Atour's Q2 2024: Record Revenue, Expansion, & Dividend
Business & Finance News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Show Notes
Atours Q2 2024 earnings show a strong performance despite market challenges. Revenue surged 64.5% YoY to 1.797 billion RMB, driven by managed hotels and retail. RevPAR held at 93.5% of last years level, with occupancy remaining robust. Hotel expansion soared 76% to 1,412 hotels, with new brands like Atour 4.0 and Atour Light 3.0 gaining traction. Investors and franchisees are enthusiastic, signing 712 hotels in the pipeline, and membership surged 72.5% to 76 million. Retail GMV skyrocketed 157.6% to 620 million RMB, led by sleep products. Financially, adjusted net income rose 31.6% to 328 million RMB, with cash at 3.323 billion. Atour guides full-year revenue growth of 48-52% and announced a 3-year dividend policy paying at least 50% of net income. Looking ahead, they plan to open 400 hotels this year, double retail revenue, and push premium upgrades to dominate the upper midscale market, aiming for 2,000 hotels nationwide by 2025.
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