Atour Lifestyle Holdings (NASDAQ:ATAT), a prominent hospitality and lifestyle company in China, has announced its unaudited financial results for the fourth quarter and full year ending December 31, 2024, showcasing significant growth across key metrics.
The company reported a substantial increase in net revenues, with fourth-quarter revenues rising by 38.5% to RMB2,084 million (US$286 million), up from RMB1,505 million in the same period of 2023.
For the full year, net revenues surged by 55.3% to RMB7,248 million (US$993 million), compared to RMB4,666 million in 2023.
Net income also saw robust growth. Fourth-quarter net income increased by 50.5% to RMB331 million (US$45 million), while full-year net income jumped by 72.2% to RMB1,273 million (US$174 million).
Adjusted EBITDA (non-GAAP) demonstrated strong performance, with a 76.5% increase in the fourth quarter to RMB443 million (US$61 million) and a 46.8% increase for the full year to RMB1,772 million (US$243 million).
Atour's retail business also experienced significant expansion, with Gross Merchandise Volume (GMV) increasing by 84.5% to RMB912 million in the fourth quarter and by 127.7% to RMB2,592 million for the full year.
While the Average Daily Room Rate (ADR) saw a slight decrease to RMB420 in the fourth quarter and RMB437 for the full year, the company's occupancy rate remained relatively stable at 77.0% for the fourth quarter and 77.4% for the full year.
Atour's hotel network continued to expand rapidly, with 1,619 hotels and 183,184 hotel rooms in operation as of December 31, 2024, representing year-over-year increases of 33.8% and 32.8%, respectively.
The company also reported 741 manachised hotels in its development pipeline.
Looking ahead, Atour projects total net revenues to increase by 25% for the full year of 2025, indicating continued confidence in its growth trajectory.