EV camping cuts into summer hotel revenue
Data from Guosen Securities shows that in the first week of summer vacation, revenue per available room in economy hotels in China fell 8.2% year-on-y...
Data from Guosen Securities shows that in the first week of summer vacation, revenue per available room in economy hotels in China fell 8.2% year-on-year, and in mid-scale hotels by 7.8%. Average hotel occupancy from July 6 to 12 was 62.3%, down 3 percentage points from a year earlier. The trend is attributed to the growing practice of sleeping in electric vehicles, which eliminates accommodation costs thanks to widespread charging infrastructure. Views of related videos on Chinese platforms exceeded 9.8 billion, and posts about overnight stays in EVs on Xiaohongshu surged 500% year-on-year.