How does Atour make money?
Atour is a hotel management company, mainly with its own hotels, as it seeks greater efficiency by reducing the number of rented hotels (only 32 as of December 2024). It designs rooms in such a way that it encourages additional services to be purchased from the rooms and invests in comprehensive management software that makes its management model scalable.
Unaudited results for 2024
1619 hotels 183,184 rooms (an increase of 33.8% and 32.8%).
741 hotels under construction.
ADR2024 (Avarage daily room rate) RMB437 (RMB464 for the full year 2023)
Occupancy rate 77,4% (77,8% 2023)
Revenue per available room RevPAR = RMB351 (RMB377 2023)
Selling and marketing expenses for the full year of 2024 were RMB973 million, compared with RMB470 million for the full year of 2023. Selling and marketing expenses accounted for 13.4% of net revenues for the full year of 2024, compared with 10.1% for the full year of 2023.
Technology and development for the full year of 2024 expenses were RMB134 million compared with RMB77 million for the full year of 2023. Technology and development expenses accounted for 1.8% of net revenues for the full year of 2024, compared with 1.7% for the full year of 2023.
Income tax expense For the full year of 2024, income tax expense was RMB446 million (US$61 million), compared with RMB243 million for the full year of 2023.
For the full year of 2024, adjusted EBITDA (non-GAAP) was RMB1,772 million (US$243 million), representing an increase of 46.8% compared with RMB1,207 million for the full year of 2023.
For the full year of 2024, basic income per ADS was RMB9.24 (US$1.26), and diluted income per ADS was RMB9.18 (US$1.26).
Assumptions
For the full year of 2025, the Company currently expects total net revenues to increase by 25% compared with the full year of 2024.
This outlook is based on current market conditions and the Company’s preliminary estimates, which are subject to changes.
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Disclaimer
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