Shanghai, April 3, 2024 /PRNewswire/ — Atour Lifestyle Holdings Limited (NASDAQ: ATAT) is one of the world's leading hospitality and lifestyle companies. Chinareported strong growth in 2023, driven by a recovery in domestic travel and a focus on experiential services.
The company announced its unaudited financial results on the 2nd. March 28, 2024 4th quarter and full year end December 31, 2023.
Full year 2023 net revenue increased 106.2% year over year; RMB 4.666 billion (USD 657 million), compared to 2,263 million RMB Adjusted net income (non-GAAP) for full year 2022 is RMB 903 million (127 million USD), representing an increase of 248.3% over the previous year. RMB 259 million All year 2022.
A pioneer in the 'lifestyle hotel' category, Atour prioritizes providing high-quality experiences tailored to diverse consumers and scenarios. This initiative has earned us the trust and support of both consumers and partners.
Mr. Haijun said: “We are pleased to have achieved strong business results for the full year 2023 and are excited about our goal of operating a nationwide network of 2,000 premier hotels by 2025 and establishing the 'Chinese Experience' as the industry benchmark. I am pleased that we have made significant progress towards this goal.” Mr. Wang, Founder, Chairman, and CEO of Atour, said:
In addition to increasing financial numbers, Atour also saw a rapid rise in key business indicators in 2023.
In 2023, Atour Hotels' average revenue per available room (RevPAR) and average daily rate (ADR) are both higher than the same period in 2019. 377 RMB and 464 RMB, increased by 44% and 19% from the previous year, respectively. The occupancy rate (OCC) for the full year of 2023 was 77.8%, but has recovered to the 2019 level of 106.0%.
Atour records 576 new hotel deals in 2023, further strengthening the company's iconic “China Experience, 2,000 Premier Hotels” strategy, with the hotel chain on track to operate 2,000 hotels by 2025 We aim to do so.
the current December 31, 2023, Atour operates 1,210 hotels across its network, showing year-over-year growth of 29.8%. At the same time, it has 617 managed hotels in its pipeline.
The domestic tourism market in 2023 will be China He continued to regain his vitality.According to data from the Ministry of Culture and Tourism, domestic tourists made 4.89 billion trips throughout the year, an increase of 93.3% from the previous year, and total tourism expenditure 4.91 trillion yuanan astonishing increase of 140.3% from the previous year.
Amid the post-pandemic recovery, the tourism market is returning to pre-pandemic levels, and demand for personalized experiences and upgrades in the hospitality sector is surging.
Atour has led this transformation with advantages in product innovation, operations, and digitalization.
In line with its differentiation strategy, Atul atour light 3.0 inch February 2023is a medium-sized product that not only satisfies consumers' desire for quality accommodation and unique experiences, but also demonstrates a superior value proposition compared to similar brands in the industry.
Since its release, atour light 3.0, 27 hotels were awarded new contracts in the fourth quarter of 2023, of which 25 are already operational. These hotels are strategically located in the central business districts of tier 2 cities and above, increasing Atour's accessibility. Chinese Young business travelers and vacationers.
Furthermore, the introduction of Atour 4.0 'With Nature', an upper midscale flagship hotel brand, highlights the company's multi-brand and experience-centric approach. Atour 4.0 caters to both tourists and leisure travelers, offering facilities that combine leisure and business. Since his debut in November 2023the first batch of hotel contracts has been completed in major cities and business districts across the country, with the first properties expected to open in the first half of 2024.
To attract and retain members, Atul has enhanced the A-CARD membership system with value-added benefits that particularly appeal to the younger demographic. These benefits span retail, food and beverage, culture, arts and sports and complement existing loyalty programs.the current December 31, 2023the number of registered members exceeded 63 million, an increase of 78% from the previous year.
In expanding its product and market reach, Atul is focused on exploring new opportunities in the retail sector. We drew insights from guest feedback and introduced a series of deep sleep-inspired amenities.
This scenario-based retail business created 1.14 billion RMB Total gross merchandise value for the full year of 2023 increased by 298.3% year-on-year. Among products, cumulative sales of Atour's best-selling Deep Sleep Pillow PRO have reached his 1.2 million units, and consumers have purchased over 100,000 of his Deep Sleep Temperature Control Quilts.
The rapid increase in sales highlighted Atour's ability to meet real user needs and enabled it to expand its competitiveness in the mid-to-high end price range.
From sleep-related products to other categories, its innovative approach has provided the hospitality industry with a recipe for success.
Atour's digital capabilities power a seamless online-to-offline shopping experience, increasing user satisfaction and unlocking significant potential for business growth. This integrated model is expected to accelerate the company's long-term development, as hotel and retail businesses tend to reinforce each other.
Looking ahead to its 11th year in business, Atour remains committed to strengthening its “China Experience, 2,000 Premier Hotels” strategy and providing more lifestyle innovations to customers. We also aim to work with partners to push the boundaries. Chinese Let's celebrate success together in the hospitality industry.
About Atul Lifestyle Holdings Limited
Atour Lifestyle Holdings Limited (NASDAQ: ATAT) is one of the world's leading hospitality and lifestyle companies. China, with a distinct portfolio of lifestyle hotel brands. Atour is a leading mid-sized and larger hotel chain. China It is the first Chinese hotel chain to develop a scenario-based retail business. Atour is committed to bringing innovation. Chinese Building a new lifestyle brand centered around the hospitality industry and hotel offering.
SOURCE Atour Lifestyle Holdings Limited