Atour Lifestyle reports Q2 2026 results, raises retail growth guide

Atour Lifestyle Holdings (NASDAQ: ATAT ) held its second-quarter earnings conference call on Thursday.

Below is the complete transcript from the call.

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For comprehensive financial data and transcripts, visit The full earnings call is available at Summary Atour Lifestyle Holdings reported a 41.4% year-over-year increase in net revenues to RMB 3,419 million for Q2 2026, driven by expansion in the hotel network and retail business growth.

The company opened 101 new hotels in the quarter, with a total of 2,175 hotels in operation, and maintained a pipeline of 811 hotels under development.

RevPAR for the hotel business showed strong performance, with the Atour Origin brand achieving RevPAR exceeding RMB 450, and the Sahe brand surpassing RMB 1,000.

Retail business revenues increased by 63.2% year-over-year, driven by product innovation and expansion in categories like the Deep Sleep Memory Foam Pillow Pro series.

Management maintained a positive outlook for 2026, expecting total net revenues to increase by 30% year-over-year and raised retail revenue growth guidance to 40% year-over-year.

The company is focused on delivering high-quality and differentiated experiences in both the hotel and retail segments, emphasizing brand strength, customer experience, and operational efficiency.

Despite a slight decline in adjusted net profit margin and EBITDA margin, the company remains committed to capability building and shareholder returns, with a share repurchase program exceeding US$150 million.

Full Transcript OPERATOR Ladies and gentlemen, thank you for standing by and welcome to the Atour Lifestyle Holdings second quarter 2026 earnings conference call.

At this time, all participants are in a listen-only mode.

After the speaker's presentation, there will be a Q&A session.

Today's conference is being recorded.

I would now like to turn the conference over to Mr.

Luke Hu, IR Director.

Please go ahead, sir.

Luke Hu, IR Director Thank you, Operator.

Good morning and good evening everyone.

Welcome to our second quarter 2026 earnings conference call.

Today you will hear from our founder, chairman and CEO Mr.

Wang Haijun and our EVP, Co-CFO Mr.

Wu Jianfeng.

Before we continue, please be aware that today's discussion will include forward-looking statements under federal securities laws.

These statements are subject to various risks and uncertainties and the actual results may differ significantly from what is stated or implied in our comments.

The company is not obligated to update any forward-looking statements except as required by applicable laws.

Additionally, during this call, our management will discuss certain non-GAAP financial measures solely for comparison purposes.

For a clear understanding of these measures and a reconciliation of GAAP to non-GAAP financial results, please refer to the earnings release issued earlier today.

Furthermore, a webcast replay of this conference call will be accessible on our website at ir.yaduo.com where a copy of the results presentation is also available.

Now I will turn the call over to Mr.

Wang, our CEO.

Wang Haijun, Founder, Chairman and CEO Thank you, Luke.

Hello everyone.

Thank you for joining Atour's second quarter 2026 earnings call.

Please turn to our results presentation.

In the first half of 2026, China's consumer market continued to show diverging performance.