EPISODE · Mar 26, 2026 · 11 MIN
亚朵无法复制：住宿 + 零售的新玩法
from AI解研说
酒店行业进入存量竞争、全员内卷的时代，大多数品牌靠降价、拼效率求生，亚朵却走出一条完全不同的路。2025 年营收近 98 亿、增速 35%，利润大涨 27%，远超同行；一边开 2000 家酒店稳住中高端，一边靠枕头、床品做出 37 亿零售收入，占比近四成。它用图书、会员福利、生活方式做体验，用零售反哺酒店复购，形成独一份的生态闭环。但高速增长背后也藏着隐忧：中端品牌轻居承压、零售爆款依赖度高、规模扩张下体验一致性待考。本期播客，我们拆解亚朵的财报与模式，聊聊这家 “不只是酒店” 的公司，它的路到底能不能复制，又能走多远。
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亚朵无法复制：住宿 + 零售的新玩法
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