On November 21st, the 12th International Hotel Equipment and Supplies Procurement Exhibition grandly opened at the Shanghai National Convention Center. Building on past successes, this event established a comprehensive trading platform covering hotel equipment, investment franchising, design engineering, and smart hotels. Based in Shanghai and radiating across the national market, its professionalism, foresight, and high quality attracted nearly ten thousand professional buyers, including global purchasers, hotel owners, and developers.
Under the backdrop of Internet+, continuous innovation emerges in the hotel industry. Novel operational models such as film-themed hotels, VR hotels, e-sports hotels, and smart hotels have become focal points. The industry is adopting new development strategies to achieve structural transformation, format innovation, and model breakthroughs, evolving into a large platform integrating social, entertainment, experiential, and leisure functions. To promote cross-industry collaboration in the hotel sector, Mr. Shi Yebin, Founder and CEO of Kaqu, hosted a roundtable discussion titled ‘Unveiling Hotel Crossovers and Industrial Cooperation’ on the afternoon of the 21st. Mr. Sun Feng, Vice President of iQIYI Smart Technology, was invited to share experiences on iQIYI’s collaboration with major star-rated hotels nationwide to launch VR cinema rooms. From the perspective of young people’s demands, he provided a comprehensive analysis of the innovative VR+hotel model. Unlike other seasoned guests from the hotel industry, Mr. Sun Feng brings an internet perspective as Vice President of iQIYI Smart. From a crossover standpoint, he detailed why ‘hotel crossovers are imperative.’ He believes that technological advancements, from the internet to artificial intelligence, have transformed our daily lives, including lodging. Hotels, as a critical component of ‘stay,’ must adapt to these changes. Effective and rapid adaptation requires cross-industry partnerships with capable enterprises. Moreover, with societal progress, the demographic of hotel consumers has shifted. Hotels are no longer solely for business travel by those born in the 60s and 70s; the 80s and 90s generations have become the main force in hotel consumption. These groups are less price-sensitive but highly value atmosphere, technology, and leisure innovations within hotels. In the new era, hotels serve as a second residence that can alter lifestyles. The key to successful hotel crossovers lies in selecting partners that can achieve mutual benefits. Mr. Sun Feng considers iQIYI an excellent enterprise for such collaborations. Firstly, traffic flow is crucial for innovative hotels to break through traditional models, and iQIYI’s greatest strength lies in this area.With 600 million monthly active users, iQIYI’s big data capabilities enable hotels to move beyond price promotions and leverage user interest tags for precise targeting. This allows users to gain faster and more accurate insights into hotels through iQIYI.
Additionally, iQIYI boasts a rich portfolio of IP content, with its original variety shows particularly appealing to younger audiences. Partner hotels can utilize these resources for promotional campaigns, resonating with entertainment-focused fans who may organically share their experiences within their communities. Currently, iQIYI Smart has secured contracts with 5 service providers, with 6 more in negotiation, collectively covering 100,000 hotel rooms. A strategic partnership with Shanghai Powerlong has been established, integrating iQIYI VR cinema rooms across 17 of its hotels. Data shows near 100% occupancy rates for iQIYI VR cinema rooms at properties like Shanghai Baolong Le Méridien and Radisson Blu. In 2019, iQIYI Smart plans to aggressively expand its hotel business, targeting 100,000 iQIYI VR cinema room installations. By combining hotel resources, internet traffic, IP content, big data, and advanced VR technology, the initiative aims to deliver unprecedented guest experiences while introducing innovative operational models for hotels. iQIYI’s collaborative VR cinema rooms have received overwhelming positive feedback, with features like 4K Fast LCD screens, tens of thousands of HD films, and 2000-inch virtual screens widely praised. These rooms are in high demand across major hotels and have become a top choice for younger consumers. As emphasized in promotional materials, the partnership between iQIYI VR and hotels not only differentiates operations through branding and content but also enhances competitiveness, increases occupancy, and generates premium pricing. Content payments during VR usage further boost hotel revenue. In the internet era, technology continues to reshape lifestyles. Hotels, as products with deep user engagement, can transcend traditional lodging functions by integrating technology to enrich guest experiences and transform business strategies. iQIYI stands out among cross-industry innovators, and its collaboration with the hotel sector promises to ignite further advancements and surprises in the tech market.
