April 5，Boutique 188bet Online Sports Betting and Casino (600258.SH) issued an announcement saying，The privatization purchase transaction of Home Inns has been completed，Previous April 1st，Home Inns 188bet Online Sports Betting and Casino Group and BTG Hotels (Cayman) complete merger。This is after Plateno 188bet Online Sports Betting and Casino (formerly Seven Days 188bet Online Sports Betting and Casino) merged into Jinjiang Group，Another private 188bet Online Sports Betting and Casino giant Homeinns also returned to privatization，The receiver is also a state-owned enterprise。

Home Inns have been undervalued in the US stock market for a long time，In 2015, Homeinns started the privatization process，After this transaction is completed，Home Inns Group will become a wholly-owned subsidiary of BTG Hotels，Currently，Homeinn 188bet Online Sports Betting and Casino Group’s American Depositary Shares (ADS) have stopped trading on Nasdaq。At the same time，After Home Inns 188bet Online Sports Betting and Casino Group delisted from the United States, there is no need to find a shell company or re-IPO queue，Instead, it will be directly listed on the A-share market as a subsidiary of Beijing Tourism 188bet Online Sports Betting and Casino。Since then，The only remaining budget 188bet Online Sports Betting and Casino chain listed in the United States is Huazhu 188bet Online Sports Betting and Casino。

BTG 188bet Online Sports Betting and Casino focuses on high-end 188bet Online Sports Betting and Casino positioning products，With Home Inn, we can form a customer base with full coverage of high, medium and low levels，Now the two are combined，Home Inns can not only reduce the cost of living with Plateno China、The gap between Jin Jiang 188bet Online Sports Betting and Casino，The bigger gain is the smooth listing of A shares，Overview of the market，There are very few cases of delisting US stocks and directly listing domestic A-shares。

Obviously, Homeinns is one of the big winners from this merger.

However，Just a few hours after the Beijing Tourism 188bet Online Sports Betting and Casino issued an announcement on April 5，Some media revealed that an attack on a girl occurred in a Home Inn in Beijing in the early morning of April 3rd。As things ferment，This matter can be said to have caused thousands of waves with one stone，The headlines reported by various news media for a time。With the intervention of the police，Home Inns 188bet Online Sports Betting and Casino Group issued three statements in a row under pressure，Indicated that it will actively cooperate with the local public security organs in the investigation，We will never tolerate illegal behavior；Hope to get in touch with "Wanwan"，I also hope to get her cooperation，Solve the matter properly。

That’s it!，No matter what the outside world speculates，We believe that all consumers want to see the truth of the investigation as soon as possible，In the end, the police and Homeinn 188bet Online Sports Betting and Casino Group officials will also give public opinion the truth，Give the victim justice。Meanwhile，As a 188bet Online Sports Betting and Casino accommodation consumer，I believe everyone hopes that such incidents that threaten consumer safety will not happen again，I hope all operators can learn lessons，Take relevant measures to ensure customer safety。As a practitioner, in addition to hoping that the entire industry can develop well，Can’t help but reflect on what went wrong，Would lead to such a bad event。

Behind the author’s attack，Reflects some problems existing in the development of the domestic mid- to low-end 188bet Online Sports Betting and Casino market represented by Home Inns in recent years。July 8, 2015，By China Tourist Hotels Association、The "12th China 188bet Online Sports Betting and Casino Group Development Forum and the 9th International Forum on 188bet Online Sports Betting and Casino Brand Building" hosted by the Hong Kong Polytechnic University opened in Taiyuan。The forum released the "Top 60 Chinese 188bet Online Sports Betting and Casino Groups in 2014" at the same time，Home Inns Group is on the list，And ranked first。As a representative，Home Inns 188bet Online Sports Betting and Casino Group cannot conceal the difficulties it faces in its development。

1. Under the Red Sea Market，188bet Online Sports Betting and Casino occupancy rate and RevPAR have continued to decline in recent years。

Homeinn 188bet Online Sports Betting and Casino Group’s total revenue in the fourth quarter of 2015 was approximately RMB 16.7.7 billion yuan，An increase of 2 compared to the same period last year.6%，Significant month-on-month growth。The total revenue of Home Inns in 2015 was approximately RMB 66.71.1 billion yuan。188bet Online Sports Betting and Casino occupancy rate in the fourth quarter of 2015 was 83.1%。RevPAR (average actual operating revenue per available room) in the fourth quarter of 2015 was RMB 132，An increase of 1 compared with the same period in 2014.5%；The RevPAR of an old store that has been operating for 18 months is 132 yuan，An increase of 0 compared with the same period in 2014.8%。

However，188bet Online Sports Betting and Casino occupancy rates continue to decline。The author counted it，Homeinn’s annual 188bet Online Sports Betting and Casino occupancy rate and RevPAR data since 2012。

It can be seen from the above report data，Since 2012，Home Inn、Huazhu、Jin Jiang 188bet Online Sports Betting and Casino Group’s occupancy rate has been declining，At the same time, the RevPAR value, a key indicator that measures the 188bet Online Sports Betting and Casino's revenue capability, is obviously declining。Home Inn’s RevPAR in 2012 was 144 yuan，In 2015 RevPAR is 134.25 yuan，Huazhu 188bet Online Sports Betting and Casino and Jinjiang 188bet Online Sports Betting and Casino both encountered the same situation。Analyze the reasons，On the one hand, the overall domestic economic environment has been in a downward trend since 2010，Economic growth continues to decline，Enterprise economic activity decreases，In the economic cycle adjustment period，Weak accommodation demand，Revenue growth and room revenue are naturally under great pressure。

Another more critical reason is the increasingly fierce competition in the domestic mid- to low-end 188bet Online Sports Betting and Casino market。To gain competitive advantage，Keeping prices low has become the choice of every budget 188bet Online Sports Betting and Casino。Currently，Home Inn expanded from 1,772 stores in 2012 to 2,922 stores at the end of 2015，Huazhu expanded from 1,035 stores in 2012 to 2,763 stores at the end of 2015，7Days expanded from 1,345 stores in 2012 to 3,000 stores at the end of 2015，Many other low- to medium-sized 188bet Online Sports Betting and Casino companies Jinjiang Inn、GreenTree、Super 8 and other brands have already entered the 1,000-store scale，Some of these budget 188bet Online Sports Betting and Casino chains have opened stores in third- and fourth-tier cities，This means that the market has become saturated，It is a complete red ocean competition，This will inevitably affect room prices and occupancy rates。

2、Slow revenue growth，The number and scale of 188bet Online Sports Betting and Casino have become an important support for profits and revenue

From the above chart we can see，The number of Home Inns Group 188bet Online Sports Betting and Casino in 2012 was 1,772，营收5.77 billion元，The number of 188bet Online Sports Betting and Casino reached 2922 in 2015，But the revenue is only 66.77.1 billion yuan，The number of Home Inns has increased by approximately 65% ​​in four years，And revenue only increased by 15.7%，Indicating that the profits of budget 188bet Online Sports Betting and Casino continue to decline，Although cost control and operational efficiency improvements have helped maintain relatively stable profits and profit margins，But operating income relies heavily on scale and quantity expansion，And revenue growth is slow，Home Inns is stuck in a dilemma of low income growth。

In order to get rid of the declining revenue situation，Get rid of the red sea competition of budget hotels，Many low- and mid-range budget hotels are seeking new ways out，One of the important directions is to develop into the mid-range 188bet Online Sports Betting and Casino market。In recent years, mid-range hotels have become a new investment hot spot，The mid-range 188bet Online Sports Betting and Casino market has become a battleground for all companies。

Early April 2015，Homeinns announces the launch of a new mid-range 188bet Online Sports Betting and Casino brand - Homeinns Select，The mid-range business chain brand "188bet Online Sports Betting and Casino" launched in 2008 has been upgraded to a mid-to-high-end 188bet Online Sports Betting and Casino。Sun Jian, CEO of Home Inns 188bet Online Sports Betting and Casino Group, said at the time，End of 2015，The number of two mid-range hotels at Yihe Select will exceed 160。Next three years，Home Inn’s mid-range hotels will maintain an average expansion rate of 150 per year，The proportion will become larger and larger。

Huazhu has launched two differentiated mid-range brands。All seasons are standardized rooms，Emphasis on consistent quality service。Starway focuses on room personality，Each store presents a different style。Huazhu’s outstanding performance in the mid- to high-end market in 2015: as of the end of 2015，The total number of mid- to high-end 188bet Online Sports Betting and Casino owned by Huazhu is 310，Includes: 186 All Seasons 188bet Online Sports Betting and Casino、118 Starway 188bet Online Sports Betting and Casino、3 Xiyue 188bet Online Sports Betting and Casino、2jiamanxinVacationHotels and 1 Mercure 188bet Online Sports Betting and Casino.

Plateno Group’s mid-range coverage is more comprehensive，There is a James Bond coffee shop that combines coffee culture with hotels，ZMAX trendy fashion that targets trendy people，There is hope of winning over female consumers，As well as four mid-range brands such as Lavande, which continues to lead in store opening speed。As of July 2015，Plateno owns 14 188bet Online Sports Betting and Casino brands and 3 cross-border brands，Economic coverage、Mid-range and high-end hotels。

In addition to the previous three major budget 188bet Online Sports Betting and Casino groups，International high-star 188bet Online Sports Betting and Casino groups have also joined the battle for the mid-range 188bet Online Sports Betting and Casino market。Hilton also introduced the mid-range brand Garden into China in 2013，Starwood jointly promoted Aloft and Element in 2014，Accor’s mid- to low-end brands include Grand Mercure、Novotel、Mercure、Ibis Styles and Ibis operate in China。

Developing into mid-range hotels can bring better profit returns，Sun Jian, CEO of Homeinns 188bet Online Sports Betting and Casino Group, previously stated in an interview with the media，Home Inn’s selected RevPAR can reach 300 yuan，So Homeinns will increase investment in mid-range hotels in the next few years。Huazhu 188bet Online Sports Betting and Casino’s 2015 financial report，Ji Qi said: "Despite China's macroeconomic weakness，However, the same-store occupancy rate of mature hotels under Huazhu has reached 88%，Mature mid-to-high-end hotels RevPAR same-store increase by 6.5%。”Enter the mid-to-high-end market segment、Product differentiation has become the key to the future development of each 188bet Online Sports Betting and Casino group。

However, in order to control costs for a long time，Budget 188bet Online Sports Betting and Casino companies have begun to take some very extreme measures，There are even some that may create potential risks、Acquire gray income by harming the interests of customers，The author has encountered similar situations many times，Received small card、Call at night, etc.，Obviously the hoteliers are also aware of this situation，How much of the 188bet Online Sports Betting and Casino management is responsible for this attack，I’m afraid we have to wait until the final police investigation。

The attack seemed accidental，But before this situation, the majority of consumers did not know that such a dangerous situation was hidden in the peaceful 188bet Online Sports Betting and Casino，The attack tore this shady curtain apart。In addition，The factor that cannot be ignored is，Due to the pursuit of profit maximization，Some budget hotels have imbalanced security and staffing configurations，Some insiders said，The ratio of staff to security personnel in star hotels is generally about 10:1，But in a budget 188bet Online Sports Betting and Casino it may be a 40:1 ratio，In case of emergency，It will cause staff shortage problem。

Budget hotels create new demand for accommodation，Relying on the chain franchise model，Domestic budget hotels have achieved rapid expansion and development。The operating profits of budget hotels are now declining，When franchise stores account for an absolute majority，How to maintain consistency in team management and service specifications is a long-term challenge faced by economical 188bet Online Sports Betting and Casino companies。