The following is a summary of the Atour Lifestyle Holdings Limited (ATAT) Q3 2024 Earnings Call Transcript:
Financial Performance:
Atour Lifestyle Holdings Limited reported a significant revenue growth of 46.7% year-over-year, amounting to RMB 1,899 million for the third quarter of 2024.
Net revenues from the manachised hotel segment rose by 51.0% year-over-year to RMB 1,179 million, directly influenced by increased RevPAR and expansion of hotel networks.
Retail business revenue reached RMB 408 million, marking a 104% increase from the previous year, fueled by effective product innovation and brand recognition.Adjusted net income for the quarter was RMB 384 million, representing a 41.2% increase year-over-year.
Business Progress:
Atour experienced robust hotel network expansion with 140 new hotel openings in Q3, increasing the total to 1,533 hotels.
Continued strength in the retail sector, with the launch of new products like the Deep Sleep Memory Foam Pillow Pro 2.0, which sold over 800,000 units since July.
Enhancements in the membership ecosystem, with a unified membership system across hotels and retail, aided by improvements to the Atour Mini Program to enhance user experience.
Opportunities:
Strong growth in RevPAR and membership numbers, underpinned by robust demand in both the hotel and retail segments, offers significant opportunities for revenue and market expansion.
Launch of upscale lifestyle brand SAVHE Hotel, aiming to rejuvenate the upscale hotel market with a fusion of modern design and traditional aesthetics, represents an opportunity to capture premium market segments.
Risks:
The ongoing need to stabilize OCC and manage RevPAR amidst challenges such as the high base effect and pressure from structural changes in tourism and accommodation trends.
Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.
