1. Competitive echelon of China's hotel industry
In terms of the number of hotel stores, Jin Jiang Hotel, BTG Hotel, Huazhu Group, etc. all have more than 5,000, while the number of Green Hotel stores is 1,000 -5000.
Looking at the regional distribution of enterprises in the hotel industry chain, Guangdong has gathered a number of listed companies in the upstream real estate industry of the hotel industry, including Vanke, R&F Real Estate, etc.; Jiangsu, Zhejiang, Shanghai and Anhui have more hotel operating companies. Including Jinjiang Hotel, Green Hotel, Jinling Hotel, etc., as well as upstream smart hotel solution company iFlytek, etc., and downstream exhibition and tourism companies, such as Songcheng Performing Arts, Miao Convention and Exhibition, etc. There are also some hotels or tourism companies in Beijing, Tianjin, Tibet, Yunnan, etc.
2. Market share analysis of China's hotel industry
Among the Chinese hotel groups in 2021, Jin Jiang International Group, Huazhu Hotel Group, BTG Home Inn Group, Green Hotel Group, Dongcheng Group, Shangmei Life Group, Atour Group, Delu Group, Yibo Hotel Group, Fengyue Hotels and Resorts rank among the top ten in the country in terms of number of guest rooms. Among them, Jinjiang International Group accounts for more than 22% of the number of guest rooms, ranking first in the industry.
According to statistics from the China Hotel Association, the top ten hotel brands in China in 2021 are Vienna, Hanting, Home Inns, GreenTree Inn, All Seasons, 7 Days, Jinjiang Inn, City Convenience, and Thank Inn Chain Hotels. Hotel and Lavande, the top three brands have market shares of 7.11%, 5.81% and 3.88% respectively.
3. Analysis of market concentration of hotel groups
In 2021, based on the number of hotel rooms, the concentration ratio of the top five Chinese hotel groups will be approximately 59%, and the top ten will be approximately 80% , has improved compared with 2020, but there is still a gap in concentration compared with mature markets such as the United States.
4. Evaluation of enterprise layout and competitiveness in China’s hotel industry
From the perspective of hotel business proportion, Junting Hotel, Jinjiang Hotel, BTG Hotel, etc. focus on the development of hotel business. Wanda Hotel Development, Jinling Hotel, Jiuhua Tourism and other companies are also involved in trade, tourism services and other businesses; from the perspective of hotel industry revenue scale, among the listed companies in the hotel industry, Jinjiang Hotels, Huazhu Group, BTG Hotels, Fosun Tourism Companies such as culture have higher revenue; in terms of gross profit margins in the hotel industry, Jinling Hotel, Junting Hotel, Jinjiang Hotel and other companies have higher gross profit margins.
Note: Wanda Hotel Development’s financial report is listed in Hong Kong dollars, which has been converted according to 1 Hong Kong dollar = 0.83 yuan.
5. Summary of the competitive status of China's hotel industry
From the perspective of the five forces competition model, there are currently many hotel brands in my country and low brand concentration, especially the concentration of mid-to-high-end brands. Lower, market competition is more intense; barriers to entry in the hotel industry are low, but in recent years, affected by the epidemic, the hotel industry has suffered serious losses and fewer new entrants; hotels mainly provide short-term accommodation and other services, with few substitutes, and the main trend is Under the consumption upgrade, budget hotels in the industry have been replaced by mid-to-high-end hotels; the suppliers of the traditional hotel industry are mainly hotel supplies, food and beverage manufacturers, with a large number of suppliers and low bargaining power. However, technology suppliers such as smart hotel solutions are Strong bargaining power; consumers of budget hotels are more price-sensitive and do not care about additional hotel functions. Since there are a large number of budget hotels, consumers have certain bargaining power, while mid- to high-end hotels have certain differences in service levels and functions. Consumers who pay more attention to consumption experience have lower bargaining power.
Based on the above analysis, the competition in various aspects is quantified, with 1 representing the largest and 0 representing the smallest. The current five-force competition in my country’s hotel industry is summarized as follows:
—— More books For detailed industry research and analysis, please see the "China Hotel Industry Development Prospects and Investment Strategic Planning Analysis Report" by the Qianzhan Industry Research Institute