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Chinese hotel chain Atour seeks a $2 billion U.S. listing as tourism rebounds

Chinese hotel chain Atour seeks a $2 billion U.S. listing

May 12, 2021: -Chinese hotel chain Atour is exploring an initial public offering (IPO) in the U.S., which could value it at $2 billion, a person with knowledge of the matter told CNBC.

The U.S. listing will likely take place on the New York Stock Exchange, and the company is seeking to raise about $200 million to $300 million, the person said. At our could file for the IPO “very soon,” said the source, who was not authorized to speak publicly.

The Shanghai-headquartered company has various hotel brands at different prices, from higher-end to more budget offerings. It has opened more than 600 hotels across 170 cities in China, according to its website.

A representative for Atour did not immediately respond to a request for comment when contacted by CNBC.

Our hopes to take advantage of the travel rebound in China after the coronavirus outbreak caused the country to shut down for weeks in early 2020. With the pandemic mainly under control in China, domestic tourism has steadily recovered.

A tour will be competing with China’s own sizeable domestic hotel chains, like a Huazhu Group, which went public in Hong Kong last year, and international hotel operators, including Marriott International.

Chinese firms still view the U.S. as an attractive listing destination. On Tuesday, CNBC reported Chinese trucking start-up Full Truck Alliance could file publicly for a U.S. listing as early as this week.

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