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Atour Lifestyle (NASDAQ:ATAT) outlined progress on its hotel expansion and fast-growing retail business during its fourth quarter and full-year 2025 earnings call, while management emphasized a continued focus on “user-first” experience and brand-building amid what it described as a maturing and increasingly rational travel and consumer environment in China.
Founder, Chairman, and CEO Wang Haijun said 2025 marked the completion of the company’s “Chinese Experience, 2,000 Premier Hotels” strategic initiative, noting the company reached its scale target of 2,000 premier hotels. Wang also highlighted that Atour’s retail business continued to expand and accounted for “nearly 40%” of total group revenue, with Atour Planet reinforcing what he called its leading position in China’s sleep market.
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Looking ahead, management launched a new three-year strategic plan called “Chinese Experience, Brand-Led Excellence.” Wang said experience will remain the cornerstone of the company’s development, while brand will serve as the anchor for long-term growth. He added that Atour intends to deepen the synergy between its hotel and retail businesses and strengthen emotional connections with users through multi-scenario offerings.
In the fourth quarter, Atour reported RevPAR of RMB 335.7, which management said represented 99.6% of the level in the same period of 2024, with sequential improvement. Occupancy (OCC) reached 98.8% of the prior-year level and ADR was 101.5% of the prior-year level. For mature hotels in operation for more than 18 months, RevPAR was 96% of the prior-year level, with OCC at 97% and ADR at 99.6% of the same period of 2024.
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Atour opened 488 new hotels in 2025. By the end of the fourth quarter, the number of hotels in operation reached 2,015, a 24.5% year-over-year increase. The pipeline of hotels under development stood at 779.
On distribution, management said the core CRS channel remained stable and accounted for 62.9% of total room nights sold in the fourth quarter, while corporate members contributed 20.8% of room nights during the quarter.
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Management discussed developments across several brands. Wang said Atour 4.0 was upgraded into an independent brand, Atour Origin, which aims to combine business-travel functionality with a vacation-like ambience. For full-year 2025, management said RevPAR for Atour Origin hotels in operation exceeded RMB 430. At the time of the call, 55 Atour Origin hotels were in operation, with “over 50” projects in the pipeline.
