在这一基础上，2026年华住还将加速轻资产模式发展，进一步提高管理加盟及特许经营业务（M&F）的收入占比，降低对自有资产的依赖，从而提升经营杠杆效率与抗周期能力。
When I was talking about the power of smell on the radio, Speth, a Welsh speaker from Manchester, got in touch to say that in Welsh you can hear a smell as well as smell it. At first this sounded charming, if far-fetched. But the more I thought about it, the more sense it made. While I can’t – in English, anyway – exactly hear the smell of that Black Country bike shop in 1977, I can smell, hear and see it very clearly. I can feel it too. I can feel the shop man’s grip as he lifts me into the saddle. And I can hear him saying to my grandad: “Blimey, he’s a lump, isn’t he?” Ever sensitive about my weight, that was a sour note. But I’ll let it pass, because all I can feel, then and now, is the general joy.
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