Q2 2025 Atour Lifestyle Holdings Ltd Earnings Call Transcript
Key Points
- Atour Lifestyle Holdings Ltd (ATAT) reported a 37.4% year-over-year increase in net revenues for the second quarter of 2025, driven by hotel network expansion and retail business growth.
- The company opened 118 new hotels in the second quarter, bringing the total to 1,824 hotels, marking a 29.2% year-over-year increase.
- Atour's retail business achieved robust growth with GMV rising 84.6% year-over-year to RMB1,144 million, with online channels accounting for over 90% of total GMV.
- The company's membership program saw a 34.7% year-over-year increase in registered individual members, surpassing 102 million by the end of the second quarter.
- Adjusted EBITDA for the second quarter of 2025 was RMB610 million, up by 37.7% year-over-year, indicating strong operational performance.
- RevPAR for the second quarter was 95.7% of its level in the same period of 2024, indicating a slight decline in revenue per available room.
- Revenues from leased hotels decreased by 17% year-over-year, primarily due to a decrease in the number of leased hotels.
- Selling and marketing expenses increased significantly, accounting for 15.9% of net revenues compared to 12.5% in the same period of 2024.
- The adjusted net profit margin for the second quarter of 2025 decreased by 0.9 percentage points year-over-year due to a rise in the overall effective tax rate.
- The company anticipates a year-on-year decline in full-year net profit margin due to structural impacts from increased retail revenue contribution and higher withholding tax.
Hello, ladies and gentlemen. Thank you for standing by. Welcome to Atour Lifestyle Holdings second quarter 2025 earnings conference call. (Operator Instructions) Today's conference is being recorded.
I would now like to turn the conference over to Mr. Luke Hu, Senior IR Manager. Please go ahead, sir.
Thank you, operator. Good morning, and good evening, everyone. Welcome to our second quarter 2025 earnings conference call. Today, we will hear from our Founder, Chairman and CEO, Mr. Wang Haijun; and our EVP, 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,
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