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Budget hotel to get rid of 'economic'

Date: 2019-08-28

As most hotels do big and stronger growth path, after first OYO "strong" seems to be going.On August 24 OYO acquired the owl in Las Vegas Casino Hotel (Hooters Casino Hotel), it is the company for the first time under the background of global expansion in the United States to buy property, in the same way, the move was also in the industry as a "not willing to be positioning for the budget hotels".


OYO ambitions, but also all the hotel's ambitions.For hotel development, the "budget hotel" mode is very suitable for farmland in the early, but after expansion to a certain stage, the upgrade is inevitable, "economy" has become the hotel need to get rid of a tag.


First, remove the "economy" label


For economy hotel, from the popular to get rid of, is the result of the with potential.


Economy hotel, had a brilliant "golden decade", giant, hanting, jinjiang, home inns and 7 days...Led to a wave of listings.But anything is likely to have a good state of development, the inflection point, come soon.


According to huamei hotel consultant chief knowledge officer Zhao Huanyan statistical data show that since 2010, the domestic several big economy hotel group appeared in every room available income.In 2010-2014, home inns per available room revenue decline from 164 yuan to 138 yuan;China lived by 184 yuan fell to 159 yuan;Jinjiang fell to 147.05 from 161.88 yuan RMB.


This slide is not built in a day.Golden period, China's booming market has spawned a large number of the hotel brand and franchisees, but more than ten years in the past, great changes have taken place in the market environment, joining mode without too big change, in addition, the high cost and low prices, compressing the economy hotel's profit space.In addition to a group of early earn rich franchisees, newcomers mostly produced a variety of friction with the hotel.


In economy hotel is still winter, the wind in the hotel industry has change.Rise of consumer upgrades, mid-range hotels, latecomers skip mid-range hotels, budget hotels do our price higher, but compared to the budget hotel health security, a new generation of consumers, don't mind to buy at ease.


Under the strife-torn, to remove the "economy" label, becoming hotel group of self-help.


Second, buy buy buy, adding new brands


By buying other higher-end brands, the hotel industry is almost the most traditional way of "transformation".


From the motel to today's world famous hotel group, marriott's development way, is the road to a "buy buy".From the ritz-carlton to Regis to starwood, step by step, the position of the marriott group now, in those days "motel" also exists only in the hotel's rich history.


OYO decades ago marriott, today.Walked back to numerous investors, OYO capital road all the way to buy, and not just in the hotel, from the home stay facility to co-working to site service company, it is not to guess, OYO nature not only want to make the budget hotel, its ambitions, probably more than hotel.