资不抵债、连续亏损！亚米酒店将被摘牌，中小连锁酒店扩张遇阻

Core Viewpoint - Hunan Yami Hotel Management Co., Ltd. has been forced to delist due to failure to disclose its 2024 annual report on time, highlighting the challenges faced by small and medium-sized hotel management companies in a competitive market [1][2]. Company Summary - Hunan Yami Hotel was established in 2010 and operates limited-service hotel chains, including the budget brand "Youmi Chain Hotel" and the mid-range brand "Xingzhan" [1]. - The company has experienced continuous losses since 2020, with losses of 3.47 million, 3.13 million, 9.55 million, and 1.38 million yuan from 2020 to 2023, respectively [2]. - As of the end of 2023, Yami Hotel's net assets were negative, leading to risk warnings and a change in its stock name to "ST Yami" [2]. - The company reported a 45.13% decline in revenue for the first half of 2024, with a net loss of 342,240 yuan, marking a 248.49% increase in losses compared to the previous year [4]. Industry Summary - The small and medium-sized hotel sector is facing increasing pressure due to intensified competition and the need for transformation and upgrades [1][6]. - The hotel market in China has seen a significant increase in the number of establishments, with over 370,000 hotels as of the end of 2024, leading to a structural oversupply [5][6]. - Competitors like Pudong Hotel have also faced similar challenges, resulting in their delisting due to negative net assets for three consecutive years [5]. - The industry is undergoing a structural adjustment, with only a few companies possessing brand advantages and digital management capabilities likely to succeed [6].