December 1，188bet Online Sports Betting and Casino issued another announcement: It plans to provide a fixed increase of 100 million yuan to HNA's hotel group。This is the second time it has launched a private placement in the past eight months since its listing - the first round was only released on November 28, three days ago，Successful private placement of nearly 32 million yuan。In other words，188bet Online Sports Betting and Casino issued two consecutive rounds of fixed increase announcements within a week，The total amount reaches 1.3.2 billion。

The target of this stock issuance is Hainan Guoshang Hotel Management Co., Ltd., which is 100% owned by HNA 188bet Online Sports Betting and Casino Group，The funds raised in this plan will mainly be used to supplement working capital，Maintain a reasonable capital structure，Improve the company's profitability，Provide strong support for the company’s future development。

After HNA Tourism Group invested 500 million yuan in 188bet Online Sports Betting and Casino last September，This is another increase from HNA Tourism Group，It can be seen that HNA Tourism Group attaches great importance to the domestic outbound travel market and shared accommodation，In the future, 188bet Online Sports Betting and Casino will also be deeply integrated into the international development strategy of HNA Tourism Group。

After market cultivation in the past five years，Non-standard 188bet Online Sports Betting and Casino products are favored by more and more consumers，Many online short-term rental companies have also received favor from the capital market，A large number of related non-standard 188bet Online Sports Betting and Casino company booking companies were born (hereinafter collectively referred to as online short-term rental companies)。From market statistics，There is an obvious development watershed in the online short-term rental industry，Before 2016，Many domestic online short-term rental companies are in the initial stage of development，Except Tujia、188bet Online Sports Betting and Casino，Most of the remaining players are in Series A and earlier financing stages，The industry echelon is emerging。Entering 2016，The domestic online short-term rental market is expanding rapidly and is further differentiated，Exhibited by the increase in companies receiving large amounts of financing，188bet Online Sports Betting and Casino became the first "shared accommodation" stock to be listed on the market，Xiaozhu completed D round of financing，The echelon phenomenon is more obvious，Form Tujia、Little Pig、188bet Online Sports Betting and Casino、The first echelon represented by Wooden Bird，The industry structure is becoming increasingly clear。

Airbnb, the originator of shared 188bet Online Sports Betting and Casino, continues to dominate the world，Market value exceeds US billion，Announced coming to China in 2015，After cautiously exploring for more than half a year，Started recruiting in the Chinese market in 2016，Preparing for vigorous expansion，Do not rule out the possibility of direct investment and acquisition of similar domestic companies。

The entry of Airbnb is bound to change the domestic online short-term rental market pattern。In the future, competition in the domestic online short-term rental industry may eventually evolve into the Ctrip system (Tujia、Ant short-term rental)、Hainan Airlines (188bet Online Sports Betting and Casino)、Competition between Airbnb (series) and many niche players。

As the first domestically listed accommodation sharing company，188bet Online Sports Betting and Casino’s business is growing rapidly。188bet Online Sports Betting and Casino 2016 semi-annual report data display，188bet Online Sports Betting and Casino’s revenue increased nearly 9 times in the first half of the year，Cash flow realization from operating activities 2.55 times growth。User operations，As of the first half of this year，The number of new users increased by 874 compared with 2015.25%，Overseas housing supply expanded to 250,000 units，Covering 729 cities and regions in 70 countries。

Meanwhile，188bet Online Sports Betting and Casino is still in the loss stage，But the semi-annual report is compared with the same period last year，Loss has begun to narrow。188bet Online Sports Betting and Casino CEO Zhang Hengde said，Hope that 188bet Online Sports Betting and Casino will achieve the goal of breaking even in 2017。For this，188bet Online Sports Betting and Casino plans to continue to strengthen its overseas shared accommodation model and service extension。

“Airbnb + Caesar Travel” shared 188bet Online Sports Betting and Casino model

The key to shared 188bet Online Sports Betting and Casino is to allow guests staying in someone else’s home to enjoy a unique cultural immersion experience，This is something a hotel cannot do。A Morgan Stanley report on the impact of shared 188bet Online Sports Betting and Casino represented by Airbnb on hotels and travel agencies，The main difference between Shared 188bet Online Sports Betting and Casino and its competitors is that it can provide unique listings and a wide range of 188bet Online Sports Betting and Casino options，Including the entire standard apartment、Residential、Holiday rental，There are also the most basic apartments with single rooms or couches，There are also luxurious million-dollar mansions。

Through low prices and culturally unique experiences，Create experience advantages over low-end residences，At the same time, it makes up for the disadvantages of relatively high-end residences in terms of standard quality。Research shows，Users who share 188bet Online Sports Betting and Casino value having a unique experience，Also require affordable prices。

As domestic tourists’ travel experience matures and their demand for in-depth experience travel increases，More and more tourists choose to travel overseas。Sharing unique accommodations、Experience with regional characteristics and culture、Relatively cheap prices and a wide range of 188bet Online Sports Betting and Casino options are beginning to be favored by many outbound tourists。But for Chinese outbound tourists，Language、Trust and cultural differences are still important factors hindering domestic outbound travel consumers。

Therefore，Airbnb C2C shared accommodation model that pays more attention to tourists’ autonomy，Not suitable for the needs of most current domestic outbound travel users。Although we also focus on the international shared accommodation market，But 188bet Online Sports Betting and Casino has improved its operating model，More suitable for the habits of domestic outbound travel users。

188bet Online Sports Betting and Casino CEO Zhang Hengde explains 188bet Online Sports Betting and Casino’s model this way: The “Airbnb + Caesar Travel” model is actually a localized innovation of the European and American C2C model。188bet Online Sports Betting and Casino not only provides a large number of non-standard accommodations like Airbnb，The quality of each overseas property will be selected and screened based on Chinese people’s living habits。

Last month，Airbnb announced the launch of new service Trips at the Global Host Conference in Los Angeles，The increase in new business will prompt Airbnb to transform from a non-standard accommodation booking website into a comprehensive service 188bet Online Sports Betting and Casino enterprise。Its CEO Chesky began investing his energy in creating Trips two years ago，Hope to be able to prepare for the next stage of Airbnb’s development。

Now mobile channels are changing the status quo，Users are gradually starting to use smartphones and tablets to search for destination services at their destinations。Long time，High fragmentation of destination services、Resources are dispersed，Making this area not yet widely developed，There is huge potential and considerable profits。In terms of market capacity，The 188bet Online Sports Betting and Casino service market has a very large space，Online short-term rental companies from point to face，Develop towards a travel service company，Contributes to higher valuation，Expand profit sources。

Therefore，Grand 188bet Online Sports Betting and Casino service will be a development direction for online short-term rental companies in the future。

It has been a long time since 188bet Online Sports Betting and Casino began to provide users with one-stop travel service "Caesar Travel"，Includes airport pickup、Local Butler、Overseas bodyguards, etc.，Thus creating a one-stop service system for Chinese outbound travel。This year’s semi-annual report shows，Currently travel services account for nearly 44% of revenue，There is still room for growth in the future。Zhang Hengde thinks，The core advantages of this model，A simple summary is two words: quality control + service。Solving the language barrier for Chinese people traveling abroad、Transportation、The "pain points" of information asymmetry and trust crisis caused by cultural differences。

In addition，188bet Online Sports Betting and Casino is in the same industry、Non-standard accommodation will also be combined in cross-industry cooperation、Product output served by local people，Precise conversion and synergy through these channels，Reduce customer acquisition costs。

Postscript

Backed by HNA Tourism Group，The unique advantages of Zhubai Furniture。Displayed in this "Announcement"，In the future, 188bet Online Sports Betting and Casino will combine the high-quality resources of HNA and its related entities，Get accurate user diversion、Online resource docking、Offline channel support and user data cooperation，Better help 188bet Online Sports Betting and Casino meet the one-stop needs of outbound travel users，Promote 188bet Online Sports Betting and Casino to better achieve business and financial development goals。

However，With the gradual clarity of the online short-term rental market and changes in the macro environment，It will not be easy for 188bet Online Sports Betting and Casino to achieve breakeven in 2017。

First of all, the growth of my country’s outbound 188bet Online Sports Betting and Casino shows signs of slowing down.The number of Chinese outbound tourists reached 1 in 2015.1.7 billion people, YoY growth 9.8%，This is the first year with less than double-digit growth since the series of reports was released。Next five years，China’s outbound tourism market will maintain a new normal of steady growth，More rational consumption choices，Tourists pay more attention to the life experience of the destination in overseas destinations。188bet Online Sports Betting and Casino’s main source of income is overseas accommodation and tourism services，Every business will be affected by the slowdown in outbound tourism growth，Zhubijia needs to attract more domestic outbound travel customers to use its services。

Secondly, 188bet Online Sports Betting and Casino competition is becoming increasingly fierce.In addition to competition from old rival Airbnb，188bet Online Sports Betting and Casino has added a new opponent。Tujia acquires Ant Short-term Rental，Then Ctrip、Income from Qunar’s apartment and B&B business，Not only improves the business layout，Also got Ctrip、Ctrip’s huge traffic entrance advantage，In addition, Tujia has already deployed its housing overseas (HomeAway has provided its own international housing to help Tujia with its international layout)。Little Pig、Muniao and others have begun to test the waters in Japan, South Korea and Southeast Asia markets or expand overseas markets。Can foresee a period of time in the future，The market competition for the limited overseas housing market and customer sources will become increasingly fierce。

Third，Investors are no longer willing to listen to stories，Profit becomes the focus。Wu Zhixiang once said in a public speech，“No profit means that the users in front of you are subsidized，User only recognizes subsidies，Your company is not recognized，I didn’t recognize your efficiency in transforming and improving the industry，Your gross merchandise volume (GMV) is illusory，Market share is not stable，When your subsidy stops，Market share 188bet Online Sports Betting and Casino drop soon。”

He thinks，The online travel industry will become more and more rational，It is foreseeable that “money-burning” behaviors such as price wars will gradually decrease，We will pay more attention to improving user experience、Word-of-mouth and industry efficiency。Investors will become more and more rational in the future，Profit is the main issue that everyone is concerned about。Can this private placement help 188bet Online Sports Betting and Casino achieve breakeven in 2017？

The results are worth looking forward to.

*Author of 188bet Online Sports Betting and Casino article: Wang Yanchao (personal WeChat: wangdayan110)，Favored Analyst，Welcome to add、Communication！

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