Business: Hospitality Stay with me
商業:酒店業,別離開我
As online rivals whizz ahead, hotels try to be both big and nimble.
眼看網絡競爭對手颼颼前進,各酒店力求變得大而靈活。
HOTEL companies check out well just now.
酒店企業最近表現不錯。
On May 3rd Hyatt became the latest chain to report sunny results—profits were up by 55% over the same quarter in 2015.
5月3日,凱悅成為最新發來喜訊的連鎖酒店——其利潤率相比2015年同季度增長55%。

In America RevPAR (revenue divided by rooms available in a given period) has risen for the past six years, according to STR, a data outfit.
據數據機構STR報告,在美國,單間可用房收益(指一定時間內的客房總收入除以可用客房總數)過去六年持續上升。
Analysts debate when fortunes will change.
分析家們已經開始討論好運何時會到頭的這個問題。
America’s market has been buoyed by a temporary mismatch of slow-growing supply and robust demand.
美國市場緩慢增長的供給和強勁的需求之間存在著一種暫時性的錯位,而美國市場正是靠這點才支撐到今天。
In the long term, however, the greatest uncertainty is not cyclical, but structural, as online firms change the industry’s shape.
但是從長遠看來,隨著線上公司逐漸改變該行業格局,最大的不確定性不是在于周期,而在于結構。
Neither Airbnb, a room-sharing site, nor online travel agents are hotels’ obvious adversaries.
不管是空房租賃網站Airbnb,還是網上旅行社都不是實體酒店的顯著競爭對手。
Big hotel chains subsist on weary business travellers; Airbnb does not.
大的連鎖酒店主要靠疲憊的商務旅客賺錢,而Airbnb卻不是。
Yet the growing popularity of the platform, now valued at around $25 billion, means it may siphon more guests from hotels in future.
然而這個現在市值250億美元的住宿預訂平臺,其日益增長的受歡迎程度意味著其未來可能從酒店吸引走更多客戶。
Booking sites help hotels but chomp into their margins with fees of up to 25%.
預定網站對酒店有一定幫助,但高達25%的中介費卻使酒店利潤大減。
Last year they accounted for nearly one in five bookings in America, up from one in ten in 2006, according to Phocuswright, a research firm.
據研究機構Phocuswright報告,在美國,來自網站的房間預訂占比從2006的十分之一上漲到去年的近五分之一。
In Europe, where the hotel market is more fragmented, online agents account for one in four.
在酒店市場較為分散的歐洲,在線中介的比例則達到了四分之一。
For hotel firms, one solution is to get bigger.
對于酒店集團來說,解決方法之一就是擴大經營規模。
After a bidding war with Anbang, a Chinese insurer, Marriott agreed to buy Starwood for more than $13 billion last month.
上個月,經歷了一場與中國保險公司安邦之間的投標大戰后,萬豪同意以超過130億美元的價格收購喜達屋。
The result will be a 1.1m room behemoth. Other firms are bulking up, too.
這意味著一個擁有110萬間客房的巨型企業由此誕生。其他公司也在擴大其規模。
Last year saw $67 billion of hotel mergers, according to Dealogic, a research firm—the highest level since 2007.
據研究機構Dealogic稱,去年酒店企業并購金額達670億美元,創下自2007年以來的最高記錄。
Scale will help hotels battle their main competitors: other hotels.
巨大的規模將使酒店在與其主要對手(其他酒店)競爭時更具優勢。
But the recent spate of deals is also a response to challengers online.
但最近的并購熱潮也是對其網絡對手的一種回應。
A bigger hotel firm can seek lower fees from online travel agents.
酒店公司越大,需要付給網上旅游代理商的錢就可以越少。
Investments in technology can be deployed across more rooms.
技術上的投資可以用于覆蓋更多的房間。
And the more hotels a firm manages, the more credibly it can urge travellers to bypass third parties and look for rooms on its own site, as Hilton, InterContinental Hotels and others are doing.
并且如果一個企業運營的酒店數目越多,它就越能說服旅行者們繞過第三方,直接登錄酒店官網預訂房間,例如希爾頓,洲際酒店等酒店就是如此。
Hotels are also finding new partners or acquiring firms outright.
酒店也在需找新的合作伙伴或直接并購整個公司。
On April 5th AccorHotels, a French firm, said it would buy onefinestay, an upscale rival to Airbnb.
4月5日,法國酒店集團雅高稱其將收購“高端版” Airbnb的對手Onefinestay。
InterContinental, which was due to hold its annual meeting on May 6th, is partnering with a company called Amadeus to launch a new, cloud-based reservation system that gives more personalised service.
本該在5月6日召開年會的洲際酒店卻正忙于與一家叫Amadeus的公司聯手推出一個全新的云端預訂系統以提供更個性化的服務。
Despite such efforts, it will be difficult for hotel firms to keep up.
盡管做出了這些努力,酒店還是很難保持其發展勢頭。
They cannot beat online firms’ reach.
網絡公司的覆蓋面要比他們大得多。
Airbnb has more rooms than even the combined Marriott and Starwood; online travel agents’ inventory is broader still.
例如,Airbnb所擁有的房間甚至比合并后的Marriot和Starwood都要多,而網上旅游中介的房間存量更多。
Expedia’s scale is particularly worrisome for hotel companies.
Expedia的規模尤其令酒店企業擔憂。
Its sites include not just Expedia. com but Travelocity, Hotwire, Hotels. com and Orbitz—an acquisition regulators declined to challenge in September to the dismay of hotel chains.
它所擁有的網站不僅僅有Expedia.com還有Travelocity,Hotwire,Hotels.com and Orbitz—監管機構在九月份拒絕提出質疑的這一收購行為使得酒店連鎖業倍感沮喪。
Less than two months later, Expedia said it would pay $3.9 billion to buy HomeAway, which helps property owners rent their houses to those who want them for a holiday.
一個月多后,Expedia稱其將以39億美元的價格收購HomeAway。HomeAway主要致力于幫助房主出租房屋給那些需要房子度假的人。
Matching online firms’ agility will be equally challenging.
想要變得像線上公司那樣靈活也同樣不容易。
Airbnb is trying to attract business types by helping them find homes with wireless internet, 24-hour access and a desk.
Airbnb正試圖通過尋找帶有無線網絡和辦公桌并且能全天候入住的房間,以此吸引商務人士入住。
Expedia plans to offer more listings that show hotel rooms beside houses and flats.
Expedia還計劃提供更多住宿信息,供顧客查詢房屋和公寓附近的酒店房間。
Such a move could make both Airbnb and hoteliers bristle.
該舉動可能會使Airbnb和酒店老板們大為惱火。