In 2024, the demand for tourism consumption continues to be released, and all parts of the country actively respond to the national call of "shaping tourism with culture and complementing culture with travel" to promote the development of cultural tourism.
According to the data of the Ministry of Culture and Tourism, the number of domestic tourists in the first quarter of 2024 reached 1.42 billion, +16.7% year-on-year; Domestic tourism revenue reached 1.5 trillion yuan, +17.0% year-on-year; Domestic tourists spent 1070.4 yuan on average, the highest level in the past five years. According to the estimation of the data center of the Ministry of Culture and Tourism, the total number of domestic tourism trips in 2024 was 295 million, +7.6% compared with the same period in 2019, +28.2%; Domestic tourists spent a total of 166.89 billion yuan, +12.7% year-on-year and +13.5% over the same period in 2019. It can be seen that people's cultural tourism demand has entered the outbreak stage, injecting strong market vitality into the hotel market.
In the first quarter of 2024, the number of newly opened hotel stores in the country was 11,400, and the number of newly opened chain hotel stores in the country was 1,537, accounting for 13.5% of the number of newly opened hotel stores in the country. Among them, the growth rate of new opening of 3-5 star chain hotels in first-tier and new first-tier cities has increased significantly. The monitoring data of AVC shows that: in the first quarter of 2024, 4308 new hotels in 19 cities of first-tier and new first-tier cities have opened, of which 444 new 3-5 star chain hotels in 19 cities have opened, +46.1% year-on-year; The number of newly opened rooms was 43,900, +21.0%.
Ovi Cloud Network (AVC) "2024Q1 19 city newly opened high-end chain hotel market Quarterly Report" summarizes the overall hotel market presents the following characteristics:
Analysis of wine management group: Huazhu, Yatuo, Jinjiang ranked the top three, Marriott, Junting, Yatuo growth rate bright
AVC monitoring data shows: In the first quarter of 2024, the TOP10 new 3-5 star chain hotels in 19 cities of the first tier and new tier are Huazhu Group, Yatuo Group, Jinjiang Hotel (China), etc. Among them, the newly opened hotels in 19 cities of Huazhu Group are mainly mid-range hotels, 87 of which opened in the first quarter of 19 cities, accounting for 84.5%. Its TOP1 brand all season hotels opened 69 in the first quarter of 19 cities, accounting for 67.0%, +18.7% year-on-year. The newly opened hotels in 19 City of Yatuo Group are mainly medium and high-end hotels, with 30 hotels in 19 City opened in the first quarter, accounting for 73.2%, and 26 hotels in 19 City, its TOP1 brand Yatuo Hotel, opened in the first quarter, accounting for 63.4%. From the growth point of view, Marriott International Group, Junting Hotel Group, Yadou Group growth rate bright, the first quarter of 19 cities newly opened 3- to 5-star chain hotel stores +250.0%, +200.0%, +173.3%, room volume +265.0%, +328.5%, +195.0%.
Hotel grade analysis: Mid-range and 3-star hotels are still the main market, with large market size and fast growth
In the first quarter of 2024, the newly opened 3-5 star chain hotels in 19 cities of first-tier and new first-tier are concentrated in mid-tier and 3-star hotels. AVC monitoring data show that in the first quarter of 2024, the number of new 3-5 star mid-range chain hotel stores opened in 19 cities in the first quarter of 2024 was 287, +10.4%, and the number of rooms was 23,965, +60.3%. The TOP3 cities were Changsha, Beijing and Chengdu. The number of middle and high-end chain hotels was 134, +24.1%, and the number of rooms was 16,577, +6.7%. The TOP3 cities were Changsha, Guangzhou and Beijing. The number of high-end chain hotel stores was 23, which was -25.8% year-on-year, and the number of rooms was 3,349, which was -42.0% year-on-year. The TOP3 cities were Shenzhen, Hangzhou and Dongguan. From the hotel star rating point of view, in the first quarter of 2024, the number of new 3-star, 4-star and 5-star hotel stores opened in 19 cities of the first tier and new tier was 284, 144 and 16, respectively, which were +76.4%, +20.0% and -30.4%, respectively. The number of rooms was 23,752, 17,166 and 2,973, respectively, +62.8%, +2.1% and -38.9% year-on-year.
City scale analysis: The hotel opening wind gradually shifted from the first-tier to the new first-tier cities, and the market sinking trend was highlighted
AVC monitoring data shows: In the first quarter of 2024, the newly opened 3-5 star chain hotels in 19 cities of first-tier and new first-tier will be in Changsha, Xi 'an, Beijing, Chengdu and Chongqing, with market shares of 11.7%, 9.0%, 9.0%, 8.8% and 7.2% respectively. +6.8%, -2.8%, +3.1%, -0.1%, +1.9%, respectively. From the perspective of room volume, the TOP5 cities are Changsha, Beijing, Chengdu, Chongqing and Hangzhou, with market shares of 10.4%, 8.8%, 7.7%, 7.6% and 7.3%, respectively, +6.0%, -1.9%, +0.5%, +2.9% and +0.1% year-on-year. From the growth point of view, the new opening of 3-5 star chain hotels in the first quarter of the fastest growth in Changsha, followed by Xi 'an, Zhengzhou, Chongqing and other new first-tier cities, Guangzhou declined the most obvious, followed by Tianjin, Shenzhen, Shanghai, Beijing, hotel market opening wind gradually shifted from first-tier cities to new first-tier cities.
Part supporting analysis: The process of intelligence and comfort is accelerated, and the mass growth space of the four scenes is huge
AVC monitoring data show that in the first quarter of 2024, the first line, the new first-line 19 cities newly opened 3-5 star chain hotel accessories analysis, from the allocation rate and growth rate analysis, building materials (mattresses, bed products, tiles, switch sockets) for the hotel standard, the allocation rate is 100%; Bathroom parts (ordinary toilet, smart toilet, shower, wash basin, basin faucet, bathtub, shower screen) in addition to the standard parts, the smart toilet allocation rate is the fastest growing, the allocation rate is as high as 57.2%, replacing some ordinary toilet market; In large household appliances (central air conditioning, TV, refrigerator, washing machine, clothes dryer), the allocation rate of TV and central air conditioning is higher, and the allocation rate of comfort categories such as refrigerators, washing machines, clothes dryers has increased compared with 2023, and the comfort level of the hotel has been improved. Smart home parts (smart door locks, smart switches, smart home systems, smart lighting, smart curtains) the overall allocation rate of nearly 60%, in addition to smart door locks, the allocation rate of the remaining four categories has increased compared with 2023, and the hotel intelligent process has further accelerated.
From the supporting scale, the supporting scale of the four categories of building materials has increased with the hot development of the hotel market, and the supporting scale has accumulated to 176,000; The total supporting scale of seven categories of bathroom parts is 224,000. For suppliers of parts, the hotel market has become the second batch of growth curve after the real estate decoration market in the engineering field; The total supporting scale of the five major categories of household appliances has reached 104,000, obviously catching up with the hardcover engineering market, and the hotel market has become the key area for the mass growth of household appliances. The total supporting scale of the five categories of smart home is 64,000, and the future growth space is huge.
Overall, tourism consumption continues to rise, inbound tourism, business travel, temples and small cream of the child family and other consumer groups have great consumption potential, is expected to provide incremental scale for the hotel market will also drive the new upgrade of consumption, hotel demand continues to release ushered in a highlight moment. At present, the chain rate of first-tier cities is more than 50%, the chain rate of new first-tier and second-tier cities is 40%, and the chain rate of fourth and fifth lines and other cities is less than 30%. With the development of hotel branding and chain, the market share of newly opened hotels in first-tier cities has declined, and the hotel market has a sinking trend, and the space is huge.
