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.

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