NASDAQ$ATAT
Atour Lifestyle Holdings Limited · Q2 2025 earnings
Q2 2025 earnings · · Before market open · Investor relations
Briefing
Atour Q2 2025: RMB2.47B net revenue (+37%), net income RMB425M as hotel network reaches 1,824 properties
Atour Lifestyle Holdings posted second-quarter 2025 net revenue of RMB2.47 billion (US$345 million), up 37.4% from RMB1.80 billion a year ago, led by manachised hotel and retail growth. Net income increased 39.8% to RMB425 million (US$59 million); adjusted net income rose 30.2% to RMB427 million. Diluted EPS was RMB1.01 per ordinary share (RMB3.03 per ADS). The company operated 1,824 hotels with 204,784 rooms (+29.2% hotels YoY). Hotel metrics included ADR of RMB433, occupancy of 76.4%, and RevPAR of RMB343. Retail GMV grew 84.6% to RMB1.14 billion. EBITDA (non-GAAP) was RMB608 million and adjusted EBITDA RMB610 million. For full-year 2025, Atour expects total net revenues to increase about 30% versus 2024.
- Net revenue RMB2.47B (+37.4% YoY); net income RMB425M (+39.8%); adjusted net income RMB427M
- 1,824 hotels and 204,784 rooms in operation; ADR RMB433, occupancy 76.4%, RevPAR RMB343
- Manachised hotel revenue RMB1.30B (+26.5%); retail revenue RMB965M (+79.8%)
- Retail GMV RMB1.14B (+84.6%); adjusted EBITDA RMB610M (+37.7%)
- Full-year 2025 net revenue guidance: +30% vs 2024
Headline financials
Revenue & EPS history
Atour · Revenue · Quarterly
¥2.47B
Revenue by segment
Atour · ¥2.47B total across 4 segments · Q2 2025
- Manachised hotels¥1.3B—52.6%
- Retail¥965M—39.1%
- Leased hotels¥150M—6.1%
- Others¥54.9M—2.2%
Forward guidance
For full-year 2025, Atour expects total net revenues to increase by approximately 30% compared with full-year 2024.
Tailwinds
- Continued hotel network expansion with 816 manachised hotels under development
- Retail GMV growth and manachised hotel revenue momentum
Headwinds
- Leased hotel revenue declined on product mix optimization
- ADR and RevPAR below prior-year levels
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 15 quarterly earnings reports · overlaid with Q2 2025
+0.0%
Avg return
Earnings day
-1.1%
Avg return
5 days after
-2.0%
Avg return
30 days after
44%
7 / 16 earnings
Positive
+15.1%
Q2 2024
Best reaction
-11.7%
Q3 2022
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -0.8% | -3.6% | -11.8% | |
| Q3 2025 | -1.8% | +1.4% | +11.6% | |
| Q2 2025 | +6.1% | +10.9% | +8.8% | |
| Q1 2025 | +9.0% | +2.8% | +1.6% | |
| Q4 2024 | -4.2% | -5.9% | -21.4% | |
| Q3 2024 | -4.7% | -6.7% | +0.8% | |
| Q2 2024 | +15.1% | +14.7% | +53.6% | |
| Q1 2024 | +0.2% | +1.7% | +6.3% | |
| Q4 2023 | -2.3% | -0.1% | -1.8% | |
| Q3 2022 | -11.7% | -6.6% | -5.9% | |
| Q3 2023 | -5.0% | -5.5% | -12.7% | |
| Q2 2023 | -2.9% | -1.3% | -6.1% | |
| Q1 2023 | -3.3% | -9.3% | -10.7% | |
| Q4 2021 | +0.3% | -4.9% | -16.0% | |
| Q4 2020 | +0.3% | -4.9% | -16.0% | |
| Q4 2022 | +6.4% | +0.3% | -13.0% | |
| Q2 2022 | — | — | — | |
| Q1 2022 | — | — | — | |
| Q3 2021 | — | — | — | |
| Q2 2021 | — | — | — | |
| Q1 2021 | — | — | — | |
| Q3 2020 | — | — | — | |
| Q2 2020 | — | — | — | |
| Q1 2020 | — | — | — |
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