12月3日，因涉及控制权变更事宜停牌的中高端酒店品牌君亭酒店（301073.SZ）迎来复牌，与此同时，其控制权变更方案已取得关键性进展。 根据昨晚披露的公告信息显示，目前湖北文旅对君亭酒店的收购将采用 "协议转让+表决权放弃+部分要约收购"的三位一体架构推进，笔者梳理发现此次收 购方案的核心是湖北文旅拟通过三步走的方式实现对君亭酒店的控制权获取与巩固。 具体来看，方案的第一步为协议转让，湖北拟以25.71元/股的价格受让吴启元、从波、施晨宁合计持有的58,315,869股无限售流通股（占总股本 29.99%）， 其中吴启元转让 28,035,634 股（占 14.42%）、从波转让 25,615,774 股（占 13.17%）、施晨宁转让 4,664,461 股（占 2.40%），总转让价款 14.99 亿元； 81岁的酒店行业老兵、公司实控人吴启元将正式让渡公司控制权，而湖北省国资委旗下的湖北文化旅游集团有限公司（简称"湖北文旅"）计划通过"协议转 让+表决权放弃+部分要约收购"的组合拳，拿下君亭酒店的控制权。若最终全部交易顺利完成，此次交易涉及的总金额最高或将接近18亿元。 | | 商务 | 度假 | 精 ...

通讯员王翔宇扬子晚报/紫牛新闻记者周晓青 校对盛媛媛 沧浪分局将把联盟成员履责情况纳入信用评价体系，实施差异化监管激励。联盟坚持务实高效原则，力戒形式主义，切实为企业减负增效。未来将通过动 态宣传、公众体验活动等方式，提升社会知晓度与参与感，共同营造安全、放心、优质的酒店消费环境。 下一步，联盟将加快制定并签署《自治公约》，明确权责、规范运作，计划于2026年底前形成可复制、可推广的行业自治模式。该模式未来有望延伸至餐 饮等其他行业领域，形成多层次自律体系，也可为姑苏区各街道推进诚信经营联盟建设提供实践经验，助力构建全区一体化的商户共治格局，进一步服务 区域经济社会发展。 为深入构建"政府引导、企业自治、行业自律、社会监督"的现代化市场治理格局，全面提升辖区酒店行业整体服务品质，12月4日，在姑苏区市场监督管 理局沧浪分局的指导下，姑苏诚信经营商户联盟沧浪分联盟酒店联盟(以下简称"酒店联盟")正式成立，旨在为辖区酒店行业搭建一个常态化交流协作、共 促服务提升的共治平台。 成立后，姑苏诚信经营商户联盟沧浪分联盟酒店联盟将围绕食品安全、价格诚信、服务质量等重点领域，定期开展自查互查与交流学习。通过组织标杆酒 店观 ...

近年来，洲际酒店集团持续完善包容性就业体系。截至2024年，大中华区已有数百名残障员工在集团旗 下酒店稳定任职。基于我们与无锡特教学校的合作模式， 北京北辰洲际酒店、北京西南华邑酒店已率 先积极响应，优化残障员工的岗位匹配、培训体系与融合管理，并获得中国残联就业服务指导中心的肯 定。 每一份努力都值得被看见，每一个梦想都应拥有生长的土壤。在北京北辰洲际酒店的大堂，"美丽工 坊"的展示柜陈列着羌绣香薰盒、编织胸花等残障人士的精美作品，引得住客纷纷驻足。 近日，洲际酒店集团与中国残疾人联合会就业服务指导中心正式签署战略合作协议。此次合作是对国务 院《促进残疾人就业三年行动计划（2024—2027年）》的积极响应，也是酒店行业推动残障人士高质量 就业的标志性进展。正值洲际酒店集团进入大中华区50周年之际，该战略合作进一步体现跨国酒店集团 在本地市场深耕与践行包容就业、推动社会共融方面的长期承诺。 洲际酒店集团大中华区人力资源副总裁乐静娜表示，残障人士就业是一项系统性工程，需要在真实酒店 运营场景中不断验证岗位适配、流程拆解与团队融合机制。"从2019年起，洲际酒店集团旗下的无锡太 湖华邑酒店便与无锡特教学校启动校企 ...

长江商报消息地方国资入主上市公司热情高涨，地处华中的湖北国资动作频频。 12月2日晚，A股唯一一家民营连锁酒店品牌君亭酒店（301073.SZ）宣布易主。湖北文化旅游集团有限 公司（以下简称"湖北文旅"）拟通过股权受让+要约收购方式，合计耗资约18亿元，取得君亭酒店36% 股权，成为其控股股东，君亭酒店实际控制人将变更为湖北省国资委。 早在2024年，湖北文旅曾通过湖北国际贸易集团有限公司取得上海雅仕（603329.SH）控制权。 长江商报记者发现，湖北省国资委通过省属国企控股、并购等方式，实际控制的A股上市公司数量已达 15家。 目前，湖北省国资正在深入推进"三资"改革（资源资产化、资产证券化、资金杠杆化）。资产嫁接资本 市场，有利于做大做强国资。 业绩方面，君亭酒店经营增长承压。2025年前三季度，公司实现的归母净利润为990.33万元，同比下降 45.92%。 据君亭酒店披露，湖北文旅将向公司注入优质资源，改善经营业绩，解决持续投入能力不足短板，全面 增强和提升公司核心竞争力和持续盈利能力。 湖北文旅主营业务为文化旅游、商业贸易、体育康养三大板块，资产规模超千亿元。公司致力于打造全 国一流的文化旅游龙头 ...

Core Points - Initial jobless claims in the U.S. fell to a three-year low, slightly cooling interest rate cut expectations [1] - U.S. stock market indices closed mixed, with the Dow Jones down 0.07%, the Nasdaq up 0.22%, and the S&P 500 up 0.11% [1] Company Performance - Notable tech stocks showed mixed performance, with Meta rising over 3% and Nvidia up over 2%, while Amazon and Apple both fell over 1% [1] - Computer hardware and cryptocurrency mining companies saw significant gains, with SanDisk up over 9%, Hut8 nearly 7%, Dell Technologies up over 4%, and HP up nearly 3% [1] - Precious metals, travel and hotel, and lithium mining stocks experienced declines, with U.S. Steel down over 5%, Hilton Hotels and Royal Caribbean Cruises both down over 2% [1] Chinese Stocks - The Nasdaq Golden Dragon China Index rose by 0.39%, with notable Chinese stocks such as Canadian Solar up 5.8%, NIO up 5%, and EHang and Tiger Brokers both up over 4% [1] - Xpeng Motors rose 3.5%, Pony.ai up 3%, while Yum China fell 1.3%, Boss Zhipin down 2.2%, and Daqo New Energy down 3.8% [1]

长江商报消息地方国资入主上市公司热情高涨，地处华中的湖北国资动作频频。 12月2日晚，A股唯一一家民营连锁酒店品牌君亭酒店（301073.SZ）宣布易主。湖北文化旅游集团有限 公司（以下简称"湖北文旅"）拟通过股权受让+要约收购方式，合计耗资约18亿元，取得君亭酒店36% 股权，成为其控股股东，君亭酒店实际控制人将变更为湖北省国资委。 湖北文旅拟拿下君亭酒店控制权 湖北文旅再出手，将拿下杭州上市公司君亭酒店。 早在2024年，湖北文旅曾通过湖北国际贸易集团有限公司取得上海雅仕（603329.SH）控制权。 长江商报记者发现，湖北省国资委通过省属国企控股、并购等方式，实际控制的A股上市公司数量已达 15家。 目前，湖北省国资正在深入推进"三资"改革（资源资产化、资产证券化、资金杠杆化）。资产嫁接资本 市场，有利于做大做强国资。 业绩方面，君亭酒店经营增长承压。2025年前三季度，公司实现的归母净利润为990.33万元，同比下降 45.92%。 据君亭酒店披露，湖北文旅将向公司注入优质资源，改善经营业绩，解决持续投入能力不足短板，全面 增强和提升公司核心竞争力和持续盈利能力。 湖北文旅主营业务为文化旅游、商业贸易 ...

12月5日，美股三大指数收盘涨跌不一，道指跌0.07%，纳指涨0.22%，标普500指数涨0.11%。 纳斯达克中国金龙指数收涨0.39%，蔚来涨超4%，小鹏汽车涨超3%，百度、哔哩哔哩涨超1%，名创优 品、百胜中国跌超1%。 热门科技股涨跌不一，Meta涨超3%，英伟达涨超2%，亚马逊、苹果跌超1%。计算机硬件、加密矿企 涨幅居前，SanDisk涨超9%，Hut8涨近7%，戴尔科技涨超4%，惠普涨近3%。贵金属、旅游酒店、锂矿 概念股跌幅居前，美国雅保跌超5%，希尔顿酒店、皇家加勒比邮轮跌超2%。 全球要闻 日本央行12月加息几乎已定！据称政府将不予干预 日本央行三位知情官员透露，日本央行很可能在12月提高利率，将政策利率从0.5%提高至0.75%；②若 加息得以落实，这将是自今年1月以来的首次加息；③日本央行行长植田和男表示，本月将考虑加息 的"利弊"，市场预计央行于12月加息的可能性为80%左右。 摩根大通策略师认为，尽管股市因AI交易担忧和美联储降息路径不确定而疲软，但现在是战略性增持 股票的时机；②美国经济前景强劲，企业盈利持续强劲，关税担忧消退，国际市场前景乐观，这些因素 预计将推动股市至明年初。 ...

Financial Data and Key Metrics Changes - The company started the year with a global RevPAR midpoint expectation of 3%, which has now adjusted to 2% for the year [4] - October RevPAR was globally at 2%, with the U.S. slightly lower than expectations at a decline of 20 basis points, while international RevPAR was up 7% [7] - Group bookings have underperformed relative to initial expectations, although group RevPAR is still expected to be positive [5][6] Business Line Data and Key Metrics Changes - Leisure demand has remained strong, particularly in the luxury and premium sectors, while select-service hotels have seen flat demand [12] - Group bookings in the U.S. have increased by 8% and have remained strong between Q2 and Q3 [23] - The mid-scale segment is seeing a positive pipeline with 150 new hotels expected to roll out soon, although current data is insufficient to identify a clear trend [13] Market Data and Key Metrics Changes - The U.S. market is experiencing uncertainty due to potential government shutdowns and economic conditions, impacting RevPAR [6][21] - International markets are performing better than the U.S., contributing positively to overall RevPAR [7][21] Company Strategy and Development Direction - The company is focused on strategic partnerships and continues to explore various types of deals, learning from past experiences such as the Sonder situation [30][33] - There is an emphasis on conversions and new hotel openings, with a noted increase in construction starts by 25% compared to the previous year [34][37] - The company is optimistic about the potential for hotel transactions in 2026, particularly in stable markets [36] Management's Comments on Operating Environment and Future Outlook - Management acknowledges the potential impact of a recession but remains hopeful for continued leisure spending and luxury demand [15][16] - The company is closely monitoring the U.S. economy, as domestic travel significantly influences U.S. RevPAR [21] - Future growth is expected to be supported by events like the World Cup, which could enhance demand [21] Other Important Information - The company is actively engaging with AI developments to enhance distribution strategies, although the exact outcomes remain uncertain [52][54] - The upcoming renegotiation of credit card partnerships is anticipated to provide potential upside to Adjusted EBITDA [42][44] Q&A Session Summary Question: How is the company viewing the demand environment post-third quarter earnings? - The company noted that leisure demand has been sturdy, while group and business travel have underperformed expectations due to economic uncertainties [4][5] Question: What are the expectations for group bookings in the upcoming year? - Group bookings are expected to remain strong, with an 8% increase noted, and management is optimistic about stabilization in this segment [23] Question: What lessons were learned from the Sonder experience? - The company emphasized the importance of due diligence and financial capability assessments in future strategic partnerships [30][33] Question: How does the company view the potential for AI in distribution? - The company is actively involved in discussions with AI players and sees potential for cheaper booking options compared to OTAs, although it remains early in the process [52][54]

Core Insights - The partnership between Beijing Summer Palace Hotel Co., Ltd. and Aman Group will end on December 29, 2025, with the hotel rebranding to "Beijing Palace Hotel" starting December 30, 2025 [1] - The hotel will continue operations as usual, with no impact on bookings or stays, and there are currently no plans for a new listing [1] - The rebranding is part of a strategic upgrade based on market demand and cultural heritage, with a stable core service team and operational standards [1] Company Strategy - The hotel will enhance its hardware facilities and introduce features such as Chinese aesthetic room decor, intangible cultural heritage experiences, and Beijing-themed cultural activities [1] - The goal is to position the hotel as a showcase for the charm of Chinese culture [1] Industry Context - Aman Group operates several other hotels in China, including Shanghai Yuyuan Aman, Lijiang Dayan Aman, and Hangzhou Fayun Aman [1]

Group 1 - The core viewpoint indicates that Huazhu Group and Atour have significantly outperformed Jinjiang Hotels and ShouLai Hotels this year, with respective increases of 41% and 59% compared to Jinjiang's 2% decline and ShouLai's 7% increase [1] - Morgan Stanley recommends investors to "overweight" Huazhu Group and Atour over a 12-month period due to their stronger brands and products, which provide clearer long-term growth prospects, while their valuations are comparable to or even cheaper than Jinjiang and ShouLai [1] - The self-discipline within the hotel industry has exceeded expectations, benefiting Huazhu and Atour, as indicated by Morgan Stanley's consumer forum insights [1] Group 2 - Morgan Stanley's tracking data shows that the expansion rate of Huazhu and Atour has been significantly faster than that of Jinjiang and ShouLai, highlighting a trend of industry consolidation that favors Huazhu and Atour [1] - In the past month, there has been a notable divergence in the performance of Chinese hotel stocks, with Huazhu Group and Jinjiang Hotels performing well, while Atour and ShouLai Hotels lagged behind the industry [2] - The report suggests that the stock price movements are not entirely supported by fundamentals, as Huazhu Group's average revenue per available room (RevPAR) for Q4 shows upward risk, indicating potential short-term price increases [2]