November 21，The "2018 China Cultural Tourism Accommodation Industry New Future Outlook" co-sponsored by Zhihui and Jinjiang International Convention and Exhibition was held at the Shanghai National Convention and Exhibition Center。

This forum brings together cultural and tourism comprehensive groups、Domestic Hotel Group、Hotel Owner、Investment institution、Hotel service provider、Practitioners in large accommodation upstream and downstream industries such as marketing service agencies，With the theme of "Five New Changes: How to Build a Big Accommodation Ecosystem"，Discussed the new future of the accommodation industry after changes in consumption structure and demand、How to do new marketing、How to control the integration and boundaries of brands，And how to pass innovative content，Revitalizing existing and incremental markets and other issues。OYO Hotel Partner and Chief Financial Officer Li Wei attended the summit and delivered a keynote speech。

Levi said，There is currently a gap between budget hotel chains and mid- to high-end hotels，Fragmented and unbranded hotels occupy more than 90% of the Chinese hotel market share。

The current bottlenecks and pain points in the development of independent economic hotels，Levi said，188bet online sports betting

The following is the full text of Levi’s speech:

(This article is compiled based on the speech transcript，Not reviewed by the parties。Zhihui slightly deleted)

I am honored to share 188bet Online Sports Betting and Casino with you today，OYO is a very new company，I am also a newcomer in the hotel industry，I have been working in the financial industry for 4 years，Worked as COO and CFO in China Car Rental，Having been in the travel industry for so long，I have the opportunity to work in a larger hotel industry and hope to do more things。

First，Look at the Chinese hotel industry market。Five-star hotels entered China 20 years ago，Now from all seasons、Hanting、There is a huge gap between budget hotel chains such as Home Inn and mid-to-high-end hotels，More than 92% of the market is occupied by non-branded independent hotels，Mostly hotels with less than 80 rooms。It’s the same around the world，Including markets as strong as American chain stores，85% of hotels are non-chain，90% of hotels in the world have less than 100 rooms。

This is a pie chart of China’s hotel market，90% of hotels have less than 80 rooms。The total number of hotel rooms in China now exceeds 30 million，A truly branded hotel chain，Including the largest Jinjiang、Marriott、Sheraton together is more than 2 million，Less than 10% are truly branded。

What is the current situation of these independent hotels?The biggest problem is the gap between supply and demand，And caused consumers to have to pay attention to the price、Location、trade-off between quality，Make a compromise，The general occupancy rate of independent hotels is less than 40%。For the owners of small and medium-sized independent hotels，Although looking forward to branding and standardization，But facing high costs、The problem of low efficiency and low returns，They also want to join the chain brand，But the franchise fee and modification cost of most brands，Also discourages them。 

For OYO，From the world to China，To create a quality life，Seeing such faults and compromises，We hope to use real technology and talents to solve such problems。

This is also an example of mergers and acquisitions，On the left is a hotel before joining OYO，The right side is what it will look like after OYO is listed and launched 15 days later，There are a lot of renovations inside，Because in India，Many problems are unimaginable in China。For OYO，Where is the real energy we bring to the owners？Mainly in four aspects: 1、Quickly find properties in good locations；2、Quick and accurate transformation；3、Good operation；4、Sold。

OYO hotel is separate，India and China are two local markets，OYO’s hotels just started in November 2017，The real development will start on April 17 this year，We formed our first team。

We have many young employees with strong execution capabilities，We will work hard in May，Today it has 180,000 rooms in China，3500 hotels，Distributed in 280 cities across the country。We are still sinking into the market，Except Shanghai、Beijing，Now it has basically covered the most major cities in the country。

The number of rooms we added in one month，Last month it was 4700，Look at the data of the past two years，Sheraton plus Marriott plus Hilton plus IHG have 7,000 rooms per month，Their goal is not just to add 4,700 a month。

Let me talk about the OYO effect，Not just speed，Not just 3.The speed of signing a hotel contract in 2 hours，And more importantly, for most of the owners who join our hotel，We are very proud。Before joining，The occupancy rate is less than 30%，Within three months of joining OYO，Its occupancy rate has increased to at least 55%，Even to 75%。

Public data display，OYO has now become one of the five largest hotel groups in China。

For OYO Hotel，We provide solutions in five aspects，Includes supply、Renovation、Demand、Technology and customer experience。In terms of transformation，Through branding，The door sign of its hotel、In-store 188bet app signage、Room ID、Wall、A series of basic hardware facilities such as lighting，All standardized and organized。Start when the customer enters the lobby，Front desk layout、Elevator door、Corridor Guide、Warm reminders and every detail such as hot and cold water in the guest room，Add OYO hotel screen or logo guidelines。From visual sense to actual experience，OYO Hotel’s brand transformation，Standardize and normalize hotel services。

Now you can see the red and white OYO brand on the streets of 280 cities across the country，Different from ordinary budget hotels，OYO Hotel is already a standardized independent hotel，It is more personalized for young people。

We have more than 800 cooperative suppliers at home and abroad，Now there are more than 200 gold medal suppliers。

The picture above is an interesting wall made by the Shenzhen team，Renovation of an OYO hotel in the old town of Buji, Shenzhen，Directly transformed the wall of the OYO Xiting Hotel facing the road into an 8-story painted cultural wall。

This hotel in Shenzhen，The occupancy rate was only 30% before we went in，The occupancy rate is now between 70% and 90%。After this is completed, it has become a small tourist attraction in Shenzhen，Many people take pictures there、Shopping。

In terms of renovation，OYO invested more than 200 million to renovate hotels in 2018，The number of rooms is growing very fast。

Let’s look at a case: a small hotel with 67 rooms had an occupancy rate of only 19% in February 2018，Achieved 55% occupancy rate in the second month after joining OYO Hotel，58% reached in the third month，Arrived at 72% in the fourth month，Reached 75% in the fifth month，79% in the sixth month，The occupancy rate continues to grow every month。Take a hotel in Shijiazhuang as an example，After joining OYO Hotel，Occupancy rate increased from 40% to 105% in just two weeks。

188bet app In addition to transformation，That’s from the demand side，I would like to give two examples。One example，A small hotel with 67 rooms had an occupancy rate of only 19% in February 2018，Achieved 55% occupancy rate in the second month after joining OYO Hotel，58% reached in the third month，Arrived at 72% in the fourth month，Reached 75% in the fifth month，79% in the sixth month，The occupancy rate continues to grow every month。

Also，Take a hotel in Shijiazhuang as an example，After joining OYO Hotel，Occupancy rate increased from 40% to 105% in just two weeks，The income in a single day turned out to be several thousand yuan，Now the daily income remains above 10,000。

Many people will ask this question，What is our relationship with OTA？Now we have open partnerships with all OTAs，20% of our business volume now comes from OTA。

Look at it from a customer experience perspective，We look at the ratings on OTA，More than 20% of ratings on several platforms are at 4.7 points or above。

In addition to transformation、Besides talents，Our main investment is to build a hotel college，Improve the management capabilities of independent hotels，Opened OYO Hotel Management School in 3 cities across the country，Next June，Aim to open China OYO hotel management schools in at least 30 provincial capital cities。

As of the end of last month，OYO has 17 in South Asia.40,000 rooms，17 in China.50,000 rooms，Now expanded to 11 countries around the world。Opened three more countries in the past two months，Europe is very successful in Italy，6 stores have been opened in the UK，There is also a chance to enter Brazil recently。OYO hotels are still in the early stages，In China，Now accounts for 0 market share of independent hotels.Less than 5%，Just getting started，There is still a long way to go in the future。So for OYO，We want to base ourselves in Asia，Become the world’s largest hotel group，Thank you everyone。