The high ones continue to rise、The low ones continue to fall。First-tier cities increased year-on-year；Most other regions declined year-on-year。

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Average house price、Average occupancy rate、RevPAR and year-on-year are:

62 five-star 821.40 yuan +1.66%、64.00%+1.59%、525.70 yuan+3.27%，

132 four-star hotels 490.50 yuan+0.45%、61.40%+5.68%、301.17 yuan+6.16%，

203 three-star 360.90 yuan +1.46%、57.60%+5.49%、207.88 yuan+7.04%，

160 two-star hotels 253.20 yuan-8.16%、58.80%+9.91%、148.88 yuan +0.94%，

12 one-star hotels 203.70 yuan+33.93%、42.90%+42.05%、87.39 yuan+90.27%。

Zhao Huanyan commented: Beijing’s hotel industry has experienced a year-on-year increase of 12 and a decrease of 12 and 7 in the past 19 quarters，Alternative increases and decreases in the last 6 quarters。

[Shanghai Star Hotels 2015]

Average house price、Average occupancy rate、RevPAR and year-on-year are:

65 five-star hotels 970.11 yuan+2.61%、65.40%+4.09%、634.45 yuan+6.81%，

66 four-star hotels 514.07 yuan+4.39%、68.26%+1.93%、350.90 yuan+6.40%，

74 three-star hotels 334.31 yuan + 4.46%、60.20%+2.80%、201.25 yuan +7.38%，

30 two-star hotels 239.58 yuan-0.58%、69.43%+0.75%、166.34 yuan +0.25%，

1 hotel with one star rating 156.72 yuan +12.47%、54.92%+56.47%、86.07 yuan +75.98%。

Zhao Huanyan commented: Shanghai’s hotel industry has experienced a year-on-year increase of 9 and a decrease of 9 and 10 in the past 19 quarters，Continuous increase in the last 8 quarters。

[Sino Hotel Hong Kong(01221.HK)2015】

Operating income of 3 hotels 1.HK$5.2 billion、Decreased by 9 year-on-year.21%；

Net profit of 3 hotels 8513.HKD 340,000、Decreased by 24 year-on-year.52%。

[InterContinental Hotels Group 2015 RevPAR]

265 hotels in Greater China (including 32 hotels、0.90,000 rooms opened in 2015) increased by 0.3%；

In Greater China, mainland China increased by 2.9% and Hong Kong and Macao decreased;

First-tier cities in the Mainland increased by 6.0%.

5032 hotels worldwide、74.40,000 rooms (273 hotels opened in 2015) increased by 4.4%。

[InterContinental Hotels Group 2015 operating income]

USD 1.803 billion, a year-on-year decrease of 2.96%.

Zhao Huanyan’s comment: It is because the operating income from the sale of the hotel has been excluded。

[Intercontinental 2015 net profit]

Net profit after deducting non-recurring gains and losses4.US$1.1 billion、up 5 year-on-year.11%。

Zhao Huanyan’s comment: Deducting non-recurring gains and losses is deducting the proceeds from the sale of the hotel。Increase in management fees promotes increase in net profit，Greater China management fee income increased by 17% in the two years from 2014 to 2015。

The hotels that have been opened in the mainland include: 30 InterContinental；Crown 188bet app 70；Indigo 5；70 homes during holidays；50 smart choices；Hualup 3 Homes。

Opened hotels in Beijing include: 2 InterContinental、8 Holiday Homes、8 Holiday Homes、8 smart choices。

The hotels that have been opened in Shanghai include: 4 InterContinental、Indigo 1、Crown 9、10 Holiday Homes、9 smart choices。