Chinese lifestyle hotel company Atour said its net revenues more than doubled in 2023 to RMB 4,666 million (USD 657 million).
Net income for the year increased by 669.2% year-over-year to RMB 739 million (USD 104 million),
As of December 31, 2023, there were 1,210 hotels with a total of 137,921 hotel rooms in operation across Atour’s hotel network, representing an increase of 27.7% in room number.
Occupancy rate for full year 2023 was 77.8%, compared with 63.0% for the previous year. RevPAR for the year was RMB 377, or 114.4% of 2019’s level.
GMV generated from Atour's retail business was RMB 1,139 million for 2023, up by 298.3% year-over-year.
As of December 31, 2023, the company had a total balance of cash and cash equivalents and restricted cash of RMB 2,842 million (USD 400 million).
