迈点研究院：2025中国酒店投资运营与品牌发展报告

Industry Status - The hotel industry has fully entered a phase of stock competition, with stable scale but pressured profits; the room supply growth rate is 6.94%, while RevPAR has decreased by 5% year-on-year, and the number of new business registrations has dropped by 14.33% [11][12][18] - The regional market shows a polarized trend, with first-tier cities focusing on stock optimization and transactions primarily involving high-end and mid-high-end projects, accounting for 35%; hotels opened in third-tier cities and below account for 55.77%, indicating a rise in county-level consumption, with a 51% year-on-year increase in National Day bookings [12][13] Brand Development - International brands are accelerating localization, adapting products for stock renovation, integrating with domestic mainstream platforms, and offering local cultural experience packages; cross-industry capital is entering the market, focusing on scene operations and high-end assets [19][21][23] - Small and medium-sized brands are shifting towards either being acquired or focusing on regional development, while themed hotels such as esports, pet-friendly, and wellness hotels are emerging as new growth points [25][30] Operational Upgrade - There is significant performance differentiation in the hotel industry, with luxury and ultra-high-end hotels showing strong resilience; holiday periods are critical for performance support [34] - Digital transformation is yielding results, with 70% of hotels increasing digital investment, and AI applications enhancing service efficiency while reducing setup time and costs [34] - Hotels are transitioning from being mere room suppliers to lifestyle platforms, innovating through scene creation and emotional consumption operations, with non-room revenue expansion becoming a focus [34] Future Outlook - Policy benefits are continuously being released, with multiple departments promoting high-quality development in the accommodation industry; the industry is expected to progress in four main directions: high-quality development, leading enterprises focusing on efficiency, rapid growth in niche markets, and comprehensive digital transformation [4] - The integration of ecosystems across industries is becoming the norm, with models like "hotel + retail + cultural tourism" gradually popularizing [4]