ATAT vs WH: Atour Lifestyle Holdings Limited and Wyndham Hotels & Resorts compared
The short version
From the latest prices and each company's SEC filings. Who's ahead on each measure, not which to buy.
- Wyndham Hotels & Resorts is the larger company, worth $5.3B, close to Atour Lifestyle Holdings Limited's $4.7B.
- Atour Lifestyle Holdings Limited grew revenue faster over the last year (+35.1% vs -5.5%).
- Wyndham Hotels & Resorts keeps more of each dollar of revenue as operating profit (30.3% vs 23.6%).
- On earnings, Atour Lifestyle Holdings Limited is the cheaper stock (17.6x vs 28.0x).
Side by side
The stronger figure is shaded where higher (or, for valuation multiples, lower) reads as better. How the implied growth works.
| Measure | ATAT | WH |
|---|---|---|
| Market cap | $4.7B | $5.3B |
| Share price | $33.07 | $74.06 |
| Revenue (last fiscal year) | $9.8B | $1.4B |
| Free cash flow (last fiscal year) | $1.9B | $321M |
| Revenue growth, last year | +35.1% | -5.5% |
| Revenue growth per year, last 5 fiscal years | +46.1% | +3.5% |
| Operating margin | 23.6% | 30.3% |
| Net margin | 16.6% | 14.7% |
| Return on equity | 69.4% | 43.3% |
| P/E (trailing) | 17.6x | 28.0x |
| Price / free cash flow | 2.54x | 16.4x |
| EV / EBITDA | 12.8x | 10.9x |
| FCF growth the price implies | — | 2.4% |
| Dividend yield | 1.6% | 2.3% |
| Debt / equity | 1.90x | 8.03x |
| Fundamental grade | B | C |
| Superinvestors holding it | 1 | 5 |
| Insider purchases, last 12 months | 0 | 0 |
Results from SEC filings
Revenue and free cash flow by fiscal year, from each company's 10-K filings.
Atour Lifestyle Holdings Limited
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $2.1B | $354M | 9.1% |
| 2022 | $2.3B | $247M | 7.3% |
| 2023 | $4.7B | $1.9B | 19.8% |
| 2024 | $7.2B | $1.7B | 22.4% |
| 2025 | $9.8B | $1.9B | 23.6% |
Wyndham Hotels & Resorts
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $1.2B | $389M | 35.8% |
| 2022 | $1.4B | $360M | 41.2% |
| 2023 | $1.4B | $339M | 36.3% |
| 2024 | $1.4B | $241M | 35.3% |
| 2025 | $1.4B | $321M | 28.1% |
Where the revenue comes from
Atour Lifestyle Holdings Limited · by products, 2025
Manachised Hotels$5.3B54%
Retail$3.7B37%
Leased Hotels$590M6%
Others$220M2%
Wyndham Hotels & Resorts · by segments, 2022
Hotel Franchising$1.3B85%
Hotel Management$221M15%
Compare them in fullFifteen years of statements, quarterly results, DCF and IRR models, and any number of peers side by side.
Open ATAT in InvestinglyQuestions
Which is bigger, Atour Lifestyle Holdings Limited or Wyndham Hotels & Resorts?
Wyndham Hotels & Resorts (WH), at $5.3B against $4.7B.
Is ATAT or WH cheaper?
By trailing P/E, Atour Lifestyle Holdings Limited (17.6x) is cheaper than Wyndham Hotels & Resorts (28.0x). A lower multiple can also mean the market expects less growth.
Which grows faster, ATAT or WH?
Atour Lifestyle Holdings Limited: revenue grew +35.1% over the last year, against -5.5%.
Prices and ratios as of the last daily update; statements from SEC filings. Information only, not investment advice.