Atour (ATAT, Financial) saw its stock rise by 6.05% in pre-market trading, reaching $28.73. The company reported impressive financial results for the third quarter of 2024, with revenue climbing 46.7% year-over-year to 1.899 billion yuan. Adjusted net profit increased by 41.2% to 384 million yuan, while adjusted EBITDA rose 40.0% to 532 million yuan.
Key performance indicators showed significant growth, with RevPAR (average revenue per available room) and ADR (average daily rate) recorded at 380 yuan and 456 yuan, respectively. Occupancy rates reached 80.3% during this period.
The third quarter saw the opening of 140 new hotels, a substantial increase of 72.8% compared to the previous year, setting a new record for the number of openings in a single quarter. By the end of the quarter, Atour's operational hotel count was 1,533, a 37.9% increase year-over-year.
Additionally, Atour's retail segment continued its upward momentum, with the gross merchandise volume (GMV) rising by 107.7% to 566 million yuan.
