Strong Network Expansion
In 2024, Atour opened 471 new hotels and signed 670 new projects, exceeding initial targets. The total number of hotels in operation reached 1,619, representing a 33.8% year-over-year growth.
Retail Business Growth
Atour's retail business grew significantly, with full-year GMV reaching RMB 2.59 billion, a 127.7% year-over-year increase. The retail business contributed 30% to the group's revenue in 2024.
Record Net Revenue Increase
For full year 2024, net revenue increased by 55.3% year-over-year to RMB 7,248 million, driven by growth in the manachised hotels and retail businesses.
Improved Gross Margins
Gross margin of the hotel business increased to 37.5% in Q4 2024 from 29.9% in the same period of 2023, while the retail business gross margin increased to 49.6% from 43.7%.