How does Jinjiang impact the “boss” of global hotels

Jinjiang Hotel, as the “boss” of China’s hotel market, has been making constant moves since the beginning of the new year. Under the situation of rapid recovery of the tourism market, it gradually aims at the “boss” of global hotels. On April 1, a reporter from Beijing business daily learned from inside Jinjiang International Group that Yu Minliang, former chairman of Jinjiang International Group, retired and Zhao Qi served as secretary of the Party committee and chairman of Jinjiang International Group. However, when the Beijing Business Daily reporter further asked whether the chairman of Jinjiang Hotel under Jinjiang International Group would also change, the relevant person in charge said that everything was subject to the announcement.

It is worth noting that it is not only the parent company of Jinjiang hotel that has been “changing the commander”, but also the high-level personnel adjustment of Jinjiang Hotel in recent years. Just recently, Jinjiang hotel also announced that the board of directors has decided to appoint Zhu Qian as the CEO of the company for the same term as the current board of directors. At the same time, the board of Directors recommended Zhang Xiaoqiang as the director candidate of the ninth board of directors of the company, and recommended Zhang Xiaoqiang as the vice chairman of the company.

On the other hand, due to the impact of the epidemic, the performance of Jinjiang Hotel in the past year is not ideal. According to the financial report, the total operating revenue of Jinjiang Hotel in 2020 was 9.898 billion yuan, a year-on-year decrease of 34.45%. Meanwhile, the net profit attributable to the shareholders of the listed company was 110 million yuan, a year-on-year decrease of 89.91%, and the non net loss was 670 million yuan, a year-on-year decrease of 175.05%.

However, this did not slow down the pace of Jinjiang Hotel layout. According to the data, Jinjiang hotel still opened 1842 new hotels last year. At the same time, Jinjiang Hotel in the expansion of the hotel is also stepping up the operation. Recently, Jinjiang Hotel announced that its fixed increase plan of raising 5 billion yuan was officially completed.

Not only that, Jinjiang hotel has further defined its future strategy. In January this year, Jinjiang Group held a meeting of Jinjiang Hotel in China, deployed the target tasks for 2021, further defined the strategic positioning of China in the next three years, expanded the market and entered the first place in the world. In the next three years, Jinjiang China aims to sign 10000 new hotels and open 7000 new ones. At that time, Yu Minliang also stressed that in order to achieve the goal of development, profit and overseas brand landing, Jinjiang brand should set global standards in the future.

“The scale of hotels alone is certainly not enough. If we look at the world, Jinjiang still needs to work hard on improving the service quality and brand influence of hotels.” Zhao Huanyan, chief knowledge officer of Huamei hotel consulting agency, analyzes and believes that.

According to the ranking of global hotels previously published by hotels magazine, Marriott, which acquired Starwood in 2016, ranks first. Jinjiang, the Chinese hotel group, came in second. Gu Huimin, Dean of the school of tourism science of Beijing International Studies University, also said that Jinjiang hotel is currently the first in the world and second in the world from the scale and the number of hotels. But scale alone is not enough. In the long run, the biggest challenge for Jinjiang is how to make its brand famous, not just large-scale. In the future, Jinjiang will also have brand value.

In addition to the need to expand competitiveness in the international market, in the domestic market, Jinjiang hotel has also been closely pursued by its rivals, and domestic hotel groups such as Huazhu have accelerated their “horse racing” in the domestic market. At the 2019 Huazhu World Conference, Ji Qi, founder and chairman of Huazhu group, said that its Hanting hotel will achieve “ten thousand lights” in 2022 (that is, 10000 hotels in 2022). Just recently, Huazhu and rongchuang cultural tourism also set up a joint venture hotel management company, Yongle Huazhu, and tried to take the opportunity to introduce the German hotel group (DH), which was acquired by Huazhu, into the domestic high-end hotel market. “At home, Huazhu is obviously Jinjiang’s biggest competitor, while in the international market, Jinjiang still needs to surpass the world’s largest hotel group Marriott International.” There is an analysis of the industry.

Gu said that whether the international and domestic interests will be the first in the future depends on the impact of globalization. In the future, Jinjiang hotel has a long way to go, whether in the domestic or international market.

Beijing Business News (reporter Guan Zichen, intern reporter Wu Qiyun)

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