Atour Lifestyle, a Nasdaq-listed Chinese hotel group focusing on the upper-midscale segment, reported a 93.1% rise in its third-quarter net revenues.
Net income for the third quarter was RMB 262 million (USD 36 million), compared with RMB 111 million for the same period of 2022.
As of September 30, 2023, there were 1,112 hotels with a total of 128,681 hotel rooms in operation across Atour’s hotel network, representing a rapid increase of 26.4% and 25.3% year-over-year in terms of the number of hotels and hotel rooms, respectively. As of September 30, 2023, there were 577 manachised hotels under development in pipeline.
The revenue per available room (RevPAR) was RMB 424 for the third quarter, compared with RMB 321 for the third quarter of 2022 and RMB 384 for the previous quarter. The RevPAR for the third quarter of 2023 recovered to 117.8% of 2019’s level for the same period.
The occupancy rate was 82.4% for the third quarter of 2023, compared with 72.0% for the third quarter of 2022 and 77.1% for the previous quarter. The occupancy rate for the third quarter of 2023 recovered to 106.6% of 2019’s level for the same period.
Mr. Haijun Wang, Founder, Chairman and CEO of Atour, said:
“While maintaining strong momentum in hotel signings and openings, we also persisted in advancing product innovation. In November, we officially launched our new flagship product in the upper midscale segment, Atour 4.0 'With Nature.'”
