Quhuo Announces Joint Partnerships with Shougang Real Estate and Hakone Group to Boost Operations of the Beijing-Tianjin-New-City Development
Quhuo Limited (NASDAQ: QH) announced partnerships with Shougang Real Estate and Hakone Group to enhance operations at the Beijing-Tianjin-New-City development, a luxury project near Beijing. The partnerships, launched on July 10, 2021, come as China's domestic tourism market recovers, creating demand for room rentals despite a short supply. Quhuo will leverage its innovative service models to support homestay owners and optimize their rental operations, potentially lowering investment risks while improving profitability for stakeholders.
- Strategic partnerships with Shougang and Hakone enhance operational capacity.
- Leverage of Quhuo's platform to offer comprehensive services in a recovering domestic tourism market.
- Innovative service models can reduce risks for homestay owners while ensuring profitability.
- The room rental market's supply remains below pre-pandemic levels, posing a challenge for growth.
BEIJING, July 29, 2021 /PRNewswire/ -- Quhuo Limited (NASDAQ: QH) ("Quhuo" or the "Company"), a leading gig economy platform from China, today announced its recent partnerships with Shougang Real Estate ("Shougang") and Hakone Group ("Hakone") to jointly boost operations in the Beijing-Tianjin-New-City development project ("Beijing-Tianjin-New-City"), a luxury resort town about 90 kilometers from Beijing.
Chengtu, one of China's biggest homestay operators and a sub-division of Quhuo, officially launched the joint partnerships with Tianjin Subsidiary of Shougang and Hakone on July 10, 2021. Mr. Chen Xiaodong, vice president of Chengtu, commented at the launch event, "We are very proud that Quhuo's homestay solutions will empower the service models of the Beijing-Tianjin-New-City project, which comprises of thousands of villas, hotels and restaurants. We will continue to co-operate with our two partners to offer the most suitable service models moving forward."
The timely partnership opens more opportunities as China's domestic tourism market continues to gather momentum and recover at a fast pace. The increasing demand for domestic travel has brought huge opportunities to the nation's room rental market. Many planning travels abroad are expected to change their preference for domestic destinations due to the difficulties of international travel amid the ongoing COVID-19 pandemic.
Despite rising demand, the domestic tourism market has not been increasing its supply side accordingly to meet this new demand. The current number of available room listings in the industry remains below the pre-pandemic levels, making it an opportune time for new hosts to tap into the room rental market.
In an effort to ride the wave of the recovering domestic tourism, some internet giants are competing for a slice of the market. Against this backdrop, Quhuo has developed its own unique service models to meet the demand from hotels and homestays. In addition to operating Quhuo's own room listings, the Company continues to work closely with homestay owners to offer comprehensive one-stop solutions, which include integrated services like room preparation and cleaning, listing management, online customer services and offline receptions.
Quhuo offers an additional service model that allows flexible management of room listings on behalf of homestay owners. This service operates their rental businesses, and can potentially reduce investment risks associated with the operation of homestay businesses while ensuring profitability. This model was designed to facilitate additional income for homestay owners, and for estate owners with unused rooms and idle properties to earn additional income.
The new joint partnerships will also be able to benefit from Quhuo's well-developed platform to offer more on-demand services. With the Company's advanced gig economy platform and data-driven flexible employment management system, Quhuo is able to manage basic facilities and workforce resources, which can further reduce operation costs and boost efficiency.
Homestay operations, one of the key areas that Quhuo will focus on with its partners at Beijing-Tianjin-New-City, could also adopt Quhuo's flexible employment management system to fit their increasing needs for various hospitality and homestay services.
"Working closely with our partners, we believe that our comprehensive solutions and products will significantly contribute to the development of the Beijing-Tianjin-New-City project, and provide a competitive edge to the service providers," said Mr. Chen Xiaodong, vice president of Chengtu.
About Shougang Real Estate
Established in 1998 and headquartered in Beijing, Shougang Real Estate is a real estate investment and development group integrating real estate investment, development, and asset operation. The company has 23 subsidiaries and total assets under management of RMB 50 billion (US
About Quhuo Limited
Quhuo Limited (NASDAQ: QH) ("Quhuo" or the "Company") was the largest workforce operational solution platform in China in 2019. Quhuo provides tech-enabled, end-to-end operational solutions to blue-chip on-demand consumer service businesses in industries with significant e-commerce exposure, including on-demand food delivery, ride-hailing, housekeeping and bike-sharing. Quhuo's platform helps its industry customers mobilize a large team of workers and utilizes a combination of training, performance monitoring and refinement, and incentives to transform them into skilled workers who can follow industry-specific, standardized and highly efficient service procedures. Within the on-demand consumer service ecosystem, the Company plays a unique and indispensable role as the link between consumer service businesses and end consumers to enable the delivery of goods, services and experiences to consumers.
Media Contact
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barry@meishisong.cn
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SOURCE Quhuo Limited
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