EV Camping and Car Sleeping Cut into China Hotel Revenue
According to Guosen Securities, revenue per available room at budget hotels in China fell 8.2% year-on-year in the first week of summer vacation, whil...
According to Guosen Securities, revenue per available room at budget hotels in China fell 8.2% year-on-year in the first week of summer vacation, while mid-range hotels saw a 7.8% decline. Average hotel occupancy from July 6 to 12 was 62.3%, down 3 percentage points from a year earlier. Bloomberg attributes this to the growing trend of sleeping in electric vehicles, where owners save on accommodation by using air conditioning and charging at highway stations. On Xiaohongshu, posts about overnight stays in EVs increased 500% year-on-year, and views of camper-van travel videos on Chinese video platforms exceeded 9.8 billion.