Atour Group's 2025 revenue is 9.79 billion yuan, unveiling a new three-year strategy to deepen user engagement.

On March 17 Beijing time, Atour Group (NASDAQ:ATAT) released its 2025 fourth quarter and full-year financial results. The report shows that for the full year, Atour achieved operating revenue of RMB 9.790 billion (same currency), representing a year-over-year increase of 35.1%; adjusted net profit of RMB 1.753 billion, up 34.2% year over year; and adjusted EBITDA of RMB 2.481 billion, up 40.0% year over year. Among them, the fourth quarter performance maintained steady growth, with operating revenue of RMB 2.788 billion, up 33.8% year over year; adjusted net profit of RMB 493 million, up 48.0% year over year; and adjusted EBITDA of RMB 712 million, up 60.9% year over year. In 2025, Atour’s total shareholder return exceeded $150 million.

In 2025, Atour’s strategic target of “China Experience, Two Thousand Great Stores” was successfully completed. By year end, the group had 2,015 hotels in operation, up 24.5%. Retail continued its strong growth momentum, with full-year revenue of RMB 3.67 billion, up 67% year over year. At the same time, Atour released its 2026 revenue guidance, expecting full-year revenue to grow 20% to 24% year over year.

Hotel business: balancing scale and quality, with a multi-brand matrix building a moat

In 2025, Atour’s hotel business achieved scale growth while maintaining steady operating quality. In 2025, 488 hotels were newly opened. As of the end of the fourth quarter, the number of reserved projects in the pipeline was 779, laying the foundation for ongoing, healthy expansion. Core operating metrics showed resilience. In the fourth quarter, average revenue per available room (RevPAR) was RMB 335.7, recovering to 99.6% of the same period in 2024, with the recovery rate showing a quarter-by-quarter improvement trend. Core owned-channel operations remained steady. In the fourth quarter, sales nights contribution through the Central Reservation System (CRS) channel was 62.9%; of this, the share of sales nights from corporate agreement sales was 20.8%.

In the mid-to-high-end market, Atour’s latest product, Atour 3.6, continued to receive market recognition for both its hardware and services. In the fourth quarter, Atour 3.6’s RevPAR in hotels in operation exceeded RMB 380. In early 2026, the former Atour 4.0 product was upgraded into the independent brand “Atour Jinyuye” (Atour See the Wild). Its differentiated brand positioning, blending business travel and vacation atmosphere, was highly recognized by the market. For the full year of 2025, RevPAR for Atour Jinyuye’s hotels in operation exceeded RMB 430. As of now, there are 55 Atour Jinyuye hotels in operation, with more than 50 reserved projects in the pipeline. Atour hotels and Atour Jinyuye together have built a more competitive mid-to-high-end brand matrix for Atour.

In the high-end and mid-end markets, Atour also made key progress. The high-end brand “Sahe Hotel” has completed its layout across three cities—Shanghai, Shenzhen, and Guangzhou—covering three stores. Leveraging its unique design aesthetics and scenario-based experience, in the fourth quarter, RevPAR of hotels in operation for Sahe Hotel broke through RMB 950. In the fourth quarter, Sahe Hotel entered into a cooperation with EHL Hotel Management School, and both parties are committed to jointly building a high-end accommodation service system that combines global expression capabilities with Eastern values, better supporting the brand’s long-term development.

The mid-end brand “Qingju Hotel” focuses on Tier 1 and above cities, continuously refining its products and building its brand. By the end of 2025, the number of Qingju 3 series hotels in operation exceeded 160. It has also demonstrated strong operational resilience. In the fourth quarter, the Qingju 3 series hotels’ RevPAR recovery rate was more than 110% year over year, and for the full year, its RevPAR recovery rate was more than 100% year over year.

Retail business: strong growth momentum, strengthening ecosystem synergies and deepening user connection

Atour’s retail business continued a strong growth trend in 2025. Full-year revenue reached RMB 3.67 billion, up 67% year over year, accounting for nearly 40% of the group’s total revenue.

During the reporting period, Atour continued to drive product innovation, expand product categories, and released its Deep Sleep standards to establish product benchmarks, facilitating an upgrade of supply chain capabilities. With solid product strength and brand influence, Atour Star Planet maintained a leading position in the bedding category on major mainstream third-party platforms, and it has gradually strengthened its leading position in China’s sleep market, becoming users’ preferred brand for sleep products.

By product category, the market advantages of pillows continued to be reinforced. In major third-party platform category rankings, they continued to lead consistently. Since the Deep Sleep Pillow Pro series was launched, cumulative sales have already exceeded 10 million units. The duvet category also achieved strong growth, with full-year GMV up more than 90% year over year. In addition, new categories such as bed sheets and pajamas also received positive market feedback, supporting the continuous improvement of Atour’s sleep ecosystem.

An over-one-hundred-million-member system is the cornerstone of ecosystem synergy for Atour. As of the end of 2025, the number of registered members reached 112 million, up more than 25% year over year. In early 2026, Atour and Starbucks China launched a joint membership program, building a life-services ecosystem covering multiple scenarios. Atour stated that in the future, it will further focus on member operations, create a member ecosystem brand that warmly accompanies users’ lives across their entire life cycle, and expand more diverse scenarios—connecting with broader groups of people and deepening emotional resonance with users.

Atour releases a “new three-year strategy,” continuing to expand new space for brand development

Starting from a new point in 2026, Atour Group officially released its next three-year strategy—“China Experience, Brand Leadership.” Atour has always regarded experience as the foundation of its standing. Going forward, it will continue to consolidate its leading advantage in experience and constantly break through its experience offerings. At the same time, it will take the brand as the anchor for development, with a lifestyle brand group as the direction for development; by using the brand to connect scenarios and people, it will deepen the synergy between its hotel and retail businesses, establish deeper emotional resonance with users, and continuously expand new space for brand development.

Guided by its long-term vision of “A Century of Atour, Warmth Along the Way,” Atour said it will continue to strengthen organizational capabilities and its digitalization system, laying a solid foundation for long-term sustainable development, and striving to navigate through time cycles in a changing market environment and achieve higher-quality growth.