Group 1 - The hotel industry is undergoing significant transformation and investment changes due to fluctuations in the global economic environment and evolving consumer demand [1] - As of December 31, 2024, the number of hotels with 15 or more rooms in China reached 370,300, a substantial increase of 34.21% compared to the end of 2020 [1] - The total number of hotel rooms in these establishments reached 18.47 million, reflecting a growth of 24.28% since the end of 2020 [1] - The number of chain hotels in China is also on the rise, with 59,600 chain hotels projected by the end of 2024, marking a 52.92% increase from 2020 [1] - There is a notable regional differentiation in new hotel openings, particularly in lower-tier cities, with 17,300 new hotels opening in these areas, accounting for 37.31% of the total [1] Group 2 - In 2024, Jinjiang saw the highest growth in store openings in Northeast China, exceeding 100%, while Shoulv had the highest growth in Central China, surpassing 300% [2] - The overall hotel brand turnover rates for 2024 were reported, with Vienna and Vienna International Hotels having the highest turnover rate at 14.68% [2] - The RevPAR (Revenue per Available Room) data indicates that the National Day holiday saw a year-on-year increase of 40.6%, while the summer month of July experienced an 11.7% increase [2] - The hotel market is currently in an adjustment phase, with expectations for a third supply-demand cycle to begin as travel and business needs rise [3] - Current trends in hotel asset transactions suggest that luxury hotel assets do not exhibit strong premium capabilities, and investors should focus on controlling initial investment amounts [3]