Atour Lifestyle Shares Fall Nearly 4% as Same-Hotel Revenue Declines Despite 30.5% Sales Growth

Atour Lifestyle Holdings Limited (NASDAQ:ATAT) reported third-quarter 2026 revenue growth of 30.5% year-on-year to RMB3.43 billion ($511 million), supported by expansion in its hotel network and retail business. However, shares declined 3.95% in after-hours trading on Tuesday following a deterioration in same-hotel operating metrics.

The Chinese hospitality group reported adjusted earnings of $0.22 per share, while revenue increased from RMB2.63 billion in the corresponding period of 2025.

Same-Hotel Revenue and Occupancy Decline

Atour reported a 4.2% year-on-year decline in same-hotel revenue per available room (RevPAR), which fell to RMB356.6 from RMB372.2.

Same-hotel occupancy decreased to 79.5% from 81.1%, while average daily room rates (ADR) declined to RMB433.7 from RMB443.1.

The figures indicated lower revenue performance at comparable properties despite continued expansion of the company’s hotel portfolio.

As of September 30, 2026, Atour operated 2,288 hotels comprising approximately 254,800 rooms, representing year-on-year increases of 17.5% and 16.2%, respectively.

Retail Revenue Increases 61% as Hotel Network Expands

Atour’s retail business generated revenue of RMB1.36 billion, up 61.0% from RMB846 million a year earlier.

Revenue from manachised hotels, which operate under the company’s management and franchise arrangements, increased 20.4% to RMB1.88 billion.

Adjusted EBITDA rose 28.8% year-on-year to RMB883 million ($132 million).

Founder, Chairman and Chief Executive Officer Haijun Wang commented:

“In the third quarter of 2026, both our hotel and retail businesses sustained strong momentum. For the hotel business, guided by our ’quality-first’ principle, we steadily expanded our high-quality hotel network, reaching 2,288 hotels in operation by the end of the quarter.”

Atour Forecasts 33% to 35% Revenue Growth for 2026

For the full year, Atour expects total net revenue to increase between 33% and 35% compared with 2025, representing growth of 34% at the midpoint.

The guidance reflects the company’s expectations for continued revenue expansion across its operations.

The third-quarter results showed higher consolidated revenue and adjusted EBITDA, supported by retail sales and hotel network growth. However, declining comparable-hotel occupancy, room rates and RevPAR coincided with a 3.95% decline in the company’s shares during after-hours trading.

Atour Lifestyle Holdings stock price