sports, complementing the existing
loyalty program. As of December 31,
2023, the number of registered members has surpassed 63
million, up 78% year-over-year.
In broadening its product and market scope, Atour intents on
exploring new opportunities in the retail sector. Drawing insights
from guest feedback, it has introduced a line of
deep-sleep-inspired amenities.
This scenario-based retail business generated RMB1.14 billion in GMV for full year 2023,
marking a 298.3% year-over-year increase. Among the merchandise,
cumulative sales of Atour's best-selling Deep Sleep Pillow PRO
hit 1.2 million units, while consumers snapped up more than 100,000
Deep Sleep Temperature Control Quilts.
The spike in sales underscores Atour's ability to meet real user
needs, enabling it to expand its competitive edge in the mid- to
high-end price segments.
From sleep-related products to other categories, its innovative
approach has supplied the hospitality industry with a recipe for
success.
Atour's digital capabilities underpin a seamless
online-to-offline shopping experience, enhancing user satisfaction
and unlocking greater potential for business growth. This
integrated model promises to drive the company's long-term
development, as the hotel and retail businesses tend to strengthen
each other.
Looking ahead to the 11th year since its founding, Atour remains
committed to enhancing its "Chinese Experience, 2,000 Premier
Hotels" strategy and delivering more lifestyle innovations to
customers. It also looks to collaborate with partners to push the
boundaries in China's hospitality
industry and celebrate success together.
About Atour Lifestyle Holdings Limited
Atour Lifestyle Holdings Limited (NASDAQ: ATAT) is a leading
hospitality and lifestyle company in China, with a distinct portfolio of lifestyle
hotel brands. Atour is the leading upper midscale hotel chain in
China and is the first Chinese
hotel chain to develop a scenario-based retail business. Atour is
committed to bringing innovations to China's hospitality industry and building new
lifestyle brands around hotel offerings.
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SOURCE Atour Lifestyle Holdings Limited