The travel product booking for the National Day holiday this year has been started. It can be seen that hotel prices will rise again soon after the sharp rise in summer. At the same time, many hotels have already booked many rooms during the National Day holiday.
On November 11, hotel prices generally increased by 2 to 3 times
Recently, the online travel platform of Pengpai News Search found that it is a "depression" of hotel prices in the near future, and during the National Day holiday, the prices of hotels near tourist attractions in many cities will generally rise more than 2-3 times, whether it is economic hotels or luxury hotels.
For example, in an economic hotel near Xi'an Datang Furong Garden, the lowest room price before the National Day holiday is 257 yuan/night, and the cheapest room price during the National Day holiday on October 1 and October 2 is 813 yuan/night, 3.16 times the usual price.
Another economy hotel within 300 meters from the entrance and exit of Xi'an Datang Night Inn, the lowest price on weekdays is only 307 yuan/night, while the lowest price for rooms checked in on September 29 and 30 is 790 yuan, 2.57 times the usual price; The minimum price of the guest room on October 1 and October 2 was 930 yuan, 3.03 times the normal price.
The minimum daily price of a mid end hotel less than 100 meters away from Xi'an Datang Night Inn is 420 yuan, and the minimum daily price for staying on September 29 is 1371 yuan/night, 3.26 times the daily price; The minimum price for staying on September 30 is 1469 yuan/night, 3.5 times the normal price; The minimum price for staying on October 1 and October 2 was 1665 yuan/night, 3.96 times the daily price.
Hotels near popular scenic spots have sold out
The surging news search found that there were many hotels near the popular scenic spots of many popular tourist destinations in China, especially the parent-child rooms, which had been booked up during the National Day holiday.
For example, near Chengdu Tianfu Square, a parent-child hotel has already booked 4 rooms during the National Day holiday.
The Hunan Museum in Changsha, located within a straight-line distance of 2 kilometers from a luxury hotel, was booked for six rooms including suites and parent-child rooms during the National Day holiday.
A luxury hotel located in the North Third Ring Road of Beijing has no room to book from September 26 to October 3. The staff replied: "All are sold out."
According to the data released by Ctrip, as of August 30, the search heat of the domestic hotel market during the holiday has more than quadrupled over the same period of November 2022, an increase of nearly 120% compared with the same period of November 2019.
Economy hotel is no longer "economical"?
It is worth noting that since this year, the topic related to hotel price rise has been frequently searched in various holidays and summer vacations. In particular, the economy hotel is no longer "economical" and the room price is "close to" luxury five-star hotel.
However, the surging news search found that, although the economic hotels increased significantly during the holidays, they still could not match the luxury five-star hotels in terms of price.
Take the Wangfujing area of Beijing as an example. For example, the minimum price of Hanting Hotel Beijing Wangfujing is 441 yuan/night on weekdays, and the minimum price of staying on October 1 is 818 yuan/night, 1.85 times the daily price. The minimum price of Beijing Hotel Nuojin Wangfujing is 1049 yuan/night on weekdays, and the minimum price for staying from September 29 to October 4 is 1812 yuan/night, 1.73 times the normal price; The minimum daily stay price of Beijing Wangfu Peninsula Hotel is 2353 yuan/night, and the minimum daily stay price on October 1 is 3344 yuan/night, 1.42 times the daily rate.
On the other hand, the price increases of the same type of hotels are different in different locations.
Taking Home Inn · neo as an example, the lowest daily price of Home Inn · neo Beijing Qianmen Street near the National Museum of China is 453 yuan/night, and the lowest room price for staying from October 1 to October 5 is 1088 yuan/night, 2.4 times the daily price. Home Inn · neo Beijing Chaoyang North Road Shilibao Metro Station, located outside the East Fourth Ring Road, Beijing, has a daily minimum price of 340 yuan/night, and the minimum room price for staying from October 1 to 3 is 567 yuan/night, 1.66 times the daily price.
The average daily room price of several hotel groups in the second quarter increased by more than 30% year on year
It can be seen that since this year, hotel prices across the country have generally risen, which is not just the "feeling" of tourists.
The surging news combed the financial reports of major hotels in the second quarter and found that the performance of accommodation industry indicators of domestic and foreign hotels in the second quarter of this year was far higher than that of the same period last year, even higher than that of the same period in 2019.
Among them, ADR (average daily room rate) of hotels under several major domestic hotel groups in the second quarter increased by more than 30% year on year.
Specifically, the ADR of hotels in China under Huazhu Hotel was 305 yuan/night, up 39.8% year on year and 28.9% year on year; ADR of hotels under Yaduo Group was 474.8 yuan/night, up 31.23% year on year and 9.75% year on year; The ADR of the hotels under Shoulv Hotel was 240 yuan, up 32.8% year on year; The ADR of the limited service hotels in China under Jinjiang Hotel was 247.37 yuan/night, up 16.15% year on year.
Data source: financial reports of listed companies
From the data of major overseas hotels, since this year, affected by China's measures to remove epidemic isolation, several overseas hotel groups have performed significantly better in the accommodation industry indicators in Greater China (or the Asia Pacific region) than the overall and other regions of the world, of which the occupancy rate is almost the same as the overall, and RevPAR has increased by more than 75% year on year, Among them, the RevPAR of Marriott Hotels in Greater China in the second quarter increased by 125.2% year on year; The average daily room price also increased rapidly compared with the overall.
For example, the ADR of Marriott Hotels in Greater China in the second quarter of this year was 124.03 dollars/night, up 31.5% year on year, 25.5 percentage points higher than the overall hotel data of the group; The ADR of Hyatt Hyatt's Asia Pacific managed and franchised hotels was 162.38 dollars per night, up 25.7% year on year, 21.2 percentage points higher than the group's overall hotel data; The ADR of Hilton's Asia Pacific hotels was $111.88 per night, up 25.4% year on year, 19.5 percentage points higher than the overall hotel data of the Group.
Data source: financial reports of listed companies
In the second quarter, the number of national star rated tourist hotels decreased by 35% compared with the middle of 2019
Some insiders pointed out that the price rise of hotels has many factors, including changes in supply and demand, "retaliatory consumption" after the epidemic, rising hotel costs, and the iterative upgrading of economic hotels.
In an interview with the surging news, an executive of a listed hotel group said frankly: "The price must be related to the supply and demand of the market."
From the supply side, after three years of epidemic, the supply of domestic hotels has decreased significantly.
According to the statistical report on national star rated hotels issued by the Ministry of Culture, Tourism and Tourism of China, in the second quarter of 2023, a total of 6663 star rated tourist hotels (hereinafter referred to as "star rated hotels") passed the review. As of June 30, 2019, there were 10284 star rated hotels in China; In the fourth quarter of 2019, there were 10130 star hotels in the national star hotel statistical management system, 8665 of which were completed, and 7434 of which were approved.
In terms of quantity, in the second quarter of this year, the number of star rated hotels nationwide decreased by 35.21% compared with that in 2019, more than 30%.
Specifically, in the second quarter of this year, the number of low star hotels (one star, two star and three-star) in the national star hotels decreased significantly compared with that in the middle of 2019 and the fourth quarter of 2019, of which the number of one star hotels decreased the most. Only 8 hotels passed the audit this year, 89.04% less than that in the middle of 2019. While the number of high star hotels (four-star and five-star) has decreased compared with that in mid 2019, they all exceed the number of high star hotels in the fourth quarter of 2019.
Data source: official website of the Ministry of Culture, Tourism and Tourism of China
From the demand side, the demand for domestic business travel and tourism vacation has recovered more than expected since this year.
An industry analyst who did not want to be named said that, compared with the rapid rebound of the demand side, the repair of the supply side needs a relatively long cycle, and this year's concentrated release of holiday travel demand has further exacerbated the current problem of insufficient supply, especially the serious shortage of accommodation facilities in popular tourist destinations, so the price rise is inevitable.
The first is the economy hotel. "When the demand of the hotel industry increases, the price adjustment is also a normal behavior in the market." The above listed hotel group executives pointed out.
More demand has pushed up the prices of some economic hotels with excellent geographical locations, so that economic hotels have become "assassins".
Chen Yu, the president of 7 Days Hotel brand, pointed out in an interview with the surging news recently that the so-called "price assassins" of economic hotels all happen in high line cities. During the peak season, there is frequent demand and a large number of people are introduced. At this time, the resources of the hotel itself, which occupies a scarce position, are very valuable.
"The price is not that the hotel has to go up, but that the supply and demand relationship of the market naturally shows this trend." Chen Yu explained, "and you can see that there is a clear distinction between the off season and the peak season. Once entering the off season, the price will fall back immediately. This is an obvious natural market pattern of supply and demand relationship."
The number of tourists in several scenic spots breaks through the threshold in advance
The "retaliatory consumption" after the epidemic can be seen from the May Day holiday and summer vacation this year.
According to the data disclosed by the Ministry of Culture and Tourism, the number of tourist trips during the "May Day" holiday exceeded the level of the same period in 2019, and the travel distance and consumption activity reached a record high.
During the summer vacation, scenic spots across the country are full, and popular museums are "hard to get a ticket". The number of tourists to many tourist attractions has exceeded the threshold ahead of time: as of 7:15 on August 21, the number of tourists received by Huangshan Scenic Area has exceeded 3 million, 60 days ahead of 2019, which is the earliest year for Huangshan Scenic Area to exceed 3 million in history; On August 27, the number of visitors to the Shenyang Palace Museum broke through 3 million, a record high in the number of visitors since its establishment in 1926. In addition, as of August 28, the revenue of Atlantis Sanya has reached about 1.32 billion, basically equal to the revenue of 2019.
Among them, the most important consumption comes from parent-child customers. Some insiders in the tourism industry pointed out that children could not travel far away after three years of the epidemic, and this demand was concentrated this year.
Qunar's report once predicted that 2 million domestic child tourists will buy "the first ticket in life" this summer. Qunar's data released in July this year showed that among the children who bought the "first ticket in life", the proportion of children aged 6-12 years accounted for 33%, with a growth rate of more than 60% compared with 2019; 63% aged 2-6; In addition, 4% of "small" passengers have their first baby tickets.
However, a child tourist has obvious ability to drive tourism consumption. Qunar's report points out that one child passenger means that one or two adult passengers will travel together, and the proportion of tourists who take children to travel to book high star hotels reaches 41%, higher than the average (30%); The comprehensive consumption of catering and scenic spot tickets is 1.4 times that of ordinary tourists.
According to the data released by the National Bureau of Statistics, summer travel increased significantly in July, and the prices of air tickets, tourism and hotel accommodation rose 26%, 10.1% and 6.5% month on month respectively; In August, the prices of air tickets, tourism and hotel accommodation rose 17.6%, 14.8% and 13.4% month on month respectively.
Premium for earlier versions of economy hotels after iteration
The rising cost and iterative upgrading of the hotel also affect the price of the hotel to a certain extent.
Zhang Gequan, vice president of Junting Hotel Group, said in an interview with the media that the increase of the hotel's personnel cost has increased a lot (times), and the cost of rent and house is also high.
On the other hand, with the gradual "aging" of the first generation of economic hotels, each chain hotel platform will gradually upgrade them.
The executives of the above listed hotel groups pointed out that the economy hotel has developed rapidly since 2006 and 2007, and reached the "old age" in 2017 and 2018. Now the economy hotel of the old generation has fallen behind.
Recently, the "7 Days" hotel brand, one of the earliest economic hotels, has gone through 18 years. At the same time, in September this year, the "3.0 version" of the 7 Days brand update iteration exceeded 100 stores. Take 7 Days Inn · Shanghai Lujiazui Shimao Riverside Garden Store as an example. The old store upgrade adopts the mode of "restructuring+demolition". After the old store renovation, the RevPAR (average saleable room income) has increased by more than 100 yuan, the monthly average price has reached 333 yuan, and the GOP (Gross Operating Profit) rate has reached 65%.
According to the data obtained by Splash News, ADR of 7 Days Hotel 3.0 in the first half of this year increased by 48.5% year on year, and the highest monthly data of RevPAR exceeded the light and middle end hotel brand by 31 yuan, with a premium of 60 yuan compared with the earlier version.
"A lot of people can't accept the price increase of economy hotels, in fact, they don't accept the price increase of economy hotels of the old generation." A hotel industry person said, "The market just doesn't accept the old economy hotel products that don't change."
Chen Yu said that in terms of China's current overall population income structure and overall per capita consumption level, the absolute number of economic hotels will still occupy the absolute mainstream in the next 5-10 years. "Seven days is mainly for young people after '85' - '00', whose price range is from 175 yuan to 196 yuan, which perfectly fits our positioning." Chen Yu said that seven days is for mainstream business people, "young people travel very frequently, but the average price is not high. After the epidemic, the trend of people pursuing cost-effective consumption or rational consumption is more obvious."
It is worth mentioning that more tourists prefer trendy and distinctive hotel products. According to the public review data, 379 hotels were listed for the first time in this year's "must stay list", accounting for more than 40%.
In terms of the types of hotels on the list, 355 hotels are listed with the theme of "natural scenery", 290 hotels are listed with the theme of "parent-child fun" and 210 hotels are listed with the theme of "urban beauty". The cities on the list are mainly first tier and second tier cities, with Beijing having the largest number, 73 in total; There are 67, 58, 50 and 48 hotels in Shanghai, Hangzhou, Suzhou and Nanjing respectively. In addition, there are also a small number of cities on the list: Xishuangbanna and Qinhuangdao were newly added to the list for the first time, and a total of 21 hotels were selected.
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