News: Strong growth in retail and hotel management business drives Atour's revenue surge
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Atour Lifestyle Holdings Limited announced its Q1 2023 financial report, with revenue increasing by 47.5% year-on-year to RMB 2.81 billion (USD 414 million), surpassing last year's RMB 1.91 billion. Revenue from hotel management business grew by 51.9% to RMB 1.57 billion, while revenue from leased hotels decreased by 8% to RMB 118 million, and revenue from retail business increased by 54.4% to RMB 1.07 billion. Net profit surged by 90% year-on-year to RMB 463 million. Following the earnings announcement, Atour's US stock fell by 3.4%, with a cumulative decline of about 6% this year
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