Atour Lifestyle: A Buy On Retail Growth And Improved Hotel Dynamics (Rating Upgrade)

  • I've turned bullish on Atour Lifestyle, as there are positives for both its retail and hotel units. The retail segment delivered robust GMV expansion at the 618 Festival, which means that a further upward revision in guidance is likely. JD.com's entry into online travel could lower OTA commission rates and boost hotel bookings, benefiting ATAT's hospitality business.