Since the beginning of this year, driven by factors such as increased travel volume and the recovery of the tourism industry, hotels have become one of the strongest recovery tracks in China's sustained economic recovery. According to the 2023 third quarter financial report released on the evening of November 16th by NASDAQ: ATAT, the company achieved a revenue of 1.294 billion yuan during the reporting period, a year-on-year increase of 93.1%; The adjusted net profit (non GAAP) was 272 million yuan, a year-on-year increase of 144.7%; The adjusted EBITDA (non GAAP) was RMB 380 million, a year-on-year increase of 122.4%.
In the third quarter of this year, driven by the rapid growth of travel and accommodation demand, especially the significant increase in summer demand, multiple business indicators of Yaduo Group showed strong growth. Among them, the RevPAR (average rental room revenue) of Yaduo Group was 424 yuan, setting a quarterly record high, reaching 118% of the same period in 2019. The RevPAR in July, August, and September of this year has recovered to 122%, 116%, and 115% of the same period in 2019, respectively.
At the same time, Yaduo's ADR (daily average room price) and OCC (occupancy rate) also achieved rapid growth in the third quarter, reaching 495 yuan and 82.4% respectively, both exceeding the same period in 2019. It is worth mentioning that during this year's Mid Autumn National Day holiday, Yaduo's ADR and OCC increased by 14.6% and 7.2% respectively compared to the 2019 National Day holiday, driving RevPAR to recover to the same level of 123% in 2019.
In terms of hotel scale, in the third quarter of this year, Yaduo opened 81 new stores. As of the end of September this year, the network of hotels operated by Yaduo Group has reached 1112; The number of hotels to be developed within the pipeline reached 577, a year-on-year increase of over 60%.
The synergy between Yaduo's hotel brand and scene retail is emerging. In the third quarter of this year, the overall GMV of Yaduo Group's scenario retail business reached 302 million yuan, a year-on-year increase of 292.0%. Among them, the growth of online channel sales is particularly strong, accounting for 80% of the overall GMV.
During the recently concluded Double Eleven Shopping Festival, the third-party e-commerce platform GMV of Yaduo's scene retail business exceeded 250 million yuan, an increase of over 600% compared to the same period last year and an increase of over 140% compared to 618 this year.