Industry Analysis & Industry Trends
In the five years through 2014, the Hotel industry in China has been growing 9.3% on average to an estimated $47.7 billion. However, growth has been slowing over the period. A particularly bright year for the industry was 2010, due to the Shanghai Expo and the Guangzhou Asian Games, which resulted in a surge in foreign tourists entering the county. In 2012 and 2013, the number of international tourists declined by 2.7% and 1.8%, respectively, curbing industry revenue growth.
Foreign enterprises, which have a significant impact on the industry's development, have introduced brand and chain management concepts and high service standards to China. They have strong and dominant positions in the high-end market, but have recently started moving into the lower-star rated segments.... purchase to read more
Industry Report - Industry Analysis Chapter
The Hotel industry in China has developed rapidly over the five years through 2014, driven by greater numbers of domestic and international tourists, and increasing living standards and per capita spending for tourism. Higher room prices, greater demand for services and quality, and industry deregulation have also helped revenue growth. The 2008 Beijing Olympics and the 2010 Shanghai World Expo boosted the industry's development by spurring significant investment in fixed assets and network expansion. ACMR-IBISWorld estimates that in the five years through 2014, industry revenue has been rising at an annualized rate of 9.3% to $47.7 billion... purchase to read more