In 2020, 59,000 hotels in China will be closed. What are the main reasons for the closure of these hotels?

According to relevant data, in 2020, 59,000 hotels will be closed in China. Such data is not surprising to many people who have experienced this extraordinary year. After all, the COVID-19 epidemic has dealt a great blow to the hotel industry. Hotels and tourism are also one of the industries most affected by the COVID-19 epidemic. The failure to operate normally in the past year has caused a huge financial crisis to many hotels, so it is normal for so many hotels to close down.

The main reason for the closure of these hotels. The first is because of fierce competition in the industry. With the development of society and the increase of people's travel demand, the competition in the hotel industry is becoming more and more fierce. Under the fierce competition, many hotels will inevitably close down. Second, the impact of the COVID-19 epidemic. The COVID-19 epidemic has also had a great impact on hotels. During the COVID-19 epidemic, the hotel industry was one of the industries that suffered the most. In the past year, many hotels failed to persist and there was a wave of closure. Finally, the change of hotel industry pattern. With the development of society, people have higher and higher requirements for hotels when they travel, and the hotel industry is constantly changing and innovating, which also makes many hotel brands gradually obsolete in the market.

First, the industry is highly competitive. With the improvement of people's living standards, people's demand for travel has also increased greatly, but at the same time, the hotel industry is also expanding and the industry competition is becoming more and more fierce. In this way, many hotels gradually fall behind in the competition and become victims.

Second, the impact of the COVID-19 epidemic. In 2020, affected by the COVID-19 epidemic, China hotels suffered heavy losses. Tourism and hotel industry are the most seriously affected industries in COVID-19. Many hotels suffered very serious losses due to their failure to operate normally, which directly led to the closure of these hotels.

Third, the pattern of the hotel industry has changed. Nowadays, people's requirements for the hotel industry are getting higher and higher, and the hotel industry also needs constant innovation and development to survive in the market, while the operating conditions of some traditional hotels are getting worse and worse, which is also the basic law of survival of the fittest in the market.