NASDAQ$ATAT
Atour Lifestyle Holdings Limited · Q3 2025 earnings
Q3 2025 earnings · · Before market open · Investor relations
Briefing
Atour Q3 2025: RMB2.63B net revenue (+38%), net income RMB474M as hotel network hits 1,948 properties
Atour Lifestyle Holdings posted third-quarter 2025 net revenue of RMB2.63 billion (US$369 million), up 38.4% from RMB1.90 billion a year ago, led by manachised hotel and retail growth. Net income increased 24.6% to RMB474 million (US$67 million); adjusted net income rose 27.0% to RMB488 million. Basic EPS was RMB1.14 and diluted EPS RMB1.13; adjusted diluted EPS was RMB1.16 per ordinary share. The company operated 1,948 hotels with 219,359 rooms (+27.1% hotels YoY). Hotel metrics included ADR of RMB447, occupancy of 80.2%, and RevPAR of RMB371. Retail GMV grew 75.5% to RMB994 million. EBITDA (non-GAAP) was RMB672 million and adjusted EBITDA RMB685 million. For full-year 2025, Atour expects total net revenues to increase about 35% versus 2024.
- Net revenue RMB2.63B (+38.4% YoY); net income RMB474M (+24.6%); adjusted net income RMB488M
- 1,948 hotels and 219,359 rooms in operation; ADR RMB447, occupancy 80.2%, RevPAR RMB371
- Manachised hotel revenue RMB1.56B (+32.3%); retail revenue RMB846M (+76.4%)
- Retail GMV RMB994M (+75.5%); adjusted EBITDA RMB685M (+28.7%)
- Full-year 2025 net revenue guidance: +35% vs 2024
Headline financials
Revenue & EPS history
Atour · Revenue · Quarterly
¥2.63B
Revenue by segment
Atour · ¥2.63B total across 4 segments · Q3 2025
- Manachised hotels¥1.56B—59.4%
- Retail¥846M—32.2%
- Leased hotels¥164M—6.2%
- Others¥57.2M—2.2%
Forward guidance
For full-year 2025, Atour expects total net revenues to increase by approximately 35% compared with full-year 2024.
Tailwinds
- Continued hotel network expansion with 754 manachised hotels under development
- Retail GMV growth and manachised hotel revenue momentum
Headwinds
- Leased hotel revenue declined on product mix optimization
- ADR and RevPAR slightly 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 Q3 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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