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“这是一种背叛”,锦江酒店如何向2亿会员交代?
600754JINJIANG HOTELS(600754) 观察者网· Guan Cha Zhe Wang·2025-05-08 12:52

Core Viewpoint - Jinjiang Hotel Group is facing a trust crisis due to "price inversion" issues, where prices on its official platform are significantly higher than those on third-party platforms [1][3][4]. Group 1: Price Inversion Issues - Investigations revealed that some Jinjiang franchise hotels set prices on the Jinjiang Hui app five times higher than on third-party platforms [1][2]. - During the May Day holiday, certain hotels showed full bookings on the official platform while being available on OTA platforms [2][4]. - Jinjiang's official platform has been reported to have higher prices compared to OTA platforms multiple times in recent months, indicating a systemic issue [5][9]. Group 2: Franchise and Group Dynamics - The "price inversion" reflects a growing conflict between franchise hotels and the Jinjiang Group over profit-sharing and visibility on booking platforms [3][4]. - Franchise hotels are increasingly favoring OTA platforms due to higher traffic and visibility, leading to a weakening of the official booking channels [3][11]. - The lack of effective price monitoring and management by Jinjiang has contributed to these issues, as franchisees feel empowered to prioritize their own revenue [8][11]. Group 3: Membership and Revenue Challenges - Despite having over 200 million members, Jinjiang's occupancy and repurchase rates are lower than competitors like Huazhu and Atour, indicating a lack of attractive member benefits [9][11]. - Jinjiang's net profit for 2024 was only 9.11 billion RMB, a decline of 9.06% year-on-year, highlighting a disparity in performance compared to other hotel groups [9][11]. - The company plans to enhance its membership system to improve member engagement and loyalty, but the effectiveness of these measures remains uncertain [11][12].