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Chinese hotel chain Atour Lifestyle Holdings submits new blank filing ahead of $100 million US IPO

June 21, 2022

Atour Lifestyle Holdings, an upper midscale hotel chain in China, submitted a new blank filing on Tuesday, disclosing plans to raise up to $100 million. The company had previously filed to raise $286 million by offering 19.7 million ADSs at a price range of $13.50 to $15.50, but had not updated its prospectus since November 2021. In its latest filing, Atour Lifestyle Holdings also disclosed updated financials for the fiscal year ending December 31, 2021, and removed Snowball Securities as an underwriter.

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 1,600 SKUs. As of December 31, 2021, the company had 745 hotels in 138 cities in China.

The Shanghai, China-based company was founded in 2013 and plans to list on the Nasdaq under the symbol ATAT. BofA Securities, Citi, CICC, and CMB International Capital are the joint bookrunners on the deal. No pricing terms were disclosed.