Huazhu and Jin Jiang Make Aggressive Push into Long-Term Rental Apartments as Hotel Giants Race for a Second Growth Curve

IndustryM&A · Partnership
โดย 红星资本局·CN·Read original
Summary · why it matters

Domestic hotel giants are making an aggressive push into the long-term rental apartment market. Huazhu will launch a "sojourn" channel on its membership platform to integrate Chengjia Apartment resources and offer weekly and monthly rental products, while Jin Jiang Hotels has unveiled the "Tuling Apartment" and "Lingju Apartment" brands. International brands such as Marriott, Accor, and Hyatt are also accelerating their positioning. Huazhu's sojourn channel covers more than 50 cities and over 100 properties. Taking first-tier cities like Beijing and Shanghai as an example, Chengjia Apartment listings in downtown locations generally range from 3,000 to 6,500 yuan per month, with some units in outlying areas priced as low as 1,100 yuan per month. Data disclosed at Jin Jiang Hotels' launch event shows that Tuling's nationwide bed count has surpassed 4,496, and Lingju's Shekou store in Shenzhen was fully leased upon opening. Chengjia Apartment told Red Star Capital Bureau on September 17 that so far about 88 percent of all sojourn orders have come from members who had previously placed orders on Huazhu's platform, while about 4 percent are newly registered Huazhu users. Li Zhanpu, a senior analyst at TravelDaily, told Red Star Capital Bureau on September 17 that the core driver is mounting growth pressure on the core hotel business, making the long-term rental apartment sector a strategic choice for exploring a second growth curve. However, he also noted that the long-term rental apartment sector itself is already very crowded, and hotel brands entering the market is equivalent to "carving out a piece of meat" from established players. In the next three to five years, hotel-affiliated players may still be unable to become mainstream forces in long-term rental apartments.

Impact on stocks 6

Consumer Discretionary▲ · 4 stocks
Huazhu Group Ltd
1179
▲ PositiveDemandrelevance

Huazhu launches a 'sojourn' channel integrating Chengjia Apartment resources, offering weekly/monthly rentals across 50+ cities and 100+ properties, with 88% of orders from existing members.

Others▲ · 2 stocks

Off-coverage companies 2

城家酒店管理有限公司 (COS Apartment Hotel)Private▲ Positive
Demandrelevance

Chengjia Apartment resources are integrated into Huazhu's sojourn channel, with 88% of sojourn orders coming from existing Huazhu members and listings priced 1,100-6,500 yuan/month.

环球旅讯 (TravelDaily)Private± Mixed
relevance

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