Q3 2025 Atour Lifestyle Holdings Ltd Earnings Call Transcript
Key Points
- Atour Lifestyle Holdings Ltd (ATAT) reported a 38.4% year-over-year increase in net revenue for the third quarter of 2025, reaching RMB2,628 million.
- The company opened a record 152 new hotels in the third quarter, bringing the total to 1,948 hotels in operation, a 27.1% year-over-year increase.
- Atour Planet, the company's retail business, achieved a 75.5% year-over-year increase in GMV, reaching RMB994 million, with online channels contributing over 90% of total GMV.
- The company declared a second cash dividend for 2025, totaling approximately USD50 million, reflecting a commitment to shareholder returns.
- Atour Lifestyle Holdings Ltd (ATAT) maintained a healthy cash position with cash and cash equivalents totaling RMB2,670 million as of September 30, 2025.
- Revenues from leased hotels decreased by 13.4% year-over-year, primarily due to a decrease in the number of these hotels as a result of product mix optimization.
- Retail revenues saw a 12.3% quarter-over-quarter decline, attributed to the seasonality of the retail business.
- Hotel opening costs increased by 23.5% year-over-year and 21.1% quarter-over-quarter, driven by higher variable costs and supply chain costs.
- Selling and marketing expenses rose to RMB355 million, accounting for 13.5% of net revenues, up from 11.5% in the same period of 2024, due to investments in brand recognition and online channel development.
- The company closed 28 hotels in the third quarter and expects approximately 80 hotel closures for the year, indicating a focus on maintaining operational quality.
Hello, ladies and gentlemen. Thank you for standing by, and welcome to Atour Lifestyle Holdings third 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 third quarter 2025 earnings conference call. Today, you 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 this 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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