Beijing, May 8, 2015 /PRNewswire/ -- On May 8, the "8th China Commercial Real Estate Development Summit Forum," jointly organized by SouPu Network and China City Alliance and co-organized by JunTing Hotels among others, was held at the Rosewood Beijing. The event gathered numerous professionals in the commercial real estate field from across the country, including commercial real estate developers, chain brand operators across various sectors, commercial service providers, sign design companies, academic research associations, all coming together to discuss the future of commercial real estate under the new normal.
A number of heavyweight guests attended this forum
The "China Commercial Real Estate Development Summit Forum" hosted by SouPu Network has continuously expanded in scale and improved in caliber since its first edition in Hangzhou, becoming a benchmark and model for industry conferences in China's commercial real estate sector. In 2014, China’s commercial real estate underwent revolutionary disruption, with new-era business models such as e-commerce, O2O, experience-based retail, and culture emerging one after another. At this summit forum, many well-known industry heavyweights, including Mao Daqing, former Chairman of Vanke Beijing, Zhang Huarong, Chairman of Red Star Macalline Commercial, Gan Shenghong, Executive President of JunTing Hotels, and Wang Rongqing, former senior executive of Eslite Bookstore, shared their insights on the future transformation of commercial real estate.
Under immense market pressure, an increasing number of developers are shifting their focus to building commercial complexes. After nearly decades of development, China's cities now host over 3,000 complexes exceeding 50,000 square meters. How to integrate commercial spaces with other industries for diversified development and rational utilization is a challenge faced by many commercial complexes. In his keynote speech titled "The Path of Transformation and Development for Complexes and Mid-tier Hotels," Gan Shenghong, Executive President of JunTing Hotels, stated that the current market may be the worst, but it could also present the best opportunity for transformative change. In the next decade, China’s growing middle class will create vast opportunities. The integration of commercial complexes with mid-to-high-end hotels, and the merging of mid-to-high-end hotels with mobile internet, represent some of the most promising market potentials.
President Gan Shenghong delivering his speech
Gan Shenghong believes that under the new normal, the traditional island-like hotel positioning will be rewritten by new community and commercial ecosystem models. JunTing Hotels is exploring a model based on the mobile internet to build a platform for transactions, reservations, payments, and services — completing all pre-arrival services online, while offering customers an “enhanced bed” experience offline. That is, hotels should not merely provide a bed, but a bed plus a lifestyle offering and a new commercial hub. He cited examples from two community-commercial-ecology-oriented hotels — the Hangzhou Huihe JunTing Hotel and the Hefei Intime JunTing Hotel — as well as the Shanghai Songjiang Center JunTing Hotel, a luxury five-star property currently under renovation, to share JunTing’s transformational experiences in creating a business model that combines commercial complexes with mid-tier boutique hotels. The Hefei Intime JunTing Hotel, JunTing’s first pilot project integrating with a commercial entity in partnership with Intime Center Hefei, has delivered results beyond expectations. By fully leveraging the resources of Intime Center while complementing it, the hotel has carved out a unique position in the local market over the past two years, achieving both market success and positive reputation. Gan Shenghong expressed that, buoyed by this success, management is highly confident about the newly opened Huihe JunTing and the upcoming Songjiang Center JunTing.
The Hefei Intime JunTing Hotel and Intime Center complement each other for mutual growth
At this summit forum, experts, scholars, and entrepreneurs in the commercial real estate industry focused on the transformation of China’s commercial real estate market and the path of change under the “new normal.” They also explored how commercial real estate can leverage technology to drive change in the internet economy era, construct business models integrating online and offline through O2O, and find new growth points. Discussions also covered how legacy commercial projects can diversify and attract crowds through innovative experiences, and how, in the mobile internet era characterized by three-dimensional shopping spaces, fragmented shopping time, mobile shopping methods, and socialized information dissemination, commercial real estate can turn the tide and create a new landscape.
Gan Shenghong noted that precisely because of these multifaceted changes, the hotel industry is compelled to rethink what kind of products and services to offer. A hotel must be a social complex, not an isolated business entity. JunTing Hotels has been contemplating new business models and creating new commercial value.