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What is the oli...

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What is the oligarchy of chain

Date of release:2018-04-25 Author: Click:

Beijing time March 27th at 10 o'clock, the hotel chain hotel giant GreenTree Inn officially traded on the New York Stock Exchange (hereinafter referred to as "NYSE"), IPO issued a price of 14 US dollars, but the listing is obviously not considered by the capital market, the first day of the market broke.


It is reported that the GreenTree Inn is open to $14 per share, less than analysts' expectations of $16-18 per share, with a total of $143 million, less than half of the planned $329 million. As of press release, the GreenTree Inn was priced at $11.39 per share.


In the A share market, Jinjiang shares and first brigade group recently also released the 2017 performance report. The data showed that Jinjiang's share revenue reached 13 billion 580 million yuan, up 27.7% and net profit of 880 million yuan, and the first brigade hotel in 2017 was 8 billion 420 million yuan, a year-on-year increase of 29%, of which Home Inn's revenue reached 7 billion 50 million yuan, accounting for 83.8% of the total hotel revenue, and the 2017 revenue of the Chinese hotel group with the market share of third was 8. 170 million yuan, an increase of 25% over the same period, net profit of 1 billion 240 million yuan, an increase of 53.8% over the same period last year.


Despite the steady growth of earnings data, the market performance has not changed much. In March 30, 2018, Jinjiang shares, first brigade hotel has announced the annual report, the share price of the same day is 35.41 yuan, 28.4 yuan. Before the press release in April 13, 2018, the share of Jinjiang was 35.33 yuan per share, 0.2% in March 30th, and 28.25 yuan for the first brigade hotel to fall 0.5%.


1996 is the historical moment of the Chinese hotel industry. With the advent of the first Econo Hotel brand, "JinJiang Inn", various brands such as home and Han court have entered the market. A senior hotel practitioner recalled to reporters that from 90s to early 2000, the per capita income level was low, and the Econo Hotel with low price and standardized service became the choice of most travellers.


Econo Hotel's dividend has lasted more than ten years. According to data provided by Wind information, from 2000 to 2012, the total revenue of three star hotels nationwide rose by more than three times from 21 billion 600 million to 69 billion 100 million. This also allows the first gamers such as home, Hanting, Jinjiang star to go public and become oligarchs. According to the data provided by China industry information network, in 2015, 50% of the market share of the Econo Hotel in China was divided by the family, the Han court, the seven day and the JinJiang Inn.


Glory no longer


The barbaric growth of Fasthotel between 2000 and 2009 has been called the "enclosure movement" of the hotel group by the media. At that time, Mr. Zhang (a pseudonym), who worked in a well-known hotel group, told reporters that for hotels, the importance of geographical location was self-evident. It was a long-term strategy for the hotel group to seize the property of a good position. For this reason, many hotel groups did not hesitate to join the fee, or the way of leveraging.


Wind information data show that in the past nine years, China's two or three star hotels increased by more than 6000. Among them, a large number of self operated hotels were pulled into their own camp by oligopoly.


However, in 2013, Econo Hotel welcomed the watershed. The expansion of overspeed and the price war between brands will make investment in hotels heavy and cost rising year by year. The cycle of return on investment is longer and longer. Wind data show that in 2013, the total revenue of the national Econo Hotel has declined year by year. In the case of inflation, the total revenue of the three star hotel in 2016 was retreated to the same level as ten years ago.


In 2015, with the excessive expansion of supply, the industry fell into the most difficult period, and as the OTA channel became higher and higher, the operation of the single or small regional chain Econo Hotel continued to deteriorate in the OTA.


According to the report issued by Zhi Yan consulting, RevPAR (the average rental housing can provide an average income) to about 90, while the operating cost of a single single room is over 90, and the balance of revenue and expenditure has not been balanced.


Zhao Huanyan, chief knowledge officer of Huamei Hotel Consulting Co., Ltd., said that since 2007, the hotel property cost and artificial cost have increased by 30% and 20% per year. In 2012, the overall profit of the star hotel industry in China was 5 billion 46 million yuan, and the three star hotel had a loss of 703 million yuan.


At the end of 2016 to 2017, after the Econo Hotel has gone through crazy expansion, vicious competition and weak meat, it has entered the stage of improving the concentration of the survival of the fittest. The performance of the leading hotel group has recovered, but the market share of the Econo Hotel is declining, but it has become a fact.


According to the "2012 China Econo Hotel industry analysis report", which was issued by the professional advisory body, it has been released in 2012, which shows that the economic growth rate of the guest rooms has declined significantly since 2016. According to data from Mai Dian network, about 166 thousand new businesses were added in 2016, the slowest growth since 2010.


Food snatching at the middle end Hotel


In this context, from 2012 to 2013, almost all of the domestic Econo Hotel giants, such as Hanting, family and GreenTree Inn, entered the middle and high end hotel market, and launched new names and new brands of Logo.


China's tourism research data shows that the middle and end hotels in developed countries account for more than 50%, while in China it is far from this standard. In the environment of continuous increase in per capita income and rising middle population, the middle end hotel has a huge market space in China. 2012, Hanting first high-end hotel brand "Xi Yue", and in the same year, changed its name to the "Chinese hotel group", to promote the medium - end brand "all season", Chinese CEO Aman Chang also said that in 2015, 70% of the growth of pre tax profit in 2015 was made by the end brand "all season". In 2, 2017, China continued to live further, with the United States


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