Atour Lifestyle Holdings, an upper midscale hotel chain in China, filed on Tuesday with the SEC to raise up to $100 million in an initial public offering.
Atour Lifestyle Holdings claims it was the largest upper-midscale hotel chain in China by number of rooms in 2020. The company offers guests a range of products and services through offline and online channels, including its mobile app and WeChat mini program. Atour Lifestyle Holdings has developed a scenario-based retail business within its hotels, incorporating a fully immersive shopping experience in guests' rooms with a range of products representing more than 1,100 SKUs. As of March 31, 2021, the company had 608 hotels in 131 cities in China.
The Shanghai, China-based company was founded in 2013 and booked $279 million in sales for the 12 months ended March 31, 2021. It plans to list on the Nasdaq under the symbol ATAT. Atour Lifestyle Holdings filed confidentially on April 8, 2021. BofA Securities, Citi, CICC, and CMB International Capital are the joint bookrunners on the deal. No pricing terms were disclosed.
