Meituan Dianping announced that it has set a new industry record with over 2 million domestic hotel room nights booked on December 31, 2018. The new record marked a 30% increase over the previous peak of 1.57 million hotel room nights booked on a single day in 2017.
The new record demonstrated the continuous fast growth in Meituan's hotel booking business, which has benefitted from the Company's "Food+Platform" strategy.
With "eating" as its core business, Meituan has grown into a super e-commerce platform for services. It has attracted and retained its customers through the core business, and then expanded into other service categories to cover consumers' lifetime needs. In 2017, over 80% of its new hotel-booking Transacting Users were converted from Transacting Users of its core categories of food delivery and in-store dining.
In the first three quarters of 2018, about 209.6 million domestic hotel room nights were booked on Meituan's platform, an increase of 43.8% year-on-year. The bookings also surpassed the total number for the whole year of 2017.
With the rise of the young generation, the demand for hotel accommodations is shifting from business travelers to leisure travelers who are used to diverse options in hotels. According to Meituan data, 32% of leisure travelers enjoyed hotel cuisines and 17% had entertainment activities in hotels.
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