Atour Lifestyle Holdings Ltd. · NASDAQ:ATAT
Atour Lifestyle — Q2 2025 Earnings Presentation
24 slides from Atour Lifestyle's earnings presentation, Aug 26, 2025
Slide 1: Atour Lifestyle Holdings Limited 2Q25 Results Presentation
Atour Lifestyle Holdings Limited NASDAQ: ATAT 2Q25 Results Presentation August 2025
Slide 2: Disclaimer
Disclaimer 免责声明 This presentation has been prepared by Atour Lifestyle Holdings Limited (the “Company”) solely for informational purposes and has not been independently verified. No representations, warranties or undertakings, express or implied, are made by the Company or any of its affiliates, adv
Slide 3: Business Review
Business Review 业务表现 3
Slide 4: 2Q25 RevPAR was 95.7% of 2024's Level for the Same Period
2Q25 RevPAR was 95.7% of 2024’s Level for the Same Period ⼆季度RevPAR为2024年同期的95.7% (1) (1) (1) OCC ADR RevPAR 97.4% of the level in 2Q24 98.2% of the level in 2Q24 95.7% of the level in 2Q24 为24年同期的97.4% 为24年同期的98.2% 为24年同期的95.7% -2.0p.p. -1.8% -4.3% (RMB) 441 (RMB) 433 78.4% 76.4% 359 343 2Q24 2Q25
Slide 5: 2Q25 Same-Hotel RevPAR was 94.4% of 2024's Level
2Q25 Same-Hotel(1) RevPAR was 94.4% of 2024’s Level for the Same Period ⼆季度同店同⽐(1)RevPAR为2024年同期的94.4% (2) (2) (2) OCC ADR RevPAR 96.5% of the level in 2Q24 97.8% of the level in 2Q24 94.4% of the level in 2Q24 为24年同期的96.5% 为24年同期的97.8% 为24年同期的94.4% -2.8p.p. -2.2% -5.6% (RMB) (RMB) 80.0% 447 437 77.
Slide 6: Hotel Network Expanded Steadily
Hotel Network Expanded Steadily 酒店⽹络稳健扩张 New Hotel Openings in 2Q25 Hotels in Operation(1) No. of Hotels in Pipeline(1) 2Q25新开业酒店数量 在营酒店数量(1) 管道项⽬数(1) 118 1,824 816 Adhere to Long-Term Growth Principle with Hotel Quality as Top Priority 坚持“⻓期主义”的理念，将酒店品质置于⾸位 (1) As of June 30, 2025 6
Slide 7: Atour Series 3 Consolidates Core Brand Position in Mainstream Business Travel
Atour Series 3 Consolidates Core Brand Position in Mainstream Business Travel Scenarios 亚朵3系巩固在主流商旅出⾏场景中的核⼼品牌地位 Atour 3.6 is Built on the “Timeless and Humane” Product Philosophy 亚朵3.6秉承“经典⼈⽂”的产品理念 Focuses on Customer Enhancing the Needs for Functional Space Convenience and Comfort and Ambience of t
Slide 8: Atour Series 4 Stands as a Next-Generation Benchmark for the Upper Midscale Segment
Atour Series 4 Stands as a Next-Generation Benchmark for the Upper Midscale Segment 亚朵4系成为中⾼端市场新⼀代标杆产品 Atour 4.0 Hotels Atour 4.0 Hotels in Operation(1) in Pipeline(1) 亚朵4.0在营数量(1) 管道内亚朵4.0数量 (1) 30+ 60+ Seamlessly Integrating Spatial Aesthetics with Local Culture 深度融合空间美学与属地⽂化 (1) As of Aug 22, 202
Slide 9: SAVHE Hotel Represents an Innovative Model in New Generation of Upscale Hotels
SAVHE Hotel Represents an Innovative Model in New Generation of Upscale Hotels 萨和酒店树⽴新⼀代⾼端酒店创新典范 Embodies the“Oriental Serenity” Brand Ethos “隐逸东⽅”的品牌调性 Creates Deeply Immersive Revolutionizing the Experiences across Multiple Traditional Hotel's Dimensions Approach to Guest Care 在多个维度打造 ⾰新了传统酒店对宾客的
Slide 10: Atour Light Widens the Differentiated Advantage in the Midscale Segment
Atour Light Widens the Differentiated Advantage in the Midscale Segment 轻居夯实在中端市场的差异化优势 Atour Light 3.3 轻居3.3 Comprehensively Improving the Design Style, Functional Modules, and Operating Model 系统性优化设计⻛格、功能模块和经营模型 Strong Operating Performance in the Brand’s Metrics and Flagship Hotels in Key Cities
Slide 11: Retail Business Maintained Robust Growth
Retail Business Maintained Robust Growth 零售业务延续强劲增⻓趋势 (1) (1) Retail GMV Online Channel Contribution 618 Shopping Festival GMV 零售GMV (1) 线上渠道占⽐ (1) 618购物节GMV (RMB mn) (RMB mn) No. 1 +84.6% 1,144 +86.1% 578 90%+ 620 310 Sales Ranking in the Bedding Category on Major Third-Party Platforms During the 6
Slide 12: The Pillow Category Further Cements Its Leadership Position
The Pillow Category Further Cements Its Leadership Position 枕头品类持续巩固领先地位 No.1 Sales Ranking in the Pillow Category on Major Third-Party Platforms(1) 枕头品类在主流第三⽅平台 销售排名(1) Launched Deep Sleep Memory Foam Pillow Pro 3.0 with Multiple Breakthrough Upgrades 推出深睡枕Pro 3.0，实现多项突破性升级 (1) For the Second Quart
Slide 13: Momentum of Comforter Category Gradually Gains Market Recognition
Momentum of Comforter Category’s Gradually Gains Market Recognition 被⼦品类产品势能逐步得到市场验证 No.1 Sales Ranking in the Comforter Category on Douyin Platform in May 被⼦品类5⽉在抖⾳平台 销售排名 Deep Sleep Thermo-Regulating Comforter Pro 2.0 (Summer Season) Continued the Strong Sales Momentum 深睡控温被·夏季Pro 2.0延续热销态势 13
Slide 14: Atour Planet Continues to Drive Product Iterations and Category Innovations
Atour Planet Continues to Drive Product Iterations and Category Innovations 亚朵星球持续推动产品迭代和品类创新 Covers the Diverse Needs of Customer Home Sleep Micro- Environment and Demonstrating Our Capabilities to Provide Systematic Solutions in the Sleep Segment 覆盖⽤⼾居家睡眠微环境的多元需求 ， 在睡眠领域提供系统性解决⽅案 14
Slide 15: Rapid Membership Base Expansion with Stable CRS Performance
Rapid Membership Base Expansion with Stable CRS Performance 会员规模快速扩张，⾃有渠道保持稳健 No. of Registered Individual Members(1) Core CRS Channel(2) 注册会员数(1) 核⼼⾃有渠道(2) (mn) +34.7% 102.6 Total Room-Nights Sold 61.5% Through CRS(3) Channels 76.2 CRS(3) 渠道销售间夜占⽐ 20.0% Corporate Members’ Contribution(4) 企业协议销售间夜占⽐
Slide 16: Ongoing Membership Ecosystem Enhancements and Member Benefits Expansion
Ongoing Membership Ecosystem Enhancements and Member Benefits Expansion 会员体系持续完善，会员权益不断丰富 Launched the New Gold Member Growth System 推出全新⾦会员成⻓体系 “Tier-Based” Benefits Release Mechanism “阶梯式”的权益发放机制 Refocus on Customers and Aligned with Progression Pace and Respond to Their Genuine Needs Usage Needs
Slide 17: Financial Review
Financial Reviewer: 7 WU 2
Slide 18: Net Revenues
Net Revenues 收⼊ （RMB in thousands） 2Q24 1Q25 2Q25 YoY QoQ Net Revenues 1,797,047 1,905,814 2,468,549 37.4% 29.5% - Manachised hotels 1,026,979 1,032,183 1,299,194 26.5% 25.9% - Leased hotels 180,333 128,563 149,597 -17.0% 16.4% - Retail 536,734 693,779 964,849 79.8% 39.1% - Others 53,001 51,289 54,9
Slide 19: Operating Costs and Expenses
Operating Costs and Expenses 运营成本及费⽤ （RMB in thousands） 2Q24 1Q25 2Q25 YoY QoQ Total Operating Costs and Expenses 1,399,721 1,565,290 1,875,333 34.0% 19.8% Hotel Operating Costs 775,753 736,145 893,231 15.1% 21.3% - Gross Margin of Hotel Businesses 35.7% 36.6% 38.3% 2.6p.p. 1.7p.p. Retail Costs 265,
Slide 20: Operating Costs and Expenses (cont.)
Operating Costs and Expenses (cont.) 运营成本及费⽤（续） （RMB in thousands） 2Q24 1Q25 2Q25 YoY QoQ Selling and marketing expenses 224,607 282,897 392,847 74.9% 38.9% - as % of net revenues 12.5% 14.8% 15.9% 3.4p.p. 1.1p.p. General and administrative expenses 91,488 161,813 89,546 -2.1% -44.7% - as % of net r
Slide 21: Adjusted Net Income and Adjusted EBITDA
Adjusted Net Income and Adjusted EBITDA 调整后净利润和调整后EBITDA Adjusted Net Income (1) Adjusted EBITDA (2) 调整后净利润 (1) 调整后EBITDA (2) (RMB mn) (RMB mn) +30.2% +37.7% 427 610 328 443 2Q24 2Q25 2Q24 2Q25 Adj. Net Adj. EBITDA Profit Margin 18.2% 17.3% 24.6% 24.7% Margin (1) Adjusted net income (non-GAAP) is de
Slide 22: Cash Position
Cash Position(1) 流动性情况(1) Cash and Cash Equivalents Net Cash(2) 现⾦及现⾦等价物 净现⾦(2) RMB 2,716mn RMB 2,649mn (1) As of June 30, 2025 (2) Net cash equals cash and cash equivalents less total borrowings 22
Slide 23: Outlook
Outlook 业绩指引 Total Net Revenues Growth Rate For Full Year 2025 2025全年收⼊同⽐增⻓ 30% (YOY) 23
Slide 24: Q&A
Q&A 问答 24
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