After the epidemic hit, what is the occupancy rate of Jin Mao Hotel?

Jin Mao Hotels & Jin Mao (China) Hotel Investment Management**** is a fixed single investment trust initially focused on the hotel industry in China. It has a diversified portfolio of revenue** and commercial businesses, with its revenue mainly derived from hotel operations and commercial place leasing. The operating income of the hotel is generated from the hotel rooms, catering business and ancillary services.

Ancillary service revenue mainly includes revenue other than room revenue and food and beverage business revenue, such as laundry, ** charges, spa, hotel car service or other service income. It has eight hotels and one mixed-use development, Jin Mao Tower, all of which are strategically located in China's first-tier cities or tourist hotspots. It can be said that it is a veritable "luxury hotel".

However, such a powerful hotel is also a little powerless in the face of the epidemic. <>

In the first half of this year, the occupancy rate of its hotels did not exceed 50%, the company's operating income decreased by half, and the net profit loss was nearly 100 million yuan (RMB). According to the data released by Jin Mao Hotel, the group's revenue from hotel operation was 100 million yuan, accounting for 55%, a year-on-year decrease of 62%; property leasing income was 100 million yuan, accounting for 32%, down 17% year-on-year; other income was 100 million yuan, accounting for 13%, down 22% year-on-year.

In terms of occupancy rate, the Beijing area saw the largest year-on-year decline, specifically; In terms of average house prices, the Shanghai area fell to 928 yuan, which was the largest decline among the four regions; In terms of revenue per room, Beijing fell from 924 in the first half of 2019 to 193 in the first half of 2020, a decrease of . It is also affected by the second time of the new crown epidemic in Beijing, and the data of hotels in Beijing are more obvious than those in other districts**.

Due to the impact of the epidemic, overseas travel has also been restricted. However, with the control of the domestic epidemic, the occupancy rate should pick up in the second half of the year.

Jin Mao Hotel sits in a luxury area in China's first-tier cities, with 8 luxury hotels, with rooms ranging from 1,000 yuan to 10,000 yuan。According to the data, Jinmao Investment Manager ****, Jinmao Hotel, together with its subsidiaries and trusts, had revenue of 100 million yuan in the first half of this year, a year-on-year decrease of 50%; The net loss was 100 million yuan, a year-on-year decrease, and 100 million yuan, a year-on-year decrease of 67%. Luxury hotels are also expensive in different locations, and they are vulnerable to the epidemic, and the occupancy rate of their hotels has not exceeded 5%.

This year's interim results show that due to the impact of the epidemic, the company's operating income has decreased by half, and the net profit loss is nearly 100 million yuan.

In order to cope with the impact of the epidemic, the hotel has taken relevant measures, activated the company's emergency plan, strictly implemented various safety prevention and control measures in its properties, and implemented certain rent reduction and exemption policies for some difficult merchants during the Spring Festival, secondly, in view of the impact of the epidemic on the company's operation and cash flow, the company made every effort to reduce non-urgent costs, actively sought policy support, and the operating costs of its hotels during the epidemic period decreased by more than 50% compared with before the epidemic. The management of Jin Mao Hotel said that although the epidemic in the first half of the year had a certain impact on the company's economy, the company's capital reserves were sufficient and did not affect the operation and development of the hotel at all.

At the same time, Jin Mao Hotel said that it is actively preparing various sales and marketing strategies after the resumption of business travel, focusing on improving operational efficiency in the future. According to Strglobal's market data, the decline in hotel revenue per room in each region of Jin Mao Hotels is in line with the market average. The chairman of the board of directors of Jin Mao Hotel pointed out that due to the impact of the new crown epidemic, the consumer market has been hit hard, the tourism industry has entered a cold winter, domestic and overseas tourism has basically been suspended, personal travel and corporate travel have also been restricted, and the hotel market prosperity index and operating performance have fallen to the bottom.

However, Li Congrui believes that as the epidemic eases in Chinese mainland, pent-up consumer tourism demand will be released, and hotel occupancy rates will slowly recover with the resumption of work and production. <>

Since the outbreak of the new coronavirus, after the beginning of the epidemic, people have stayed at home, tourism and hotel income in various places have also been greatly reduced, hotels and hotels are almost unoccupied, except for some people who are still traveling in other places, they have not had time to return to their own cities, and because of the strict control of the epidemic, most of them have chosen to stay in hotels, only a few people are not afraid of trouble, and still insist on returning to their own cities.

Jin Mao Hotel is a well-known hotel with 8 luxury hotels in the bustling areas of China's first-tier cities. As a very well-known hotel, the room comfort and the service attitude of the staff are first-class, and there are a lot of people who usually stay in it.

The occupancy rate of its hotels does not exceed 5%.

We understand that Jin Mao Hotel has been affected by the pandemicThe occupancy rate is less than 50%.Operating income halved, the loss of nearly 100 million yuan, it can be seen how much the hotel has invested in operation. The business of Jin Mao Hotel during the epidemic is like this, not to mention other hotels, which are in a state of continuous loss during the epidemic.

However, now that the epidemic is gradually under control, the occupancy rate of the hotel will slowly return to normal. Although the epidemic is now under control, the speed of transmission of the new crown virus is not a joke, coupled with its extremely simple way of transmission, it is very likely that when you find out that you are infected, you have unknowingly infected thousands of people. Therefore, when it is not a last resort, you must stay at home with peace of mind, and under the ravages of the new coronavirus, home is the safest place.

In general, the domestic tourism industry and hotels have been hit hard because of the epidemic, and such a result is really helpless, who would have expected the emergence of the new coronavirus. In connection with reality, entrepreneurship is risky, and choosing to start a business or join must have a certain economic strength. Otherwise, if you encounter an accident like the epidemic, you will lose a lot of things.

Due to the impact of the epidemic, the occupancy rate of Jin Mao Hotel fell by 67% in the first quarter, and it will still be under great operating pressure in the first half of the year.

The epidemic is not over yet, and there are relatively fewer people traveling out, resulting in tourism, hotel and catering industries are not very good this year, and the same is true for Jin Mao Hotel, with an occupancy rate of less than 50%.

Its occupancy rate is even lower, itself because its rooms are very expensive, and now due to the epidemic, everyone wants to stay at home more, so the occupancy rate is even lower.

Jin Mao Hotel can be said to be a "hotel giant", is the real estate and hotel sector platform enterprise of China Sinochem Group, in the domestic real estate industry mainly take the route of high-end residential and high-end hotels, in China's first-tier cities have 8 luxury hotels, rooms ranging from 1,000 yuan to 10,000 yuan, and because of this year's epidemic, many hotels are very bleak, even Jin Mao Hotel, its hotel occupancy rate is not more than 50 percent, there is a performance show, in the middle of this yearAffected by the epidemic, the company's operating income will be reduced by half, and the net profit loss will be nearly 100 million yuan.

With the improvement of the epidemic, the occupancy rate of the hotel market has gradually rebounded, but due to the impact of the epidemic on the business travel market, exhibitions, business and other activities are either postponed, or even canceled, andThe tourism industry at home and abroad has fallen to the bottom, and the situation of Jin Mao Hotel is not optimistic.

Jin Mao Hotel has 5 hotels, which are located in Beijing, Shanghai, Shenzhen and other first-tier cities, and 3 in Sanya, Lijiang and other popular tourist cities. Jin Mao Hotels are located in the best part of the city, and the positioning is also high-end, due toThe impact of the epidemic this year has also affected the financial situation of Jin Mao HotelandUntil June this year, the company's cash and equivalents totaled 100 million yuan, and the company had interest-bearing bank loans and other borrowings totaling 100 million yuan, and the existing funds could not cover short-term debtsThe company's financial situation is quite serious, and coupled with the uncertainty of the epidemic, the company has announced a privatizationIn addition to the outbreak of the epidemic, the high-quality assets of Jin Mao Hotel that can be used by privatization can not provide more financing options, in fact, Jin Mao's financial situation has already had a crisis, and this year's epidemic is undoubtedly worse, I hope that after this, it can gradually improve.

Because its room ** is too high, a room for a night's accommodation ** is thousands of yuan, so few people go to live.

During the pandemic, the flow of people was relatively slow, which directly affected the hotel industry.

Jin Mao Hotel mainly relies on business tourists, but during the epidemic, there are fewer people traveling for tourism and business, which directly affects the occupancy rate of the hotel.

This is because compared to other similar hotels, the check-in fee is more expensive and the procedures are complicated.

Because the consumption of Jin Mao Hotel is relatively high, not many people can afford it, and most people will choose to live in hotels and cheaper hotels, so even if the occupancy rate of Jin Mao Hotel in the city's ** area is not high.

The reason for the epidemic is that the occupancy rate of the hotel is very low, because most people feel that the epidemic is not over, it is very unsafe to live outside, and it is the safest to live at home.

Because it's positioned too high. This hotel is positioned as a high-end hotel. The average person can't afford it, so it's normal for the occupancy rate to be low.

Because the room prices of Jin Mao Hotel are too expensive, it is not affordable for ordinary people, so most of the Jin Mao Hotels are for business travelers with spending power, and the audience is not particularly wide, coupled with the impact of the epidemic, the occupancy rate of Jin Mao Hotel has also been at a low level.

Because the majority of the Chinese people are still only moderately well-off, their spending power cannot reach this level.

As a wealthy hotel, the occupancy rate of Jin Mao Hotel has been low because the charges and services are not equal, and people do not want to spend money in vain.