ZIROOM Has Gained Over 1 Million Rooms and Is Not Considering IPO for the Moment
BEIJING, Nov. 8, 2019 /PRNewswire/ -- ZIROOM, China’s leading long-term rental enterprise, announces that now it has gained over 1 million rooms, further widening the gap with other competitors. Danke Apartment, the second in the industry that is seeking to go public, has about 410,000 rooms, and QK365.com, the third player, has about 100,000 rooms. ZIROOM is about twice the size of the two combined.
Since its establishment eight years ago, ZIROOM has provided residential products and living services for 3 million residents on behalf of nearly 450,000 proprietors in nine Chinese cities. Chinese media point out that the long-term operating capacity of long-term rental institutions is mainly reflected in two core indicators —— scale and occupancy rate. Data show that ZIROOM ranks first not only in scale but also in its high occupancy rate, which is now as high as 95%.
“Scale and occupancy rate are important indicators of operational management skills, but word of mouth is what we value more,” said Liu Qiushi, head of Quality Management Center of ZIROOM. At present, the Net Promoter Score (NPS), which reflects users’ satisfaction level, is as high as 60.55% (the NPS of house owners is 72.1%) for ZIROOM. According to Bain & Company, this figure of 60.55% is even higher than that of BMW, Apple and other famous companies.
NPS is a commonly used international brand reputation indicator. In a NPS survey, users are classified as “recommenders,” “passives” and “detractors.” The net recommendation is the percentage of recommenders minus that of detractors. It can directly reflect users’ loyalty to a brand.
These days, China’s long-term apartment rental industry is going through a time of turbulence. On the one hand, more companies in this industry are going bankrupt. On the other hand, QK365.com and Danke has submitted IPO applications successively to solve their problem of money shortage (Qk365.com has then been listed). “There is no rush for IPO,” said Xiong Lin, CEO of ZIROOM. “The long-term rental industry has moved from entrepreneurship to intensive cultivation, and it needs to focus more on user value and social value.”
Media Contact: Li Sen, +86 15510669060