An IPO Case Analysis of Atour Hotel

Abstract

In the context of the reform of the registration system, formal examination does not mean that the issuance standard is lowered, nor is it equivalent to an increase in the success rate of listing. By observing the real passing rate in 2023, it can be found that the listing performance of enterprises is still not satisfactory, and if enterprises want to make listing attempts, they still need to make corresponding efforts to meet the review standards. Based on the three IPO failures of Atour Hotel in 2019-2020 and the successful landing experience, this paper uses the case study method and literature review method to comprehensively analyze the internal and external reasons respectively, and obtains the methods to improve their own listing advantages, such as flexibly selecting the listing location, publicizing the differentiated advantages of the enterprise, and optimizing the internal management system of the enterprise, so as to provide corresponding reference for the subsequent enterprises that plan to go public or have listing plans, hoping to improve the listing success rate of the follow-up enterprises. A longitudinal comparison of the performance of Atour Hotel before and after listing is made to discuss the reasons why companies choose IPO and the impact of IPO on the long-term development of enterprises.