On August 18, 2023, Ms. Luo Bingqing, Founder and Managing Director of Pengrun, was invited to attend the 2023 semi-annual meeting held by the Hilton Hotels Group China Hotel Owners Association, and brought the latest special research report analysis on the transformation of Pengrun's stock assets, and talked with industry veterans about how to promote the continuous upgrading of the hotel industry in the era of hotel stock.
Next, let's take you back to the wonderful sharing brought to us by Ms. Luo Bingqing on the day of the event!
part 1
Why do we need to pay attention to the revitalization of existing assets?
First of all, Ms. Luo Bingqing sorted out the background of the hotel stock for us. Whether it is the number of newly developed high-end select and above hotels in the Pengrun database, or the national strategy of urban renewal in the "14th Five-Year Plan", it can be seen that the hotel stock market has gradually become hugeThe future stock is a blue ocean.
In the era of stock, the asset-light track has been very crowdedHotel heavy assets are squeezing out valuation bubblesIn such a market environment, asset-light and asset-heavy investment will eventually return to rationality.
part 2
Is your hotel in need of a makeover?
After the hotel enters the stock market, how should investors assess whether the assets need to be renovated?
Overview of the Inventory Transformation Cycle:
Quick Assessment:Rapid diagnosis and evaluation can be carried out through indicators such as hardware reliability, customer satisfaction rate, market penetration rate, and property style fashion, and determine whether the hotel assets have entered the transformation period;
Decision-making during the renovation period:After the hotel enters the mature life cycle period, it can immediately start planning for the upgrading and transformation of the hotel;
Retargeting:Establish reasonable transformation goals, neither self-depreciation, nor ambitious;
Formulation of transformation plan:Introduce suitable design units and consultants;
BrandsRadiantNew:The choice of the brand should not only be consistent with the positioning of the hotel, but also be in line with the style of the hotel, and be able to bring added value;
Return to the market and participate in the competition
Retrofit isStock hotelsAn important direction to cross from the first curve to the second curve
part 3
Classification of types of stock revitalization
The revitalization of stock assets can be large or small
ComprehensiveRadiantNew:A comprehensive renovation requires a comprehensive assessment of the asset itself and the area in which it is located, from positioning, design, branding to operations. Finally, with product power, brand power and operation power, we can achieve phenomenal products;
Micro Transformation:Through point-to-point partial transformation, it can help owners spend limited money, resources and energy on the "knife edge", through a comprehensive evaluation of assets, find the right point of force, give full play to their own advantages, and maximize the value of products.
The stock transformation can be a drastic teardown and reconstruction, or it can be a point-to-point local upgrade
Ms. Luo BingqingPengrun works- Kimpton, SuzhouZhuhui HotelComprehensive as a stock assetRadiantNew representative cases to share. Here it is:PengRun on Suzhou KimptonZhuhui HotelRetrofit recommendations:
The concept of "Su and Xin" was put forward to take into account the inheritance and development of cultureWhile interpreting new experiences with traditional culture, it repositioned the hotel and introduced the Kimpton brand;
Open up the hotel and businessConnected with "flowing art".DiversificationstateAt the same time, it improves the ping efficiency and empowers the rich customer group structure;
Creative use of the all-day Chinese restaurant conceptThrough the upgrade of facility planning, the function switching of different restaurants can be realized in a limited space.
Ms. Luo Bingqing put together Suzhou Kimpton in June this yearZhuhui HotelThe essence of the roundtable discussion between the owner and the management was also brought to the event
Revitalization decisions should be made in advancePreliminary research and judgment can help owners clarify investment ideas and find the balance of income.
How to accurately position existing assets? You need to set your goals before you set them
The road to breaking the situation of stock assets can be triedThe blessing of the theme conceptto reshape the vitality of the business format.
Zhuhui Hotel represents the memory of an era, and the positioning of the hotel needs to be both "inheritance and innovation", and the pattern, demand and asset status need to be integrated and unified.
The concept of culture cannot be superficialIt needs to be able to bring a premium, otherwise it will be difficult to attract investment from owners.
"Hotel+".The idea of transformation helps to break the stereotype and create new integration solutions.
The choice of brandIt needs to be able to match the positioning of the original product, but also to fit the cultural concept of the transformed product, and be able to bring added value.
Retrofitting is the reintegration of different resourcesFrom the consulting team, cooperative brand companies to the joint introduction of first-class resources, in order to better promote the renewal of hotel products.
Owners with stock asset packages can try to explore the hotelreitspossibilities.
In addition, Hangzhou Xinqiao Hotel as:PengThe venue of the first offline event in Hangzhou is also a successful case of "micro transformation and fine improvement". Ms. Luo Bingqing put the old Hangzhou Xinqiao HotelChange experienceand experience also shared with the guests present:
Launched the new overseas Chinese interesting study,Integration of culture and tourismDiversify the lobby bar space to improve the efficiency of the hotel.
Through the partial renovation of the executive hotel, it helps the hotel break through the "stereotype".Rich positioning levels
Asset revitalizationIt can be big or smallto flexibly revitalize hotel assets in an operable space.
Limited renovation requires thinking about how to better combine existing properties to achieve thisMaximize your return on investment
The revitalization of hotel stock assets can be leveraged".Integration of culture and tourism, copyright operationto increase the value of the hotel.
The old reform can be triedOpen up cross-border thinkingThrough precise transformation, improve the efficiency of the hotel.
Renovation is a good opportunity for the hotel to reposition, and it is necessary to think about the revitalization and positioning of the hotel from the perspective of heavy assets and light assets.
A successful renovation is expected to drive the hotel'sThe second curve grows
part 4
"Hotel +" concept
How to integrate into the revitalization of stock assets
Immediately afterwards, Ms. Luo Bingqing helpedPengRun original this model, from“thematic, healthy, interactive, sharing”Four dimensions, combinedPengThe case explains how to integrate the concept of "hotel +" into the transformation and revitalization of hotel rooms, lobbies, recreation, catering, and mechanical and electrical aspects.
part 5
When the stock is renovated
Need to keep up with future consumer trends
Pengrun has beenFocusing on the study of population trends in China's new era, ten years later:
The traditional parent-child market has declined significantly, usheringCUHKChildren's familiesand young parent-childdifferentiation.
Parents are getting older and growing into the leisure marketSideburns slight creamgroups
In the post-epidemic stage, Chinese people will enter all ages from childhood to twilightThe era of health care
The demand for families with children is expected to drive new changes in hotels
Ms. Luo Bingqing pointed out that the renovation of existing properties needs to pay attention to the needs of middle-aged and large children's parent-child families. At present, there are the following weaknesses and deficiencies in the supply of hotel and leisure vacation parent-child products:
In the case of a family with two or more children, it exists"The room size is too small", "The size of the bed is too narrow", "The storage space is insufficient", "Multiple people are not allowed", "The room type is equipped with only one child service".and so on,Lack of "2+2" and "2+x" parent-child product design;
Superficial "decoration of products has been unable to impress the current parent-child consumers, theyWe are looking forward to products with a sense of continuity, culture and experience;
Products that focus on children but ignore the leisure needs of parents no longer have the potential for sustainable development in the market.
Sideburns micro-cream asIn the future, the potential incremental customer group of the leisure and vacation market will be "rich and leisure", fun-loving, and willing to playThe sideburns are slightly creamyThe crowd is more than you think
Pengrun focuses on the needs of people aged 50-64 with sideburns and micro-cream, and the "Pengrun Sideburns Micro-cream Hotel and Leisure Resort Market Insight Report" analyzes the demand for hotel products from multiple dimensions such as increment, budget and lifestyle, and believes that the future transformation of existing hotels can consider the needs of such customers from the transformation of catering and the transformation of wellness.
Finally, on behalf of Peng Run, he once again thanked the Hilton Owners Association for the invitation, giving everyone the opportunity to reunite old friends and new friends and jointly upgrade hotel asset management under the new situation.
In the future, Pengrun will not forget its original intention, adhering to the concept of making progress because of speculation and far-reaching due to deep cultivation, and under the new situation, we will work together with the hoteliers to bring more new thinking and inspiration to the hotel owners.