On August 29th, Chinese chain hotel group Atour Lifestyle Holdings Limited (hereinafter referred to as "Atour Group", NASDAQ: TAT) disclosed its Q2 2024 performance report.
Financial data shows that in the second quarter of this year, Yaduo Group achieved a revenue of approximately 1.797 billion yuan (RMB), a year-on-year increase of 64.5%; Adjusted net profit of approximately 328 million yuan, a year-on-year increase of 31.6%; Adjusted EBITDA (earnings before interest, tax, depreciation, and amortization) was approximately RMB 443 million, a year-on-year increase of 28.6%.
According to the indicators of the accommodation industry, in the second quarter, the RevPAR (average revenue from rentable rooms) of all hotels under the Yaduo Group was 358.7 yuan, a year-on-year decrease of 6.49%; ADR (Average Daily Rate) was 440.6 yuan, a year-on-year decrease of 7.2%; The average occupancy rate was 78.4%, a year-on-year increase of 1.3 percentage points.
Founder, Chairman, and CEO of Yaduo Group, Wang Haijun, pointed out that the decline in RevPAR this year is mainly due to the high base of the previous year, but the hotel occupancy rate remains stable.
It is worth mentioning that on June 28th of this year, Yaduo 4.0's first store landed in Xi'an, with a RevPAR of over 710 yuan and an occupancy rate of over 91% in the first month. As of now, Ado 4.0 has signed 50 projects in over 30 cities across the country. Meanwhile, Qingju 3.0 signed a total of 37 contracts in the second quarter, accounting for over 20% of the total. As of the end of the second quarter, the number of Light Residence 3.0 hotels that have opened has reached 54, among which the RevPAR of Light Residence 3.0 hotels that have been in operation for three months exceeded 310 yuan in the second quarter.
As of the end of the second quarter, Yaduo Group had 1412 operating hotels, a year-on-year increase of 36.6%, and 712 hotels under development in its pipeline.
On the other hand, in the second quarter of this year, Ado's retail business continued to maintain a strong growth momentum, with GMV (Gross Merchandise Volume) reaching 620 million yuan, a year-on-year increase of 157.6%, of which online channels accounted for over 90%. During this year's 618 promotion, the GMV of Yaduo Planet reached 310 million yuan, once again breaking the record for the promotion.
Thanks to the coordinated development of Ato's accommodation and retail businesses, we once again demonstrated high-quality performance in the second quarter of 2024, continuously consolidating Ato's leading industry position. In the first half of the year, we not only continued to upgrade the 'China Experience' in the accommodation business to better meet the constantly changing personalized, diversified, and high-quality service consumption needs of users, but also actively undertook the new wave of retail business development. On the premise of deepening user needs and consolidating brand reputation, we promoted the all-round high-quality development of the group's business and brand
Based on positive expectations for the company's performance growth, Yaduo Group has released its annual performance guidance, expecting a year-on-year revenue growth of 48% to 52% in 2024.
On the same day, Yaduo Group also disclosed a three-year dividend policy, planning to distribute no less than 50% of the net profit of the previous fiscal year annually. Among them, the company will distribute cash dividends of $0.15 per ordinary share or $0.45 per ADS this year, with a total cash dividend of approximately $62 million. The dividend will be paid around September 30, 2024.