Shanghai-based Atour might be hoping to profit from a rebound in tourism in China as it gears up for a U.S. preliminary public providing.
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GUANGZHOU, China — Chinese hotel chain Atour is exploring an preliminary public providing (IPO) within the U.S. which may worth it at $2 billion, a individual with data of the matter informed CNBC.
The U.S. listing will doubtless happen on the New York Stock Exchange and the corporate is seeking to boost about $200 million to $300 million, the individual stated.
Atour may file for the IPO “very soon,” stated the supply, who was not approved to talk publicly.
The Shanghai-headquartered firm has varied hotel manufacturers at totally different costs from greater finish to extra funds choices. It has opened greater than 600 accommodations throughout 170 cities in China, in response to its web site.
A consultant for Atour didn’t instantly reply to a request for remark when contacted by CNBC.
Atour hopes to benefit from the travel rebound in China after the coronavirus outbreak brought about the nation to close down for a number of weeks in early 2020. With the pandemic largely below management in China, domestic tourism has steadily recovered.
Atour might be competing with China’s personal giant home hotel chains, such a Huazhu Group, which went public in Hong Kong final yr, as effectively as worldwide hotel operators together with Marriott International.
Chinese companies nonetheless view the U.S. as a gorgeous listing vacation spot. On Tuesday, CNBC reported Chinese trucking start-up Full Truck Alliance, may file publicly for a U.S. listing as early as this week.
