202 1 What is the current situation and development trend of the hotel industry?

Major listed companies in the industry: At present, listed companies in the domestic hotel industry mainly include BTG Hotel (600258), Jinjiang Hotel (600754) and Zhu Hua Group (0 1 179. HK), Green Hotel (NYSE: GHG), Lingnan Holdings (000524), Xi 'an Travel (000524).

The core data of this paper: the proportion of hotel rooms and the market concentration of hotel industry.

1. Chain operation has become the development trend of hotel industry.

The hotel operation mode is constantly innovating, and the franchise chain mode is developing rapidly. As far as the brand is concerned, the direct selling mode belongs to asset-oriented development, and there is room for appreciation of hotel property or financing guarantee. The hotel group mainly adopts the light asset export mode of franchise chain, unifying the material supply chain, property service and management, ensuring cash flow, improving net interest rate, rapidly expanding brand influence and reducing financial risks; For single hotels, chaining is helpful to solve the problem of inefficient hotel operation and broaden the business space of single hotels. The hotel industry in China has experienced rapid development for nearly 20 years. At present, the industry has entered the stage of accelerated integration, and chain operation has solved the pain points of traditional hotel industry such as heavy assets and low efficiency.

2. The hotel chain rate in China is increasing year by year, but there is still much room for improvement.

In recent years, the hotel chain rate in China has gradually increased, but it is still far below the level of developed countries. China Hotel Association's "202 1 China Hotel Industry Development Report" shows that there are 2,668 hotel chains in China as of 202 1 and 1. In the future, the hotel industry in China will accelerate its integration and the industry will gradually mature. Therefore, it is inferred that non-chain hotels are expected to transform into chain hotels in the future.

3. The development of domestic hotel chains is uneven.

From the perspective of cities, the ring ratios of first-tier cities, sub-provincial cities, provincial capitals and other cities are 48%, 4 1% and 24% respectively. The ring ratio of first-tier cities and sub-provincial and provincial capital cities is relatively high. Except for first-tier cities, sub-provincial cities and provincial capital cities, other cities have a large room for growth, and there are great opportunities for incremental and stock transformation.

In terms of hotel scale, the chain rate of hotels with more than 70 rooms is relatively high: 15-29, 30-69, 70- 149 and 150 rooms are 6%, 2 1%, 46% and 38 respectively. The chain rate of large hotels is high, while the chain rate of 15-29 hotels is only 6%. This small-scale hotel is generally self-operated, and there is a lot of room for chain transformation.

From the hotel level, the chain rate of luxury hotels is high, which is 53%. The chain rate of budget hotels is low, only 25%. In the future, China economy hotels will have the largest space for chain integration.

For more industry-related data, please refer to Foresight Industry Research Institute's China Chain Hotel Industry Development Prospect Forecast and Investment Strategic Planning Analysis Report.