The following is a summary of the Atour Lifestyle Holdings Limited (ATAT) Q4 2023 Earnings Call Transcript:
Financial Performance:
Atour Lifestyle reported a net revenue of RMB1,505 million for Q4 2023, showing a growth of 140.4% year-over-year.
Growth also marked the full year of 2023 with revenue increasing by 106.2% to RMB4,666 million.
Particularly notable was the revenue from franchised hotels that grew by 98.8% due to network expansion and RevPAR increase.
Significant growth was experienced by the retail business, with the full year GMV touching RMB 1.14 billion, approximately three times the previous year's figure.
Q4 saw an increase in adjusted net income by 175.8% year-over-year reaching RMB222 million.
As of end-2023, the company held RMB2.8 billion in cash and equivalents.
Business Progress:
A total of 289 new hotels were opened by Atour Lifestyle in 2023, with an additional 576 projects signed, supporting their goal of 2,000 premier hotels by 2025.
For 2024, their strategy includes focusing on organization, management, operations, and providing versatile services to customers.
Innovations underway include the Atour Light 3.0 and Atour 4.0 hotel brands that cater to different markets.
Their prime member base grew significantly in Q4 2023 with an increase of 78% year-over-year.
The company placed emphasis on their retail business, particularly the successful 'Deep Sleep' products.
They anticipate steady growth in business travel and popularity of experience-driven leisure tourism for 2024.
The retail segment experienced strong growth with full year revenue accounting for 20.8% of total revenue. Their target for 2024 is a growth of over 50% to reach RMB1.45 billion.
Plans are in place to utilize cash for rewarding shareholders, including potential dividend payouts and share buybacks.
More details: Atour Lifestyle Holdings IR
Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.