According to Guosen Securities, in the first week of summer break, revenue per room at budget hotels in China fell 8.2% year-on-year, and at mid-range hotels by 7.8%. Average hotel occupancy from July 6 to 12 was 62.3%, down 3 percentage points from last year.
Bloomberg attributes this to the growing popularity of sleeping in electric vehicles: owners save on lodging by using air conditioning and charging at highway stations. On Xiaohongshu, posts about sleeping in EVs rose 500% year-on-year, and views of videos on "camper travel" on Chinese video platforms exceeded 9.8 billion.