Atour Lifestyle Holdings reported strong Q2 2024 results with net revenues increasing 64.5% YoY to RMB1.8 billion ($247 million). Net income rose 27.1% YoY to RMB304 million ($42 million), while adjusted EBITDA grew 28.6% to RMB443 million. The company's hotel network expanded to 1,412 hotels with 161,686 rooms, representing YoY increases of 36.6% and 34.3% respectively.Revenue growth was primarily driven by a 63.9% increase in manachised hotel revenue to RMB1.03 billion and a 153.6% surge in retail revenue to RMB537 million. The retail business showed strong momentum with GMV up 157.6% YoY to RMB620 million. However, RevPAR declined to RMB359 from RMB384 in Q2 2023, while occupancy rate remained stable at 78.4%.Looking ahead, Atour expects full-year 2024 total net revenues to increase by 48-52% compared to 2023. The company maintains its goal of reaching 2,000 premier hotels nationwide by 2025, supported by 712 manachised hotels currently under development in the pipeline.

Atour Lifestyle Holdings reported strong Q2 2024 results with net revenues increasing 64.5% YoY to RMB1.8 billion ($247 million). Net income rose 27.1% YoY to RMB304 million ($42 million), while adjusted EBITDA grew 28.6% to RMB443 million. The company's hotel network expanded to 1,412 hotels with 161,686 rooms, representing YoY increases of 36.6% and 34.3% respectively.Revenue growth was primarily driven by a 63.9% increase in manachised hotel revenue to RMB1.03 billion and a 153.6% surge in retail revenue to RMB537 million. The retail business showed strong momentum with GMV up 157.6% YoY to RMB620 million. However, RevPAR declined to RMB359 from RMB384 in Q2 2023, while occupancy rate remained stable at 78.4%.Looking ahead, Atour expects full-year 2024 total net revenues to increase by 48-52% compared to 2023. The company maintains its goal of reaching 2,000 premier hotels nationwide by 2025, supported by 712 manachised hotels currently under development in the pipeline.