Atour Lifestyle, a leading Chinese hospitality and lifestyle company listed on NASDAQ, reported a 6.5% decline in its RevPAR (revenue per available room) for the second quarter this year.
But a deeper analysis into the data reveals a growing trend in the hotel group’s corporate travel and retail segments.
Corporate agreement accounted for 19.3% of total room nights sold, an increase of 0.9 percentage points year-on-year. Among the Chinese hotel groups that have released their financial reports, Atour is leading in the proportion of corporate hotel bookings.
The weakness in business travel demand has had a relatively greater impact on Atour's RevPAR decline. Additionally, the company's higher concentration in first- and second-tier cities has significantly contributed to this decline.
Atour's retail business GMV grew 157.6% year-on-year to 620 million yuan (USD 87 million), with over 90% generated from online channels. Based on this figure, the average retail GMV per hotel in Q2 was 45,689 yuan (USD 6,426), translating to about 400 yuan (USD 56) per room.
Further calculations indicate that the company’s retail GMV per hotel is about 502 yuan (USD 71) per day. Atour's retail business still has significant room for improvement in offline conversion efficiency.
