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    Quhuo's Homestay Sector Hits New Highs During National Day with Multiple Initiatives to Enhance Guest Experience

    10/30/24 6:00:00 AM ET
    $QH
    Business Services
    Consumer Discretionary
    Get the next $QH alert in real time by email

    BEIJING, Oct. 30, 2024 /PRNewswire/ -- Quhuo Limited (NASDAQ:QH), a leading gig economy platform focusing on local life services in China, reported strong performance from its homestay division, Chengtu Home ("Chengtu"), during the National Day holiday. According to data released by Quhuo, GMV for the 7-day period was up 92% year-over-year, with average daily GMV up 123%. Peak occupancy reached 90% of available rooms.

    According to estimates from the Ministry of Culture and Tourism of China, approximately 765 million domestic trips were made during the National Day holiday in 2024, a 5.9% increase year-over-year. In response to this travel surge, Chengtu initiated an early business upgrade in September, focusing on enhancing guest experiences and leveraging innovative strategies to stand out from the competition.

    On September 1, 2024, Chengtu launched its own booking platform, offering 2,000 high-quality listings across 51 cities in China. Chengtu also offered six functional room types—Care, E-sports, Business Travel, Family, Cinema, and Elegant Retreat—designed to meet different consumer needs. The first batch of rooms was piloted successfully in Tianjin, marking Chengtu's shift from property management to value creation. These tailored options allow Chengtu to offer customized accommodation solutions for a variety of customers.

    Moreover, Chengtu stays focused on consumer needs, continually improving service quality and guest experience. Chengtu has identified key concerns for homestay users: accurate property listings, easy booking, fair pricing, and clean, safe accommodations. Chengtu has taken several steps to address these priorities.

    For property listings, Chengtu uses professional photographers for on-site shoots and provides detailed descriptions, including room themes, amenities, transportation, dining, and nearby attractions. This helps guests easily plan their trips with a clear understanding of the property before booking. For booking channels, Chengtu has simplified the process with its new platform. Guests can book through Chengtu's mini program or third-party platforms for a seamless experience. As for pricing, Chengtu ensures fairness, prohibiting price hikes or cancellations during holidays, and uses a dynamic pricing system to match market demand. It also runs promotions like "Trial Stay Days", offering quality accommodations at discounted rates.

    For hygiene and safety, Chengtu has built a comprehensive system. Smart locks and self-service check-ins protect guest privacy and security while simplifying the process by eliminating key handovers. Chengtu's cleaning team follows strict protocols, thoroughly cleaning each room after every guest and changing all linens between stays to ensure spotless conditions. Regular inspections and maintenance cover everything from utilities to amenities, ensuring every property meets high-end hotel standards, giving guests peace of mind.

    Chengtu values guest feedback to continuously improve its services. The customer service team promptly addresses issues and uses reviews to guide improvements. By optimizing services and driving product innovation, Chengtu has adapted to market changes, achieving steady growth compared to the Labor Day holiday earlier this year and the National Day holiday last year. This helped Chengtu strengthen its position in the competitive homestay market.

    Tong Ji, the General Manager of Chengtu, said: "Our National Day holiday performance highlights our continued efforts in improving services and innovating products. Our goal is not just to meet demand but to offer personalized, high-quality stays that bring unique value to our customers. Moving forward, Chengtu will keep enhancing the customer experience and expanding its product lines to boost satisfaction and strengthen our competitiveness."

    Leslie Yu, Founder, Chairman, and CEO of Quhuo, stated: "Chengtu's National Day performance showcases Quhuo's strategic focus and execution in the homestay market. With great service and ongoing product innovation, Chengtu will continue to deliver greater value for customers and partners."

    About Quhuo Limited

    Quhuo Limited (NASDAQ:QH) ("Quhuo" or the "Company") is a leading gig economy platform focusing on local life services in China. Leveraging Quhuo+, its proprietary technology infrastructure, Quhuo is dedicated to empowering and linking workers and local life service providers and providing end-to-end operation solutions for the life service market. The Company currently provides multiple industry-tailored operational solutions, primarily including on-demand delivery solutions, mobility service solutions, housekeeping and accommodation solutions, and other services, meeting the living needs of hundreds of millions of families in the communities.

    With the vision of promoting employment, stabilizing income and empowering entrepreneurship, Quhuo explores multiple scenarios to promote employment of workers, provides, among others, safety and security and vocational training to protect workers, and helps workers plan their career development paths to realize their self-worth.

    Safe Harbor Statements

    This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended and the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical or current fact included in this press release are forward-looking statements, including but not limited to statements regarding Quhuo's business development, financial outlook, beliefs and expectations. Forward-looking statements include statements containing words such as "expect," "anticipate," "believe," "project," "will"and similar expressions intended to identify forward-looking statements. These forward-looking statements are based on Quhuo's current expectations and involve risks and uncertainties. Quhuo's actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of these risks and uncertainties, which include, without limitation, risks and uncertainties related to Quhuo's abilities to (1) manage its growth and expand its operations, (2) address any or all of the risks and challenges in the future in light of its limited operating history and evolving business portfolios, (3) remain in its competitive position in the on-demand food delivery market or further diversify its solution offerings and customer portfolio, (4) maintain relationships with major customers and to find replacement customers on commercially desirable terms or in a timely manner or at all, (5) maintain relationships with existing industry customers or attract new customers, (6) attract, retain and manage workers on its platform, and (7) maintain its market shares in relation to competitors in existing markets and its success in expansion into new markets, as well as the development of the COVID-19 pandemic and its impact on Quhuo's business and industry. Other risks and uncertainties are included under the caption "Risk Factors" and elsewhere in the Company's filings with the Securities and Exchange Commission, including, without limitation, the final prospectus related to the IPO filed with the SEC on July 10, 2020 and the Company's latest annual report on Form 20-F. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. All forward-looking statements are qualified in their entirety by this cautionary statement, and Quhuo undertakes no obligation to revise or update any forward-looking statements to reflect events or circumstances after the date hereof.

    Cision View original content:https://www.prnewswire.com/news-releases/quhuos-homestay-sector-hits-new-highs-during-national-day-with-multiple-initiatives-to-enhance-guest-experience-302291131.html

    SOURCE Quhuo Limited

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    Q&A

    New
    • What performance highlights did Chengtu report during the National Day holiday?

      Quhuo Limited's homestay division, Chengtu, experienced a significant increase in gross merchandise value (GMV) during the National Day holiday, with a year-over-year increase of 92%. Average daily GMV also rose by 123%, and the peak occupancy rate reached 90%.

    • What initiatives has Chengtu implemented to enhance guest experience?

      To address concerns like accurate listings, easy booking, fair pricing, and hygiene, Chengtu implemented several initiatives, including using professional photographers for detailed property listings, offering a simplified booking process, ensuring fair pricing practices, and maintaining high hygiene standards through strict cleaning protocols.

    • What new features did Chengtu introduce with its recent booking platform?

      Chengtu launched its booking platform on September 1, 2024, featuring 2,000 high-quality listings across 51 cities in China and offering six customized room types aimed at different consumer needs, such as family and business travel.

    • How did domestic travel in China change during the National Day holiday in 2024 compared to the previous year?

      During the National Day holiday of 2024, approximately 765 million domestic trips were made across China, marking a 5.9% increase year-over-year according to the Ministry of Culture and Tourism.

    • What are the future goals expressed by Chengtu's management following their performance during the National Day holiday?

      General Manager Tong Ji emphasized that Chengtu aims to provide personalized, high-quality stays that offer unique value, while CEO Leslie Yu highlighted Quhuo's commitment to service and product innovation in the homestay market.

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