Atour Lifestyle Holding Limited is a China-based hospitality and retail company that operates a network of lifestyle hotels across seven branded properties serving midscale to luxury segments, using a hybrid "manachise" model that combines management and franchise arrangements with some directly operated leased hotels. The company generates revenue from franchise and management fees, hotel supplies sales, direct hotel operations, and a centralized membership loyalty program that drives a significant portion of bookings. Additionally, Atour operates a retail business focused on sleep-related products sold primarily through e-commerce channels, including proprietary digital platforms and third-party marketplaces, competing on brand recognition, pricing, service quality, and customer loyalty programs in China's hospitality and retail sectors.