Atour Group Revenue Surges 55.3% in 2024, Driven by Retail and Hospitality Growth

Atour Group, a prominent player in the hospitality and lifestyle sector, reported a remarkable 55.3% year-over-year increase in revenue for 2024, reaching 72.48 billion yuan. This growth was driven by a strong performance across various segments of the company's business, with the retail sector being a standout contributor. The retail business achieved a Gross Merchandise Value (GMV) of 25.92 billion yuan, reflecting a 127.7% increase compared to the previous year. The online channel continued to dominate, accounting for over 90% of the total retail GMV.

The company's strategic focus on expanding its brand influence and enhancing operational quality has been pivotal in driving this growth. The retail business, which includes a range of sleep-related products, saw a particularly strong performance. The deep sleep memory pillow PRO series, for instance, achieved cumulative sales exceeding 3.8 million units. This success underscores the company's ability to capitalize on the growing demand for high-quality sleep products.

In the hospitality sector, Atour Group opened 471 new hotels in 2024, a 63% increase from the previous year. This expansion brought the total number of operational hotels to 1,619, with an additional 741 projects in the pipeline. The company's strategic initiatives, such as the "China Experience, Two Thousand Good Hotels" plan, have laid a solid foundation for achieving its goal of 2,000 high-quality hotels by 2025.

The company's financial performance was equally impressive. The adjusted net profit for the year was 13.06 billion yuan, a 44.6% increase from the previous year. The adjusted EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) also saw a significant rise, reaching 17.72 billion yuan, a 46.8% year-over-year increase. These financial metrics highlight the company's strong operational efficiency and profitability.

Atour Group's success can be attributed to its strategic focus on expanding its brand influence and enhancing operational quality. The company's ability to leverage digital channels and capitalize on the growing demand for high-quality sleep products has been a key driver of its growth. As the company continues to expand its hotel portfolio and retail offerings, it is well-positioned to maintain its strong performance and achieve its strategic goals.