- Chief Business Intelligence
- Chief Business Intelligence
Introduction: 16 years of glory has come to an end in the whole play, and the road ahead is confused.
Making money is a kind of ability, spending money is a kind of technology, there are many people who want to make money, but not many who earn more, this is the strange contradiction of this society.
Luxury goods are expensive, and the main focus is not to pit the poor. But lately, it seems that even the rich have not been able to move the pit, what is going on?
A star-rated hotel that slept with an ordinary person's salary in one night, and in the early years, there were a bunch of fake celebrities who "spelled orders" and pretended to be extravagant.
People's vanity is used vividly by merchants, whether rich or not, they all take out a lot of silver with peace of mind.
But recently, these extravagant star hotels have been auctioned off one after another, and even the landmark hotel industry, which has been in operation for 16 years, is about to close.
"Expensive" is obsessed
High luxury to "go to the sea to catch fish"
Recently, these high-luxury hotels seem to have flowed into the auction list, and hundreds of millions of hotels are auctioned when they are said to be auctioned.
In 2023, 124 hotels with 100 million yuan will be auctioned, and it is not an instant sale, it is difficult to find buyers at a low-cost auction, according to statistics, from February to March this year, 58 hotel projects have been auctioned, and the amount of hotels in February alone has exceeded 3.2 billion yuan.
From this point of view, the wave of high-end hotel closures has ushered in the first wave of peak period.
Source: Milestone
In fact, the wave of store closures in the entire industry has lasted for almost 2 years, and it is normal to hear too much about the closure of small stores, but what I didn't expect is that the wave of store closures is still blowing on the rich people.
In the past two years, many high-end and luxury hotel assets have begun to be sold by real estate companies one after another.
For example, Wanda Group's Wanda Reign Hotel in Shanghai was sold, and several Banyan Tree hotels in Vanke were sold for 480 million yuan.
Macrolink's Tangshan Pullman Hotel assets were sold for 395 million yuan. The Ritz-Carlton Hotel in Tianjin, the Sanya Intercontinental Hotel, and the Guanghegu Hot Spring Hotel were also auctioned for 2 billion.
Yang Huiyan's Country Garden has been listed and transferred a series of assets, including the Phoenix Hotel in Zengcheng District, Guangzhou. Moreover, the St. Regis Lijiang Resort Hotel, which covers an area of 160,618.60 square meters, was listed on the auction platform because there was no one to take over, with an estimated price of 460 million.
Moreover, it is not only the leading real estate companies that are giving up these industries, but also some local star-rated hotels have announced the closure of business, such as Shenyang International Crowne Plaza Hotel, Sofitel Ningbo Weili Hotel, Shanghai Bund Hyatt Hotel, Emeishan Blu-ray Jizhuang, etc.
The picture shows the Hyatt on the Bund in Shanghai
Are these once-unattainable high-star hotel assets still as valuable as they were at the beginning? In fact, judging from their performance in recent years, the market has given a cold answer.
Even the star-rated hotels that advertise the paradise of the rich can only end one after another so far, are the rich people unable to spend?
Moreover, even The Opposite House, known as the "eldest princess" of the Beijing hotel industry, has also announced that it is ready to transform.
The Opposite House in Beijing's Sanlitun has been a landmark in Beijing for 16 years since it opened in 2008, but it has also begun to run and announced that it will officially close on June 30 this year.
There is still a countdown to the closure of the store, and I have to say that it will really do business.
Judging from the detailed closure announcement issued by The Opposite House, this hotel, which costs up to more than 30,000 yuan for a night, is ready to start "selling goods". Such a move naturally caused a lot of controversy, and the lobby of a luxury hotel actually used it to "sell goods"?
But in fact, this is not the first time that this Opposite House Hotel, which was specially designed by a famous Japanese architect, has been sold for clothes with an average price of $900 in the bright lobby of the Opposite House.
Sure enough, the rich do make easier money.
But this time, the Opposite House, the "performance pacesetter" of the Swire Group's House Collective, has changed its temperament and transformed across borders.
Is it that the hotel can't cut off the rich, or does the Swire Group want to go to the sea to harvest the middle class, or is the paradise of the poor ghost in their eyes?
Trendy pre-"village"
The tide is so humid that I don't dare to go
Swire is profitable, and it is very good at increasing its value. If an egg can only be sold for a few cents per piece, it can be sold for 100 yuan per piece after being built by Swire Group.
If anyone remembers Taikoo Li Sanlitun's "road to expansion", they can probably figure out how Swire Group harvests, and they have a very good way to build a fashion community.
An ordinary block, after a period of Taikoo Li, the added value goes directly up, and the money earned has doubled.
The streets built by the Swire Group are basically so dazed that they don't dare to go shopping without confidence. This is exactly the same way as what is being done in Quarry Bay and Queensway in Hong Kong.
When The Opposite House first opened, Sanlitun, which is now rheumatism, was still a village.
Taikoo Li Sanlitun was originally called Sanlitun Village. The Chinese name of village is retro, with an English word, it instantly sets the position of the consumer group and grasps the boundary between "earth" and "ocean".
It not only retains the old bar street culture, but also turns this neighborhood known as "Beijing Brooklyn" into a fashionable street with both traditional hutongs and alleys and modern culture.
Taikoo Li Sanlitun retains low-spending people while attracting high-spending people.
The value of The Opposite House has naturally risen, and from this point of view, this "longest night in Beijing" is actually a means of capital operation.
The opening day of Sanlitun coincided with the opening of the 2008 Olympic Games.
The crowd gathered under the big screen of the South District Square to witness this sacred moment, that year, it can be regarded as a watershed, Sanlitun can also be said to have grown up with Beijing.
In 2014, the night of the German-French war in Beijing attracted many fans to gather in Sanlitun Bar Street.
Therefore, when the "eldest princess" Opposite House Hotel, which has been open for 16 years, announced that it was about to close, many people expressed their reluctance.
But I have to say that the joys and sorrows of people are indeed incompatible.
Happiness is classified
Sure enough, those who engage in art don't make money
Taikoo Li Group has created a trendy mecca belonging to Beijing, which can be said to have become the city's business card.
But the reality is so cruel, although happiness knows no borders, wealth is classified. It is precisely because of this that the Swire Group is well aware of this and has positioned The Opposite House Sanlitun as a "luxury trend".
At a time when ordinary people are still running around for a few meals, the princesses and young masters in the Beijing circle have already started their extravagant nightlife.
Although the luxurious life seems to be out of reach, there are always people who can find a suitable place for themselves to bubble up, punch a card, prove that they have been close to wealth, and hope that one day they can truly achieve financial freedom.
The vicinity of The Opposite House, which is ready to be turned into a "hypermarket", is also packed with bars, shopping malls and fashion check-in spots, attracting many trendy young people and fashionistas.
Not only that, The Opposite House can be said to be mixed with the entertainment industry.
"Mr. Love" starring Jin Dong and Jiang Shuying was filmed here, and the top-floor duplex suite of 34,960 yuan/night and 390 square meters is the home of the male protagonist in the play.
Even Sister-in-law Pei, who was all over the Internet at the time and held a child with one hand, was also a loyal fan of this Opposite House, and even Beyoncé held a celebration party in the Penthouse of the Opposite House after the concert.
There is also a 22-meter-long stainless steel starry sky swimming pool, Ferrari sports car airport shuttle service, and staff provide makeup training courses, etc., which can be called a star pacesetter in the hotel industry, so it looks like it should mix well.
Why do you say that closing the Opposite House is a helpless move, in fact, after understanding the price of a one-night stay, you can probably understand the helplessness of the Opposite House.
Netizens have counted that at the peak, the 45-square-meter modern twin room was more than 2,400 yuan/night, the modern double-bed room room was more than 2,500 yuan/night, and the 390-square-meter top-floor duplex suite was 34,960 yuan/night.
I have to say that it is really "helpless" to sleep for a month's salary in one night.
If the profit is considerable, at this price, making money is a casual thing, but after all, money is hard to earn, and is hard to eat.
The hotel's unsatisfactory profitability is perhaps the biggest problem for this hotel. After all, there won't be many loyal guests for one-time spending like hotels.
Therefore, success and art are also art, which is probably the most helpless thing for The Opposite House in Beijing.
It was first designed by the well-known Japanese architect Kengo Kuma, and has been labeled as "art" for 16 years.
In order to protect this label, fashion events, art exhibitions, pop-up stores, brand restaurants and other ways are often held to "brush up on the presence", but the crowd attracted by this is people who cannot "stay in a hotel".
The price is about the same within 1 km, there is Intercontinental on the opposite side, Lao Zhaolong, Hyatt, Conrad and so on the east.
Being a hotel is professional, and the cost performance of this thing, as long as it is not printed at home, will basically be considered, and The Opposite House has no advantage in this regard.
And The Opposite House has been around for 16 years, no matter what the master designed, the public is aesthetically fatigued, so what can they do to compete with the new hotels?
Is there an ethereal sense of art? Otherwise, people who engage in art are poor.
In 2023, Swire Group's revenue from the retail segment was HK$7.143 billion, making it their highest-grossing business segment, while the revenue from the hotel segment was only HK$979 million.
It can be seen from this that if the art hotel can't bow its head and "sell goods", it will join the army of closing stores.
Selling one after another, the receivers shook their heads
The high-end hotel market is ushering in great changes, and most of the hotel businesses without the support of other industries can no longer operate, so they can only be put up for sale, or they are auctioned by the court.
But the hotel boom has been pushed, and the pick-up heroes have long brains, for fear that the hotel they take over is a hot potato, so the situation of selling at a low price and cheaply happens from time to time.
For example, the Xindu Hotel, which opened in 1988 and was listed on the A-share market, was auctioned twice by the court in 8 years due to the decline in profits year after year, with a land area of 5,488 square meters and a construction area of 50,000 square meters, and only sold for 410 million yuan, which was lower than the auction price.
For example, at the end of 2023, the auction price was estimated at 2.397 billion yuan, and after less than half a year, the valuation became 1.671 billion yuan.
Judging from the sale of star-rated hotels by real estate giants, they may have woken up.
The economy driven by a few rich people cannot withstand the scrutiny of time, and the middle-class poor ghosts attracted by the rich effect are like fireworks, fleeting, and finally lose nothing.
Many netizens said: "It's not that you can't afford to live in a hotel for 3,000 a night, it's just that a boutique chain of hundreds of nights is more cost-effective", "The most regrettable thing about the closure of the Opposite House is "toilet and roast duck", "I can't bear to eat there"......
Therefore, from the point of view of the fact that The Opposite House wants to become a "hypermarket", the transformation is a wise choice, and it is a retreat to advance.
After all, some media have analyzed that the rent of a "big seller" for half a year may be more than the profit of a hotel for a year.
Write at the end
Just like some people are born and some people die, the shops in the city also come and go, some restaurants close, and some restaurants open.
But whatever the outlook, this is the most appropriate arrangement.
No matter what difficulties you encounter, you must swim against the current, and only with full momentum can you turn the loneliness when you close the store into the capital to talk and laugh after success.
Whether the transformation of The Opposite House continues to take the luxury route or returns to the general public, it is an innovative breakthrough in the industry. It is not easy to operate, even though it is full of many unknown challenges, but as long as you go all the way and do not forget your original intention, you can always keep it.
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