Forex Early Warning Login

Tuesday, December 28th, 2010 at 9:33 am

forex early warning login

China's budget hotel industry, which has less than 10 years history, has again come under the spotlight. On the one hand, it is the domestic giant Home Inn on an acquisition Spree, on the other hand, it is the rapid expansion of international predators. In less than 4 years, the number of budget hotels in China from 166 in 2004-1476 in October 2007 was grown almost a 1000% growth. Since the industry is more mature, many problems previously swept under the carpet appearance now.

Cost challenge

Compared to normal hotels, rent is cheap key feature of budget hotels, as well as the main reason for the industry's rapid expansion. But since the number of budget hotels in China surges has the biggest budget problem faced by budget hotels now.

"The cost increase is a dire problem for budget hotels. In addition to general Cost inflation, costs associated with activities related expansion were the main reason for cost increases in most budget hotel chains. "Said Hu Sheng Yang, CEO of Shanghai Inntie Hotel Management Consulting. Hu suggested that the concentration of the layer selection of budget hotels and their exponential growth of the numbers in a reduction of the potential Locations out. This intensifies the competition for quality properties between hotel brands, directly to press page cost. Meanwhile, other costs such as Staff, buildings and management rise.

"The situation of the price increase can help rationally, the budget hotel industry has become." Said Cheng Jun, Deputy Chairman of Hanting Hotel Management Group. Compared with a payback period of 1-2 years in the past, Cheng thought that the current amortization period of 3-5 years for budget hotels is more appropriate in a normal market.

Mr Hu also agreed that increase costs the industry more should be concentrated. While some small chains may have to exit through the pressure, large budget hotel brands could accelerate their strategic progress costs, a first-mover position secure in the future.

The withdrawal of Top Star Hotel, now acquired Inn is the point proven. Industry experts noted that in order to quickly find information about companies on the Exchange, Top Star Hotel is building numbers were angry at a prohibitive cost of the 15% higher than the industry average. The failure of Top Star, the Chinese budget hotel industry a warning signal.

Homogeneous Competition

Not only the cost increases, budget hotels in China, also with the Problem of falling income. According to a report on the survey in 2007, the average room price from 328 yuan per day 2005-208 yuan per day in 2006 declined, and capacity utilization also down 89% from 82.4%.

"On the one hand, the increase in hotel numbers, on the other hand, these Hotels in the same position in the market, hence the inevitable price war between budget hotels. "Said Hu. He explained that the early type of budget hotels in China was just a copy of the budget hotel models from Western countries. Once a pilot hotel has been proven successful, would be the same model copied in other cities be by the company. Other new is also the best model, so what's the problem of homogeneous competition in the budget hotel sector. If the industry was at an early Stage, this homogeneity problem could be covered by the strong market demand. But as the industry becomes saturated, consumers can now have even more choice. Hotel operators thus have to lower their prices to attract customers.

But Mr Cheng disagreed and said that the main reason for uniformity rather naive the industry. He pointed out that budget hotels are also "limited Hotels". In developed countries, differentiated demand from different Target groups as the meaning of "limited services" can be very different. Many multinational hotel chains have thousands of hotels, which would 8-12 classes according to different customer requirements, such as tourism and business travel are classified.

"As the market matures, hotel chains will inevitably homogeneous." said Mr Cui Tao, an integrated marketing expert. "The competition between budget hotels in the future no longer be on a business to business basis, but on a collective basis. In this process, rivalry, all aspects of a company, such as branding, culture, business model, cost control, should be combined around a core competitiveness, which can not be replicated easily accessible. "

Management difficulties

predicted "It will be only two types of hotels that can survive in China. Individualised hotels and hotel chains systemic" Mr Cheng. He reckoned that individual hotels can survive on their non-copyable, unique properties, while the advantage of the hotel chains of the scale and quality to be homogeneous.

However, Mr Cui thought that can mean there is a contradictory relationship between quality control and scale, "Larger scale increasing brand risk, but the formation of a brand requires scale. "In this sense, the standardization of budget hotels is not only a matter of personal breakthrough, but a process of structural superiority. "From the administration would be a few hotels to manage dozens of hotels, the methods used to standardized management throughout be different. "Said Cui, who has a profound background in franchise business management has.

Hanting Hotel Group, a relatively new area for the industry shows more caution. It is that in addition to improving the administration of standardized systems understood, Hanting is also strictly control the number of franchisees. are at present only 10% of the hotel chain's Hanting Hotels franchise. Mr Cheng admitted that "franchised hotels to communicate difficult when it comes to standardized management are. Therefore can be improved significantly before our management capability, it would be safer to control the number of franchisees. "

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