Q1 2025 Atour Lifestyle Holdings Ltd Earnings Call Transcript
Key Points
- Atour Lifestyle Holdings Ltd (ATAT) reported a 29.8% year-over-year increase in net revenues for the first quarter of 2025.
- The company opened 121 new hotels in Q1 2025, marking a 24.7% year-over-year increase, and aims to reach 2,000 premier hotels by year-end.
- Retail business showed strong growth with GMV reaching RMB845 million, up 70.9% year over year, driven by brand strength and customer loyalty.
- The launch of Atour 3.6 and Atour Light 3.3 has been well-received, enhancing the company's competitiveness in the upper midscale and midscale segments.
- Atour Lifestyle Holdings Ltd (ATAT) declared a cash dividend and announced a three-year share repurchase program, demonstrating a commitment to shareholder returns.
- RevPAR decreased by 7.2% year over year in Q1 2025, indicating challenges in maintaining pricing and occupancy levels.
- Revenues from leased hotels decreased by 23.5% year over year, reflecting a decline in the number of leased hotels due to product mix optimization.
- Selling and marketing expenses increased to 14.8% of net revenues, up from 11.9% in the same period of 2024, due to investments in brand recognition.
- Technology and development expenses rose to 2.1% of net revenues, up from 1.6% in the same period of 2024, due to increased investments in technology systems.
- The company faces ongoing market volatility and uncertainties, impacting RevPAR and overall financial performance.
Hello ladies and gentlemen, thank you for standing by and welcome to the Atour Lifestyle Holdings' first-quarter 2025 earnings conference call. (Operator Instructions) Today's conference is being recorded.
I would now like to turn the call over to Mr. Luke Hu, Senior IR manager. Please go ahead, sir.
Thank you, operator. Good morning and good evening, everyone. Welcome to our first-quarter 2025 earnings conference call. Today, you will hear from our Founder, Chairman and CEO, Mr. Wang Haijun; and our EVP and Co-CFO, Mr. Wu Jianfeng.
Before we continue, please be aware that today's discussion will include forward-looking statements under federal securities laws. These statements are subject to various risks and uncertainties, and actual results may differ significantly from what is stated or implied in our comments today. The company is not obligated to update any forward-looking statements except as required by applicable laws.
Additionally, during this call, our management
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