The turning point of the industry has arrived, and the stock market pattern of high-end hotels has changed again.

The fire of hotel industry reform has reached the high-end hotel stock market.

In 2020, the black swan caused the hotel industry in China to press the pause button, and it was not fully recovered until 202 1.

The epidemic led to the depression of the industry. In the eyes of some people in the industry, this is another "catalyst" for industry reshuffle after the state issued the policy of "only renting and not selling, self-sustaining property" in 20 17. From the overall development, the hotel industry in China has experienced more than 40 years of development, and the market share of hotel property is close to saturation. According to prospective economics, the number of hotels in China hotel industry slowed down from 20 17 to 20 19. Compared with 7.9% in 20 17 and 2.8% in 20 19, the further decline in 2019 was only 2%.

Nowadays, although the hotel industry in China has not yet entered the mature hotel market stage in developed countries such as the United States, it is gradually moving from the incremental era to the stock era due to the scarcity of core properties and other factors.

Zhang Rungang, Vice President and Secretary General of china tourism association, once said publicly: "The saturation of the economy hotel market is becoming more and more obvious, and the space for future growth is relatively narrow. High-end brand hotels may become the next outlet for the development of the accommodation industry. " This may also be the case. According to public data, high-end hotels in China account for about 27% of the hotel industry, while budget hotels account for 65%, and the chain rate is less than 22%. The proportion of high-end hotels in the United States is 50%, the economy is 30%, and the hotel chain rate is over 70%.

Compared with the past, the hotel industry continues to explore the economy hotel market. By 2020, the turning point of China hotel industry has arrived.

Controversy over the stock of brand chain

In recent years, the consumption of nearly 400 million middle class in China has escalated, and the epidemic situation is severe. Although outbound travel is still firmly banned, the domestic tourism economy has started the "internal circulation" mode, and the return of high-end outbound travel consumption will also drive the potential demand of the domestic high-end hotel market. During the Golden Week, Ctrip's four-star and above high-end hotel orders accounted for nearly half of the total orders.

At the same time, unlike the high risk resistance of chain hotels, single hotels have been hit hard by the epidemic. Some experts in the industry pointed out that the fast-forward button was pressed in the process of single hotels being chained by hotel groups affected by the epidemic, and there may even be the possibility that small and medium-sized chain hotels will be merged and reorganized.

In the stock market of high-end hotels in first-and second-tier cities, the smell of smoke has also initially permeated. In the transformation of high-end hotel stock market, foreign brands have the advantage of being pioneers by virtue of their experience, technology and management concept. Even in 2020, Hilton Group will expand dozens of high-end hotels in China.

In the same year, Intercontinental Hotels Group (IHG) announced that its high-end hotel brand voco brand officially entered China. In mid-September, Hao Ming voco Hotel, the first voco brand hotel in Hangzhou, officially opened. Wang Lin, chief marketing officer of IHG Greater China, once explained to the media: "In the first half of 2020, IHG share conversion projects accounted for a quarter of the total contracted volume. Therefore, in the current environment, we believe that now is the right time to introduce the voco brand. "

Meanwhile, Yihang Hotel, a high-end boutique hotel brand owned by Intercontinental, has 65,438+02 hotels under construction in China.

Foreign-funded hotels continue to penetrate into the hinterland of China hotel market, which is bound to avoid confrontation with domestic brands. Although Zhu Hua tried to rely on hotels to achieve "one thousand stores" in the sinking market, it did not stop in the high-end hotel market. Miracle, founder of Zhu Hua Group, publicly stated that Zhu Hua will continue to increase the number of high-end brand stores in the future and complete the layout of 500 stores in 2023.

However, it is worth mentioning that most hotel groups pursue the development of diversified brands, which leads to a dazzling array of chain brands in China hotel market. According to the Annual Development Report of China Hotel Management Company (Group) 20 19, there are 492 brands in the top 70 hotel groups, and the brands under the hotel groups are complicated, which is followed by increasingly fierce competition among brands.

The intersection of single hotel

Under the background of chain brand hotels constantly competing for the stock market, investors of single hotels are also making choices. They have made various investigations and comparisons among domestic chain brands, and choosing a suitable hotel brand to join is one of their most important things at present.

The epidemic in 2020 made the profits of single hotels of hotel investors Mr. Liu and Mr. Wu go from bad to worse. I have considered it again and again for various reasons before, but finally I failed to join the hotel chain. But now, it didn't take them long to make a decision to join the brand chain.

Mr. Liu, an investor of Atour X Hotel in Shenzhen Longhua Dalang Commercial Center, came into contact with Atour on a business trip and stayed at the hotel. He was moved by Atour's rich humanistic temperament and warm accommodation experience, and came up with the idea of becoming a hotel with temperature. Later, when the hotel was just renovated, he also considered joining Atour, but perhaps the opportunity didn't come and he missed it for various reasons. However, in the presentation of the final hotel, we can see some shadows of Yaduo, so "in this big wave business circle, although the hotel is not the highest price, the guest recognition and repurchase rate are not bad." Mr. Liu said.

The sudden outbreak of COVID-19 changed all this. Mr. Liu made an account with the joint investors. If they still follow the style of a single brand hotel, it is difficult to make a profit under the current circumstances. Joining a strong chain system is their conclusion.

After many trade-offs, Atour's brand concept, management output ability and huge membership system made Mr. Liu finally cooperate with Atour and come together.

In the hotel industry in South China market, many investors hope to establish their own hotel brand. However, there is always a distance between reality and dreams.

Unlike Mr. Liu, who has just entered the hotel industry, Lao Wu, who is called "Jie Xiaodong for Blessing" by his friends, is an old hand in this industry. Ten years ago, Lao Wuran opened a boutique hotel with his own brand on Qifu Road in Guangzhou. He mentioned the grand opening of the hotel in his speech, full of pride. With the rise of surrounding business districts and other hotel brands, Lao Wu's hotel business is not as good as before.

Renovation and upgrading is the best way that Lao Wu thinks. At that time, Atour's room style also became the main direction of renovation reference. What Lao Wu didn't expect was that the superposition of hotel decoration and COVID-19 epidemic caused the hotel business to drop to freezing point, and some rescue measures were also a drop in the bucket. Just when he was at a loss for the hotel business, his friend recommended "Atour X Hotel". "We also inspected many hotel brands at that time and found that the tonality and bargaining power of the Atour brand in Shenzhen was really good." Lao Wu is convinced of the brand and service of Atour and knows that it is time to enter the Atour family. Last June, 5438+ 10, "Guangzhou Clifford Road Atour X Hotel" was listed.

In the process of flop transformation, Lao Wu deeply realized the "warmth" of Atour.

In the past, the toilet sewer pipes in Laowu Hotel were all straight pipes. After each use of the bathroom, the vibration caused by water hitting the pipe wall will produce great noise, which will affect the occupancy experience. During the renovation of Atour X Hotel, Atour supervisor found this problem and insisted on changing the straight pipe into spiral pipe, which greatly reduced the noise. Not only that, in order to create a better experience for users, they also thickened the walls and made sound insulation treatment. ...

During the conversation, Lao Wu recalled Kia Duo's pursuit of service details since its opening, which was both emotional and admirable. Big Ben, the general manager of Atour's store, showed the author such a set of data: "Atour X Hotel Guangzhou Qifu Road" opened in mid-June last year at 5438+ 10, and its score in Ctrip has climbed from 4.2 to 4.8.

New forces came into play.

As a "player" in the new high-end market stock transformation, Atour endows the brand with higher premium ability by virtue of its unique life concept, and forms distinct market and user cognition through products and services, thus enhancing the brand value. Atour is located in more than 70 cities in China/kloc-0, and has been awarded the title of "China High-end Chain Hotel" by China Hotel Association for three times since 20 18.

At present, Atour has entered the high-end stock market by promoting the new brand "Atour X Hotel", and has so far launched four hotels in Shenzhen, Guangzhou, Chongqing and Xiamen.

"As the highest quality non-standard brand in China, we allow individualization and diversity of hardware styles, but the consistency of soft services and user experience needs to be maintained. The overall recovery speed of many boutique single hotels in this epidemic should be said to be far lower than that of chain brands, especially the rapid recovery of Atour hotel business, which gave great confidence to the single hotel investment owners. Many high-quality boutique hotels have taken the initiative to find Atour and hope to join Atour's big family. " Fei Yu, president of the Hotel Division of Atour Group, said frankly.

It is understood that most of the single hotels consulting to join Atour are local high-quality hotels, and some even carry out construction and decoration according to five-star hotels in a relatively short period of time. "If you join a standard product like Atour or Atour S, you must smash it before you do it. This is a waste. " Non-fish pointed out, "Atour X Hotel is built for this kind of hotel, and the lighter investment can meet the requirements of our Atour for user experience standards. Coupled with Atour's well-known quality and operational capabilities, these hotels will greatly enhance their original accommodation experience and business data. "

In addition, in the post-epidemic era, the highest priority factor for single hotel to join brands is whether hotel brands can bring accurate and rapid return on assets. Non-fish said that the closed-loop income of Atour has now been formed, and the consumer repurchase rate of Atour Hotel is 30% higher than that of hotels in the same industry.

In 20021year, Atour extended the strategic layout of Atour X Hotel to the whole country.

However, no matter what factors lead to the changes in the form of the hotel industry, the hotel's loyalty to the needs of users has been the only rule since ancient times. As Ye Zeng, founder and CEO of Atour Group, said at the product trend conference: "The standard of defining a hotel should be what the hotel can meet the needs of users."