存量积压与市场饱和已成为不可忽视的结构性因素。2025年，中国酒店市场供给端虽延续扩张，但已逐步进入以存量为主导的运行阶段。
Born in Egypt but raised in the United States, Michael attended Harvard University as an undergraduate and earned a law degree from Stanford. He began his career with a quick stint at Goldman Sachs as an associate in the communications, media, and entertainment investment banking group, before jumping into tech at Tellme Networks in 1999, a voice-recognition company that he helped run before it was acquired by Microsoft in 2007 for roughly $800 million.
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