China is big and getting bigger – this statement is very likely true for almost all industries but definitively it is true for tourism and hotel industry. Here are just a few facts to consider:
The expected number of outbound trips is 180 millions for 2019 (COTRI).
At the end of the first half of 2019, Chinas total hotel construction pipeline swelled to 2.991 projects with 592.884 rooms (Lodging Econometrics).
Domestic visitor arrivals are expected to grow 8.8 % to reach 3.08 billion in the first half of 2019 (China Tourism Academy).
The number of hotel rooms in China is expected to reach 6.1 million by 2025, then equaling the expected US number by that time (National Bureau of Statistics).
In the years 2007 – 2018 approximately 1.000 high-end chain hotels comprising nearly 330.000 rooms opened in major Chinese markets. This amount is equal to 317.6 % of the existing supply of high-end hotel rooms prior to 2007 (STR).
Five out of the 14 biggest hotel chains are now Chinese (Hotelsmag).
There will be growing demand in every hotel category for years to come – and we also expect new standards, processes, concepts as a result of this dynamic in a society where mobile and technology are so popular.