Atour Lifestyle, a Chinese hotel chain listed on Nasdaq, said its revenue for the first quarter this year rose more than 70% to RMB 774 million (USD 113 million), and net income was RMB 18 million (USD 3 million), compared with RMB 7 million for the same period of 2022.
Mr. Haijun Wang, Founder, Chairman and CEO of Atour, said that both hotel and scenario-based retail businesses delivered remarkable results.
Retail and related incomes accounted for 18% of Atour's total revenue in the quarter.
As of March 31, 2023, there were 968 hotels with a total of 112,564 hotel rooms in operation across Atour’s hotel network, representing a rapid increase of 23.3% year-over-year in both hotels and rooms. As of March 31, 2023, there were 413 manachised hotels under development in pipeline.
The average daily room rate (“ADR”) was RMB 443 for the first quarter of 2023, compared with RMB 375 for the first quarter of 2022 and RMB 388 for the previous quarter. The ADR for the first quarter of 2023 had recovered to 107.3% of 2019’s level for the same period.
The occupancy rate was 72.5% for the first quarter of 2023, compared with 50.0% for the first quarter of 2022 and 63.1% for the previous quarter. The occupancy rate for the first quarter of 2023 had recovered to 109.5% of 2019’s level for the same period.
The revenue per available room (“RevPAR”) was RMB 337 for the first quarter of 2023, compared with RMB 199 for the first quarter of 2022 and RMB 259 for the previous quarter. The RevPAR for the first quarter of 2023 had recovered to 118.3% of 2019’s level for the same period.
