Please Wait.....
Report
Hospitality Industry In China - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)
Market Report I 2023-01-23 I 150 Pages I Mordor Intelligence
The China hospitality industry is poised to grow at a CAGR of greater than 7% by 2027. China's hospitality market has grown significantly in recent years. With political and social stability, rapid economic growth, and a vast population base and natural resources, China has lured many multinational hotels, including the world's leading hotel chains, to its potentially huge market. The number of Chinese inbound visitors also has grown to affluent who are travelling more within the country, boosting the growth of the China Hotel Market. The China Hotel Market is expected to be USD 136 Billion (Yuan 938 Billion) by the end of 2023.
The global value chains have been interrupted because of the production losses in China. Also, China plays an important role in tourism. Chinese tourists spent $277 billion overseas in 2018, 21% of the global spending on tourism. Due to COVID-19, the tourism sector in China has been affected internationally.
The tourism and hotel market share growth in China by the outbound tourism segment will be significant during the forecast period. The market is driven by increasing preference for local and authentic experiences, the growing popularity of the 24-hour visa-free transit rule, and attraction toward ice sports and cruise tourism.
China Hospitality Market Trends
The Rising Demand for Hotels is Driving the Growth of the Market
With rising domestic tourism and corporate travel, as well as the relaxation of Covid-19 limitations, China's hotel sector is still far from saturated and poised for expansion. Despite the pandemic's failures, China's hotel business has enjoyed rapid expansion in recent years, with 3,711 new projects (8% rise year on year) and 704,101 extra rooms (7% increase year on year) in Q1 2022.
It's also worth mentioning that market concentration in the business remains rather strong, with Jinjiang Group, Huazhu Group Limited, and Guangdong (International) Hotel Management Holdings Limited among China's top domestic hotel management brands. Foreign organizations such as InterContinental Hotels Group (IHG) and Shangri-la Hotels and Resorts now dominate the high-end hotel market.
Growing Internet Access and Online Testimonials is Driving the Market
China's burgeoning economy has produced a large middle class looking for services that improve quality of life, which has spawned a growing trend toward more leisure and vacation travel in China. A recent A.T. Kearney consumer study of China's upper middle class-currently comprising 13 million households and projected to grow to 55 million in 10 years-shows that the mainly Chinese prefer self-planned travel over group travel packages. About 70 percent of travelers use online travel sites for information gathering, with 58 percent booking their accommodations on sites such as Qunar.com or Lvmama.com. With China's 500 million-plus Internet users and an ever-increasing demand for individual self-planned tours, online travel sites are important distribution channels for any hotel operator.
The transaction volume of the Chinese online travel booking market amounted to approximately 1.8 trillion yuan, with an annual growth rate of 21.6 percent. The importance of transactions dropped in 2020, the first year of the COVID-19 pandemic, to 987.5 billion yuan but was estimated to grow in 2021 and 2022.
China Hospitality Market Competitor Analysis
The rising younger generation is reshaping the hospitality industry in China. This influential generation is driving the domestic travel market, which accounts for a great share of the hospitality industry. In order to cope with the preferences of the millennial population, the key players in the hospitality industry are opting for technological upgrading of their properties throughout the country. InterContinental Hotels Group has teamed up with Baidu and is introducing artificial intelligence-supported smart rooms in China. Likewise, Marriott International also teamed up with China's Alibaba Group Holding to launch facial recognition technology for check-ins. Major players such as Beijing Zhiyuan International Travel Agency Co. Ltd., Emei Shan Tourism Co. Ltd., Expedia Group Inc., Guangdong International Hotel Management Holdings Ltd., Huangshan Tourism Development Co. Ltd., Huazhu Group Ltd., and others have a significant presence in the hospitality industry in China.
Additional Benefits:
The market estimate (ME) sheet in Excel format
3 months of analyst support
1 INTRODUCTION
1.1 Study Deliverables
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS AND INSIGHTS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Market Opportunities
4.5 Insights on the Impact of Technology on the Market
4.6 Industry Attractiveness - Porter Five Forces
4.6.1 Threat of New Entrants
4.6.2 Bargaining Power of Buyers
4.6.3 Bargaining Power of Suppliers
4.6.4 Threat of Substitutes
4.6.5 Intensity of Competitive Rivalry
4.7 Impact of COVID-19 on the Hospitality Industry
5 MARKET SEGMENTATION
5.1 By Type
5.1.1 Chain Hotels
5.1.2 Independent Hotels
5.2 By Segment
5.2.1 Service Apartments
5.2.2 Budget and Economy Hotels
5.2.3 Mid and Upper Mid-scale Hotels
5.2.4 Luxury Hotels
6 COMPETITIVE LANDSCAPE
6.1 Market Concentration Overview
6.2 Company Profiles
6.2.1 Beijing Zhiyuan International Travel Agency Co. Ltd.
6.2.2 Emei Shan Tourism Co. Ltd.
6.2.3 Expedia Group Inc.
6.2.4 Guangdong International Hotel Management Holdings Ltd.
6.2.5 Huangshan Tourism Development Co. Ltd.
6.2.6 Huazhu Group Ltd.
6.2.7 InterContinental Hotels Group PLC
6.2.8 Intrepid Group Pty Ltd.
6.2.9 Jin Jiang International Holdings Co. Ltd.
6.2.10 Jinmao China Hotel Investments and Management Ltd.
6.2.11 Marriott International Inc.
6.2.12 Shangri La Asia Ltd
6.2.13 The Dragon Trip.
6.2.14 Tongcheng Travel Holdings Ltd.*
7 MARKET OPPORTUNTIES AND FUTURE TRENDS
8 DISCLAIMER AND ABOUT US
- Not Sure / Need Reassuring
- Confirm Content
-
Content is provided by our partners and every effort is made to make Market Report details as clear as possible. If you are not sure the exact content you require is included in this study you can Contact us to double check. To do this you can:
Use the ‘? ASK A QUESTION’ below the license / prices and to the right of this box. This will come directly to our team who will work on dealing with your request as soon as possible.
Write to directly on support@scotts-international.com with details. Please include as much information as possible including the name of report or link so our staff will be able to work on you request.
Telephone us directly on 0048 603 394 346 and an experienced member of team will be on hand to answer.
-
- Sample Pages
-
With the vast majority of our partners we can obtain Sample Pages to support your decision. This is something we can arrange without revealing your personal details.
It is important to note that we will not be able to provide you the exact data or statistics such as Market Size and Forecasts. Sample pages usually confirm the layout or the Categories included in Charts and Graphs, excluding specific data.
To ask for Sample Pages by contact us through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Check for Alternatives
-
Whilst we try to make our online platform as easy to use as possible there is always the possibility that a better alternative has not been found in your search.
To avoid this possibility Contact us through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346 and a Senior Team Member can review your requirements and send a list of possibilities with opinions and recommendations.
-
- Confirm Content
- Prices / Formats / Delivery
- Prices
-
All prices are set by our partners and should be exactly the same as those listed on their own websites. We work on a Revenue share basis ensuring that you never pay more than what is offered elsewhere.
Should you find the price cheaper on another platform we recommend you to Contact us as we should be able to match this price. You can Contact us though through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Discounts
-
As we work in close partnership with our Partners from time to time we can secure discounts and assist with negotiations, this is part of our personalised service to you.
Discounts can sometimes be arranged for speedily placed orders; multiple report purchases or Higher License purchases.
To check if a Discount is possible please Contact our experienced team through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Available Currencies
-
Most Market Reports on our platform are listed in USD or EURO based on the wishes of our Partners. To avoid currency fluctuations and potential price differentiations we do not offer the possibility to change the currency online.
Should you wish to pay in a different currency to that advertised online we do accept payments in USD, EURO, GBP and PLN. The price will be calculated based on the relevant exchange rate taken from our National Bank.
To pay in a different above currency to that advertised online please Contact our team and a quotation will be sent within a couple of hours with payment details.
-
- Licenses
-
License options vary from Partner to Partner as is usually based on the number of Users that will benefitting from the report. It is very important that License ordered is not breached as this could have potential negative consequences for you individually or your employer.
If you have questions or need confirmation about the specific license we recommend you to Contact us and a detailed explanation will be provided.
-
- Global Site License
-
The Global Site License is the most comprehensive license available. By selecting this license, the Market Report can be shared with other ‘Allowed Users’ and any other member of staff from the same organisation regardless of geographic location.
It is important to note that this may exclude Parent Companies or Subsidiaries.
If you have questions or need confirmation about the specific license we recommend you to Contact us and a detailed explanation will be provided.
-
- Formats
-
The most common format is PDF, however in certain circumstances data may be present in Excel format or Online, especially in the case of Database or Directories. In addition, for certain higher license options a CD may also be provided.
If you have questions or need clarification about the specific formats we recommend you to Contact us and a detailed explanation will be provided.
-
- Delivery
-
Delivery is fulfilled by our partners directly. Once an order has been placed we inform the partner by sharing the delivery email details given in the order process.
Delivery is usually made within 24 hours of an order being placed, however it may take longer should your order be placed prior to the weekend or if otherwise specified on the Market Report details page. Additionally, if details have been not fully completed in the Order process a delay in delivery is possible.
If a delay in delivery is expected you will be informed about it immediately.
-
- Shipping Charges
-
As most Market Reports are delivered in PDF format we almost never have to add additional Shipping Charges. If, however you are ordering a Higher License service or a specific delivery format (e.g. CD version) charges may apply.
If you are concerned about additional Shipping Charges we recommend you to Contact us to double check.
-
- Prices
- Ordering
- By Credit Card
-
We work in Partnership with PayU to ensure payments are made securely in a fast and effortless way. PayU is the e-payments division of Naspers.
Naspers operates in over 133 International Markets and ranks 3rd Globally in terms of the number of e-commerce customers served.
For more information on PayU please visit: https://www.payu.pl/en/about-us
-
- By Money Transfer
-
If you require an invoice prior to payment, this is possible. To ensure a speedy delivery of the Market Report we require all relevant company details and you agree to maximum payment terms of 30 days from receipt of order.
With our regular clients deliver of the Market Report can be made prior to receiving payment, however in some circumstances we may ask for payment to be received before arranging for the Market Report to be delivered.
-
- By Credit Card
- Security
- Website security
-
We have specifically partnered with leading International companies to protect your privacy by using different technologies and processes to ensure security.
Everything submitted to Scotts International is encrypted via SSL (Secure Socket Layer) and all personal information provided to Scotts International is stored on computer systems with limited access in controlled environments.
-
- Credit Card Security
-
We partner with PayU (https://www.payu.pl/en/about-us) to ensure all credit card payments are made securely in a fast and effortless way.
PayU offers 250+ various payment channels and eWallet services across 4 continents allowing buyers to pay electronically, whether on a computer or a mobile device.
-
- Website security