Meituan Sets New Industry Record with Over 2 Million Domestic Hotel Room Nights Booked on a Single Day

BEIJING, Jan. 7, 2019 /PRNewswire/ -- Meituan Dianping (HKG: 3690) (the "Company"), China's leading e-commerce platform for services, announced that it has set a new industry record with over 2 million domestic hotel room nights booked on December 31, 2018. The new record marked a 30% increase over the previous peak of 1.57 million hotel room nights booked on a single day in 2017.

The new record demonstrated the continuous fast growth in Meituan's hotel booking business, which has benefitted from the Company's "Food+Platform" strategy.

With "eating" as its core business, Meituan has grown into a super e-commerce platform for services. It has attracted and retained its customers through the core business, and then expanded into other service categories to cover consumers' lifetime needs. In 2017, over 80% of its new hotel-booking Transacting Users were converted from Transacting Users of its core categories of food delivery and in-store dining.

In the first three quarters of 2018, about 209.6 million domestic hotel room nights were booked on Meituan's platform, an increase of 43.8% year-on-year. The bookings also surpassed the total number for the whole year of 2017.

Unlike traditional online travel agencies (OTA), Meituan offers hotel accommodations as one of its services that are closely connected with people's consumption in daily life. Meituan provides a wide range of accommodation selections for consumers, no matter whether they are travelling locally, making short trips around cities, or long journeys.

Against the backdrop of China's rising consumption, companies can only become industry leaders if they are focusing on consumers instead of competition, said Guo Qing, vice president of Meituan and general manager of its Hotel and Domestic Travel Business.

With the rise of the young generation, the demand for hotel accommodations is shifting from business travelers to leisure travelers who are used to diverse options in hotels. According to Meituan data, 32% of leisure travelers enjoyed hotel cuisines and 17% had entertainment activities in hotels.

About Meituan

Meituan Dianping (HKG: 3690) (the "Company") is China's leading e-commerce platform for services. With the mission of "We help people eat better, live better," the Company's platform uses technology to connect consumers and merchants. Service offerings on the platform address people's daily needs for food, and extend further to broad lifestyle and travel services. According to the iResearch Report, Meituan is the world's largest on-demand food delivery service provider and China's largest e-commerce platform for in-store dining services in 2017. It currently operates the world's largest on-demand delivery network in terms of the number of deliveries in 2017. Meituan helps consumers discover merchant information, make informed decisions, complete online and offline transactions and enjoy on-demand delivery. The Company currently owns several household brands in China, including Meituan, China's leading online marketplace for services by GTV in 2017, Dianping, China' s leading online destination for discovering lifestyle services by MAU in 2017, Meituan Waimai for on-demand delivery services, and Mobike for bike-sharing services. Meituan had 382.3 million Annual Transacting Users and 5.5 million Annual Active Merchants by the end of third quarter 2018. The Company operates in over 2,800 cities and counties in China.

For media inquiries, please contact:

David Liu
Meituan
Email: [email protected]

Edmond Lococo
ICR Inc.
Email: [email protected]
Tel: +86 (10) 6583 7510

SOURCE Meituan Dianping

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