Exhibit 99.1

 

Atour Lifestyle Holdings Limited Reports Second Quarter 2026 Unaudited Financial Results

 

·A total of 2,175 hotels, or 242,526 hotel rooms, in operation as of June 30, 2026.

 

·Net revenues for the second quarter of 2026 increased by 41.4% year-over-year to RMB3,490 million (US$514 million).

 

·Net income for the second quarter of 2026 increased by 29.0% year-over-year to RMB548 million (US$81 million).

 

·Adjusted net income (non-GAAP)1 for the second quarter of 2026 increased by 30.8% year-over-year to RMB558 million (US$82 million).

 

·EBITDA (non-GAAP)2 for the second quarter of 2026 increased by 33.3% year-over-year to RMB810 million (US$119 million).

 

·Adjusted EBITDA (non-GAAP)3 for the second quarter of 2026 increased by 34.6% year-over-year to RMB821 million (US$121 million).

 

SHANGHAI, China, August 20, 2026 -- Atour Lifestyle Holdings Limited (“Atour” or the “Company”) (NASDAQ: ATAT), a leading lifestyle group in China, today announced its unaudited financial results for the second quarter ended June 30, 2026.

 

Second Quarter of 2026 Highlights

 

As of June 30, 2026, there were 2,175 hotels with a total of 242,526 hotel rooms in operation across Atour’s hotel network, representing increases of 19.2% and 18.4% year-over-year in terms of the number of hotels and hotel rooms, respectively. As of June 30, 2026, there were 811 manachised hotels under development in our pipeline.

 

The average daily room rate4 (“ADR”) was RMB438 for the second quarter of 2026, compared with RMB433 for the same period of 2025 and RMB427 for the previous quarter.

 

The occupancy rate4 was 76.2% for the second quarter of 2026, compared with 76.4% for the same period of 2025 and 70.6% for the previous quarter.

 

The revenue per available room4 (“RevPAR”) was RMB345 for the second quarter of 2026, compared with RMB343 for the same period of 2025 and RMB312 for the previous quarter.

 

 

1 Adjusted net income (non-GAAP) is defined as net income excluding share-based compensation expenses.

2 EBITDA (non-GAAP) is defined as earnings before interest expense, interest income, income tax expense and depreciation and amortization.

3 Adjusted EBITDA (non-GAAP) is defined as EBITDA excluding share-based compensation expenses.

4 Excludes hotel rooms that became unavailable due to temporary hotel closures. ADR and RevPAR are calculated based on tax-inclusive room rates.

“ADR” refers to the average daily room rate, which means room revenue divided by the number of rooms in use for a given period;

“Occupancy rate” refers to the number of rooms in use divided by the number of available rooms for a given period;

“RevPAR” refers to revenue per available room, which is calculated by total revenues during a period divided by the number of available rooms of our hotels during the same period.

 

 

 

 

The revenue generated from our retail business was RMB1,575 million for the second quarter of 2026, representing an increase of 63.2% year-over-year.

 

“In the second quarter of 2026, we steadily advanced our new three-year ‘Chinese Experience, Brand-Led Excellence’ strategy, achieving sustained breakthroughs in both our hotel and retail businesses,” said Mr. Haijun Wang, Founder, Chairman and CEO of Atour. “For our hotel business, we adhered to the ‘quality-first’ principle and strictly controlled project quality. By the end of the second quarter, our total number of hotels in operation reached 2,175. We continued to refine our products and experiences around each brand’s distinct positioning, and our differentiated brand strengths gained broad market recognition. Meanwhile, our retail business sustained its strong growth momentum. Retail revenue was RMB1.57 billion in the second quarter, up 63% year-over-year. Atour Planet further consolidated its advantages in core categories and continued to expand its product portfolio.”

 

“Looking ahead, we remain committed to a long-term approach, continuously improving product quality around user needs, strengthening brand and organizational capabilities, further consolidating the competitiveness of both our hotel and retail businesses, and achieving higher-quality sustainable development,” concluded Mr. Wang.

 

Second Quarter of 2026 Unaudited Financial Results

 

(RMB in thousands)  Q2 2025   Q2 2026 
Revenues:          
Manachised hotels   1,299,194    1,725,369 
Leased hotels   149,597    131,915 
Retail   964,849    1,574,522 
Others   54,909    58,541 
Net revenues   2,468,549    3,490,347 

 

Net revenues. Our net revenues for the second quarter of 2026 increased by 41.4% to RMB3,490 million (US$514 million) from RMB2,469 million for the same period of 2025. The increase was mainly driven by growth in the manachised hotel and retail businesses.

 

·Manachised hotels. Revenues from our manachised hotels for the second quarter of 2026 increased by 32.8% to RMB1,725 million (US$254 million) from RMB1,299 million for the same period of 2025. The increase was primarily driven by our ongoing hotel network expansion and supply chain business development. The total number of our manachised hotels increased from 1,800 as of June 30, 2025 to 2,156 as of June 30, 2026.

 

 

 

 

·Leased hotels. Revenues from our leased hotels for the second quarter of 2026 decreased by 11.8% to RMB132 million (US$19 million) from RMB150 million for the same period of 2025. The decrease was primarily due to the decrease in the number of leased hotels as a result of our product mix optimization. The total number of our leased hotels decreased from 24 as of June 30, 2025 to 19 as of June 30, 2026.

 

·Retail. Revenues from retail for the second quarter of 2026 increased by 63.2% to RMB1,575 million (US$232 million) from RMB965 million for the same period of 2025. The increase was driven by growing recognition of our retail brands and effective product innovation and development as we successfully broadened our product offerings.

 

·Others. Revenues from others for the second quarter of 2026 increased by 6.6% to RMB59 million (US$9 million) from RMB55 million for the same period of 2025.

 

(RMB in thousands)  Q2 2025   Q2 2026 
Operating costs and expenses:          
Hotel operating costs   (893,231)   (1,198,048)
Retail costs   (450,542)   (765,135)
Other operating costs   (6,593)   (5,198)
Selling and marketing expenses   (392,847)   (605,945)
General and administrative expenses   (89,546)   (129,917)
Technology and development expenses   (42,574)   (56,838)
Total operating costs and expenses   (1,875,333)   (2,761,081)

 

Operating costs and expenses for the second quarter of 2026 were RMB2,761 million (US$407 million), including RMB10 million share-based compensation expenses, compared with RMB1,875 million, including RMB2 million share-based compensation expenses for the same period of 2025.

 

·Hotel operating costs for the second quarter of 2026 were RMB1,198 million (US$177 million), compared with RMB893 million for the same period of 2025. The increase was mainly due to the increase in variable costs, such as supply chain costs and hotel manager costs, associated with our ongoing hotel network expansion. Hotel operating costs accounted for 64.5% of manachised and leased hotels’ revenues for the second quarter of 2026, compared with 61.7% for the same period of 2025.

 

·Retail costs for the second quarter of 2026 were RMB765 million (US$113 million), compared with RMB451 million for the same period of 2025. The increase was associated with the rapid growth of our retail business. Retail costs accounted for 48.6% of retail revenues for the second quarter of 2026, compared with 46.7% for the same period of 2025.

 

·Other operating costs for the second quarter of 2026 were RMB5 million (US$0.8 million), compared with RMB7 million for the same period of 2025.

 

 

 

 

·Selling and marketing expenses for the second quarter of 2026 were RMB606 million (US$89 million), compared with RMB393 million for the same period of 2025. The increase was mainly due to our enhanced investment in branding and the effective development of online channels, aligned with the growth of our retail business. Selling and marketing expenses accounted for 17.4% of net revenues for the second quarter of 2026, compared with 15.9% for the same period of 2025.

 

·General and administrative expenses for the second quarter of 2026 were RMB130 million (US$19 million), including RMB9 million share-based compensation expenses, compared with RMB90 million, including RMB2 million share-based compensation expenses for the same period of 2025. Excluding the share-based compensation expenses, the increase was primarily due to an increase in labor costs. General and administrative expenses, excluding share-based compensation expenses, accounted for 3.5% of net revenues for the second quarter of 2026, compared with 3.6% for the same period of 2025.

 

·Technology and development expenses for the second quarter of 2026 were RMB57 million (US$8 million), compared with RMB43 million for the same period of 2025. The increase was mainly attributable to our increased investments in technology systems and infrastructure to support our expanding hotel network and retail business, and to improve customer experience. Technology and development expenses accounted for 1.6% of net revenues for the second quarter of 2026, compared with 1.7% for the same period of 2025.

 

Other operating income, net for the second quarter of 2026 was RMB44 million (US$6 million), compared with RMB3 million for the same period of 2025. The increase was mainly due to an increase in income from government subsidies.

 

Income from operations for the second quarter of 2026 was RMB773 million (US$114 million), compared with RMB596 million for the same period of 2025.

 

Income tax expense for the second quarter of 2026 was RMB255 million (US$38 million), compared with RMB192 million for the same period of 2025.

 

Net income for the second quarter of 2026 was RMB548 million (US$81 million), representing an increase of 29.0% compared with RMB425 million for the same period of 2025.

 

Adjusted net income (non-GAAP) for the second quarter of 2026 was RMB558 million (US$82 million), representing an increase of 30.8% compared with RMB427 million for the same period of 2025.

 

Basic and diluted income per share/American depositary share (ADS). For the second quarter of 2026, basic income per share was RMB1.35 (US$0.20), and diluted income per share was RMB1.33 (US$0.20). For the second quarter of 2026, basic income per ADS was RMB4.05 (US$0.60), and diluted income per ADS was RMB3.99 (US$0.60).

 

EBITDA (non-GAAP) for the second quarter of 2026 was RMB810 million (US$119 million), representing an increase of 33.3% compared with RMB608 million for the same period of 2025.

 

Adjusted EBITDA (non-GAAP) for the second quarter of 2026 was RMB821 million (US$121 million), representing an increase of 34.6% compared with RMB610 million for the same period of 2025.

 

 

 

 

Cash flows. Operating cash inflow for the second quarter of 2026 was RMB835 million (US$123 million). Investing cash inflow for the second quarter of 2026 was RMB282 million (US$42 million). Financing cash outflow for the second quarter of 2026 was RMB861 million (US$127 million).

 

Cash and cash equivalents and restricted cash. As of June 30, 2026, the Company had a total balance of cash and cash equivalents and restricted cash of RMB3.9 billion (US$582 million).

 

Debt financing. As of June 30, 2026, the Company had total outstanding borrowings of RMB237 million (US$35 million).

 

Outlook

 

For the full year of 2026, the Company currently expects total net revenues to increase by 30% compared with the full year of 2025.

 

This outlook is based on current market conditions and the Company’s preliminary estimates, which are subject to changes.

 

Conference Call

 

The Company will host a conference call at 7:00 AM U.S. Eastern time on Thursday, August 20, 2026 (or 7:00 PM Beijing/Hong Kong time on the same day).

 

A live webcast of the conference call will be available on the Company’s investor relations website at https://ir.yaduo.com, and a replay of the webcast will be available following the session.

 

For participants who wish to join the conference call via telephone, please pre-register using the link provided below. Upon registration, each participant will receive a set of participant dial-in numbers and a personal PIN to join the conference call.

 

Details for the conference call are as follows:

 

Event Title: Atour Second Quarter of 2026 Earnings Conference Call Pre-registration Link: https://register-conf.media-server.com/register/BIe8138a580f784759b9c45dda51c9d597

 

 

 

 

Use of Non-GAAP Financial Measures

 

To supplement the Company’s unaudited consolidated financial results presented in accordance with U.S. Generally-Accepted Accounting Principles (“GAAP”), the Company uses the following non-GAAP measures defined as non-GAAP financial measures by the U.S. Securities and Exchange Commission: adjusted net income, which is defined as net income excluding share-based compensation expenses; adjusted net income per ordinary share - Diluted, which is defined as net income attributable to the Company excluding share-based compensation expenses divided by the number of weighted average ordinary shares used in calculating net income per ordinary share - Diluted; EBITDA, which is defined as earnings before interest income, interest expense, income tax expense and depreciation and amortization; adjusted EBITDA, which is defined as EBITDA excluding share-based compensation expenses. The presentation of these non-GAAP financial measures is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with U.S. GAAP. For more information on these non-GAAP financial measures, please see the table captioned “Reconciliations of GAAP and non-GAAP results” set forth at the end of this release.

 

The Company believes that EBITDA is widely used by other companies in the hospitality industry and may be used by investors as a measure of the financial performance. Given the significant investments that the Company has made in leasehold improvements and other fixed assets of leased hotels, depreciation and amortization comprises a significant portion of the Company’s cost structure. The Company believes that EBITDA will provide investors with a useful tool for comparability between periods because it eliminates depreciation and amortization attributable to capital expenditures. Adjusted net income, adjusted net income per ordinary share – Diluted, and adjusted EBITDA provide meaningful supplemental information regarding the Company’s performance by excluding share-based compensation expenses, as the investors can better understand the Company’s performance and compare business trends among different reporting periods on a consistent basis. The Company believes that both management and investors benefit from referring to these non-GAAP financial measures in assessing the Company’s performance and when planning and forecasting future periods. These non-GAAP financial measures also facilitate management’s internal comparisons to the Company’s historical performance. The Company believes these non-GAAP financial measures are also useful to investors in allowing for greater transparency with respect to supplemental information used regularly by Company management in financial and operational decision-making. The accompanying tables provide more details on the reconciliations between GAAP financial measures that are most directly comparable to non-GAAP financial measures.

 

The use of these non-GAAP measures has certain limitations, as the excluded items have been and will be incurred, and are not reflected in the presentation of these non-GAAP measures. Each of these items should also be considered in the overall evaluation of the results. The Company compensates for these limitations by providing the disclosure of the relevant items both in its reconciliations to the U.S. GAAP financial measures and in its consolidated financial statements, all of which should be considered when evaluating the performance of the Company.

 

In addition, these measures may not be comparable to similarly titled measures utilized by other companies, as these companies may not calculate these measures in the same manner as the Company does.

 

 

 

 

About Atour Lifestyle Holdings Limited

 

Atour Lifestyle Holdings Limited (NASDAQ: ATAT) is a leading lifestyle group in China that operates both hospitality and retail businesses. As a leader in quality living, Atour is dedicated to creating an intimate ambiance where people can warmly connect. Guided by its people-serving philosophy, Atour continuously refines its products and services to curate exceptional experiences for every user.

 

For more information, please visit https://ir.yaduo.com.

 

Investor Relations Contact

 

Atour Lifestyle Holdings Limited

Email: ir@yaduo.com

 

Christensen Advisory

Email: atour@christensencomms.com

Tel: +86-10-5900-1548

 

 

 

 

—Financial Tables and Operational Data Follow—

 

ATOUR LIFESTYLE HOLDINGS LIMITED

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS

(All amounts in thousands, except share data and per share data, or otherwise noted)

 

   As of   As of 
   December 31,   June 30, 
   2025   2026 
   RMB   RMB   USD1 
Assets               
Current assets               
Cash and cash equivalents   3,303,949    3,924,845    578,451 
Short-term investments   2,562,745    1,797,192    264,873 
Accounts receivable   341,446    421,368    62,102 
Prepayments and other current assets   675,974    601,404    88,636 
Amounts due from related parties   192,289    191,781    28,265 
Inventories   278,802    173,927    25,633 
Total current assets   7,355,205    7,110,517    1,047,960 
Non-current assets               
Restricted cash   16,223    22,720    3,349 
Contract costs   134,268    139,108    20,502 
Property and equipment, net   225,603    205,596    30,301 
Operating lease right-of-use assets   1,108,548    889,953    131,163 
Intangible assets, net   4,712    3,744    552 
Goodwill   17,446    17,446    2,571 
Other assets   51,905    48,906    7,208 
Deferred tax assets   253,596    244,540    36,041 
Total non-current assets   1,812,301    1,572,013    231,687 
Total assets   9,167,506    8,682,530    1,279,647 
                
Liabilities and shareholders’ equity               
Current liabilities               
Operating lease liabilities, current   230,201    260,815    38,439 
Accounts payable   821,997    1,030,026    151,807 
Deferred revenue, current   701,147    490,881    72,347 
Salary and welfare payable   316,562    292,837    43,159 
Accrued expenses and other payables   1,090,394    1,097,564    161,761 
Income taxes payable   312,302    268,517    39,575 
Short-term borrowings   250,000    235,000    34,635 
Amounts due to related parties   2,886    2,628    387 
Total current liabilities   3,725,489    3,678,268    542,110 
Non-current liabilities               
Operating lease liabilities, non-current   1,042,719    797,006    117,464 
Deferred revenue, non-current   526,439    541,913    79,868 
Long-term borrowings, non-current portion   2,000    2,000    295 
Other non-current liabilities   290,058    303,075    44,668 
Total non-current liabilities   1,861,216    1,643,994    242,295 
Total liabilities   5,586,705    5,322,262    784,405 

 

 

1 Translations of balances in the consolidated financial statements from RMB into US$ for the second quarter of 2026 and as of June 30, 2026 are solely for readers’ convenience and were calculated at the rate of US$1.00=RMB 6.7851, representing the exchange rate set forth in the H.10 statistical release of the Federal Reserve Board on June 30, 2026.

 

 

 

 

ATOUR LIFESTYLE HOLDINGS LIMITED

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (CONTINUED)

(All amounts in thousands, except share data and per share data, or otherwise noted)

 

   As of   As of 
   December 31,   June 30, 
   2025   2026 
   RMB   RMB   USD1 
Shareholders’ equity               
Class A ordinary shares   246    238    35 
Class B ordinary shares   56    56    8 
Treasury shares   (326,400)   (40,834)   (6,018)
Additional paid in capital   1,758,365    758,401    111,774 
Retained earnings   2,195,519    2,714,562    400,077 
Accumulated other comprehensive loss   (34,307)   (59,817)   (8,816)
Total equity attributable to shareholders of the Company   3,593,479    3,372,606    497,060 
Non-controlling interests   (12,678)   (12,338)   (1,818)
Total shareholders’ equity   3,580,801    3,360,268    495,242 
Commitments and contingencies   -    -    - 
Total liabilities and shareholders’ equity   9,167,506    8,682,530    1,279,647 

 

 

 

 

ATOUR LIFESTYLE HOLDINGS LIMITED

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

(All amounts in thousands, except share data and per share data, or otherwise noted)

 

   Three Months Ended   Six Months Ended 
   June 30,   June 30,   June 30,   June 30, 
   2025   2026   2025   2026 
   RMB   RMB   USD1   RMB   RMB   USD1 
Revenues:                              
Manachised hotels   1,299,194    1,725,369    254,288    2,331,377    3,293,417    485,390 
Leased hotels   149,597    131,915    19,442    278,160    250,207    36,876 
Retail   964,849    1,574,522    232,056    1,658,628    2,645,721    389,931 
Others   54,909    58,541    8,627    106,198    112,243    16,543 
Net revenues   2,468,549    3,490,347    514,413    4,374,363    6,301,588    928,740 
Operating costs and expenses:                              
Hotel operating costs   (893,231)   (1,198,048)   (176,570)   (1,629,376)   (2,334,416)   (344,050)
Retail costs   (450,542)   (765,135)   (112,767)   (787,968)   (1,272,395)   (187,528)
Other operating costs   (6,593)   (5,198)   (767)   (14,221)   (9,656)   (1,423)
Selling and marketing expenses   (392,847)   (605,945)   (89,305)   (675,744)   (1,007,109)   (148,429)
General and administrative expenses   (89,546)   (129,917)   (19,147)   (251,359)   (269,801)   (39,764)
Technology and development expenses   (42,574)   (56,838)   (8,377)   (81,955)   (107,249)   (15,807)
Total operating costs and expenses   (1,875,333)   (2,761,081)   (406,933)   (3,440,623)   (5,000,626)   (737,001)
Other operating income, net   2,966    43,981    6,482    17,723    135,246    19,932 
Income from operations   596,182    773,247    113,962    951,463    1,436,208    211,671 
Interest income   22,437    8,758    1,291    41,717    17,885    2,636 
Gain from short-term investments   8,674    11,708    1,726    18,525    23,503    3,464 
Interest expense   (781)   (1,539)   (227)   (1,395)   (3,260)   (480)
Other (expenses) income, net   (9,791)   10,867    1,601    (15,900)   10,892    1,605 
Income before income tax   616,721    803,041    118,353    994,410    1,485,228    218,896 
Income tax expense   (191,871)   (255,114)   (37,599)   (325,982)   (473,817)   (69,832)
Net income   424,850    547,927    80,754    668,428    1,011,411    149,064 
Less: net income attributable to non-controlling interests   619    210    31    1,494    340    50 
Net income attributable to the Company   424,231    547,717    80,723    666,934    1,011,071    149,014 
                               
Net income   424,850    547,927    80,754    668,428    1,011,411    149,064 
Other comprehensive loss                              
Foreign currency translation adjustments, net of nil income taxes   (15,399)   (17,089)   (2,519)   (24,754)   (25,510)   (3,760)
Other comprehensive loss, net of nil income taxes   (15,399)   (17,089)   (2,519)   (24,754)   (25,510)   (3,760)
Total comprehensive income   409,451    530,838    78,235    643,674    985,901    145,304 
Comprehensive income attributable to non-controlling interests   619    210    31    1,494    340    50 
Comprehensive income attributable to the Company   408,832    530,628    78,204    642,180    985,561    145,254 
Net income per ordinary share                              
—Basic   1.02    1.35    0.20    1.61    2.47    0.36 
—Diluted   1.01    1.33    0.20    1.59    2.45    0.36 
Weighted average ordinary shares used in calculating net income per ordinary share                              
—Basic   416,249,651    406,464,388    406,464,388    415,473,352    409,057,566    409,057,566 
—Diluted   419,793,860    410,476,026    410,476,026    419,500,241    413,112,175    413,112,175 

 

 

 

 

ATOUR LIFESTYLE HOLDINGS LIMITED

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(All amounts in thousands, except share data and per share data, or otherwise noted)

 

   Three Months Ended   Six Months Ended 
   June 30,   June 30,   June 30,   June 30, 
   2025   2026   2025   2026 
   RMB   RMB   USD1   RMB   RMB   USD1 
Cash flows from operating activities:                              
Net cash generated from operating activities   766,503    835,227    123,097    768,471    1,127,552    166,181 
Cash flows from investing activities:                              
Payment for purchases of property and equipment   (28,971)   (6,475)   (954)   (48,271)   (10,307)   (1,519)
Proceeds from disposal of property and equipment   -    -    -    4,740    -    - 
Payment for purchases of intangible assets   (152)   (62)   (9)   (227)   (1,790)   (264)
Payment for purchases of short-term investments   (3,224,000)   (5,547,000)   (817,527)   (6,817,000)   (9,739,460)   (1,435,419)
Proceeds from maturities of short-term investments   2,482,370    5,835,180    859,999    5,612,366    10,528,516    1,551,711 
Net cash (used in) generated from investing activities   (770,753)   281,643    41,509    (1,248,392)   776,959    114,509 
Cash flows from financing activities:                              
Proceeds from borrowings   5,000    -    -    35,000    15,000    2,211 
Repayment of borrowings   (10,000)   (5,000)   (737)   (30,000)   (30,000)   (4,421)
Proceeds from stock option exercises   11,885    1,874    276    13,331    5,365    791 
Payment for dividends   (418,188)   (492,028)   (72,516)   (418,188)   (492,028)   (72,516)
Payment for share repurchases   -    (360,235)   (53,092)   -    (753,059)   (110,987)
Others   -    (5,383)   (793)   -    (5,383)   (793)
Net cash used in financing activities   (411,303)   (860,772)   (126,862)   (399,857)   (1,260,105)   (185,715)
Effect of exchange rate changes on cash and cash equivalents and restricted cash   (14,864)   (8,002)   (1,178)   (23,077)   (17,013)   (2,508)
Net (decrease) increase in cash and cash equivalents and restricted cash   (430,417)   248,096    36,566    (902,855)   627,393    92,467 
Cash and cash equivalents and restricted cash at the beginning of the period   3,147,192    3,699,469    545,234    3,619,630    3,320,172    489,333 
Cash and cash equivalents and restricted cash at the end of the period   2,716,775    3,947,565    581,800    2,716,775    3,947,565    581,800 

 

 

 

 

ATOUR LIFESTYLE HOLDINGS LIMITED

UNAUDITED RECONCILIATION OF GAAP AND NON-GAAP RESULTS

(All amounts in thousands, except share data and per share data, or otherwise noted)

 

   Three Months Ended   Six Months Ended 
   June 30,   June 30,   June 30,   June 30, 
   2025   2026   2025   2026 
   RMB   RMB   USD1   RMB   RMB   USD1 
Net income (GAAP)   424,850    547,927    80,754    668,428    1,011,411    149,064 
Share-based compensation expenses, net of tax effect of nil2   1,838    10,302    1,518    103,387    36,785    5,421 
Adjusted net income (non-GAAP)   426,688    558,229    82,272    771,815    1,048,196    154,485 

 

   Three Months Ended   Six Months Ended 
   June 30,   June 30,   June 30,   June 30, 
   2025   2026   2025   2026 
   RMB   RMB   USD1   RMB   RMB   USD1 
Net income per ordinary share - Diluted (GAAP)   1.01    1.33    0.20    1.59    2.45    0.36 
Share-based compensation expenses, net of tax effect of nil per ordinary share2   0.00    0.03    0.00    0.25    0.09    0.01 
Adjusted net income per ordinary share - Diluted (non-GAAP)   1.01    1.36    0.20    1.84    2.54    0.37 

 

   Three Months Ended   Six Months Ended 
   June 30,   June 30,   June 30,   June 30, 
   2025   2026   2025   2026 
   RMB   RMB   USD1   RMB   RMB   USD1 
Net income (GAAP)   424,850    547,927    80,754    668,428    1,011,411    149,064 
Interest income   (22,437)   (8,758)   (1,291)   (41,717)   (17,885)   (2,636)
Interest expense   781    1,539    227    1,395    3,260    480 
Income tax expense   191,871    255,114    37,599    325,982    473,817    69,832 
Depreciation and amortization   12,786    14,464    2,132    25,996    29,092    4,288 
EBITDA (non-GAAP)   607,851    810,286    119,421    980,084    1,499,695    221,028 
Share-based compensation expenses   1,838    10,302    1,518    103,387    36,785    5,421 
Adjusted EBITDA (non-GAAP)   609,689    820,588    120,939    1,083,471    1,536,480    226,449 

 

 

2 The share-based compensation expenses were recorded at entities in PRC. Share-based compensation expenses were non-deductible expenses in PRC. Therefore, there is no tax impact for share-based compensation expenses adjustment for non-GAAP financial measure

 

 

 

 

Key Operating Data

 

   Number of Hotels   Number of Rooms 
   Opened in Q2 2026   Closed in Q2 2026   As of
June 30, 2026
   As of
June 30, 2026
 
Manachised hotels   101    14    2,156    239,389 
Leased hotels   -    -    19    3,137 
Total   101    14    2,175    242,526 

 

      As of June 30, 2026 
Hotel Brand  Positioning  Properties   Rooms 
      Manachised   Leased     
A.T. House  Luxury   -    1    214 
SAVHE  Upscale   2    1    487 
Atour S  Upscale   92    1    12,540 
Atour Origin  Upper midscale   60    1    7,216 
Atour  Upper midscale   1,611    13    183,410 
Atour X  Upper midscale   174    2    18,635 
Atour Light  Midscale   217    -    20,024 
Total      2,156    19    242,526 

 

   All Hotels in Operation 
   Three Months
Ended
   Three Months
Ended
   Three Months
Ended
 
   June 30, 2025   March 31, 2026   June 30, 2026 
Occupancy rate3 (in percentage)               
Manachised hotels   76.2%   70.5%   76.2%
Leased hotels   82.4%   77.5%   82.3%
All hotels   76.4%   70.6%   76.2%
                
ADR3 (in RMB)               
Manachised hotels   429.6    424.5    435.6 
Leased hotels   590.7    574.4    597.4 
All hotels   432.8    426.8    437.9 
                
RevPAR3 (in RMB)               
Manachised hotels   339.9    309.4    343.1 
Leased hotels   513.0    472.3    518.1 
All hotels   343.1    311.6    345.4 

 

   Hotels in Operation for More Than 18 Months in Q2 20264 
   Number of hotels   Same-hotel Occupancy3
(in percentage)
   Same-hotel ADR3
(in RMB)
   Same-hotel RevPAR3
(in RMB)
 
   Q2 2025   Q2 2026   Q2 2025   Q2 2026   Q2 2025   Q2 2026   Q2 2025   Q2 2026 
Manachised hotels   1,442    1,442    77.3%   76.5%   429.4    421.9    344.5    334.1 
Leased hotels   18    18    83.3%   82.2%   576.3    564.1    504.3    486.0 
All hotels   1,460    1,460    77.4%   76.6%   432.0    424.6    347.2    336.8 

 

 

3 Excludes hotel rooms that became unavailable due to temporary hotel closures. ADR and RevPAR are calculated based on tax-inclusive room rates.

4 For any given period, we define “same-hotel” as a hotel that has operated for more than 18 calendar months as of the 15th day (inclusive) of any month within that period. The OCC, ADR and RevPAR presented above represent such metrics generated by “same hotels” in the given period, compared to the corresponding metrics generated by these “same hotels” during the same period in 2025.