Atour Lifestyle Holdings Limited American Depositary Shares Q3 2025 Earnings Recap

Atour Lifestyle Holdings reported a strong third quarter in 2025, with RevPAR nearly recovering to pre-pandemic levels and record hotel openings demonstrating robust market demand and strategic growth initiatives.

Key Takeaways

• RevPAR reached RMB 371.3, recovering to 97.8% of Q3 2024 levels, while occupancy and average daily rates were nearly at par with prior year figures.
• Opened 152 new hotels in Q3, marking a record quarter and expanding total operations to 1,948 hotels, a 27.1% year-over-year increase.
• Saka Hotel's RevPAR exceeded RMB 900, demonstrating strong performance in the upper-scale lifestyle segment with positive market feedback on new properties.
• Atour's innovative product offerings, particularly in the ATURE series, are resonating well with consumers, evidenced by solid revenue per available room growth.
• The pipeline remains strong with 754 hotels under development, aligning with the strategic target of 2,000 premier hotels by year-end.