China Hotel Market will be worth round US$ 166.02 Billion by 2028, Size, Share, Growth | Renub Research

Renub Research has recently published a report named "China Hotel Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2023-2028," providing a detailed industry analysis that consists of market share insights. Furthermore, the report encompasses a study of competitors and regions and the recent growth in the China Hotel Market.

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China Hotel Market is projected to revel in a CAGR of 8.86% from 2022 to 2028. In the early years, hotel in China generally served authorities officials, diplomats, and foreign visitors, with confined options and basic facilities for home vacationers. However, with the opening up of China's economic system, overseas investment and tourism caused the status quo of global hotel chains and upscale hotels. Economic reforms and expanded journey transformed the hotel enterprise, with the government investing in infrastructure and improving requirements.

The developing demand for hotels from enterprise tourists, domestic travelers, and international site visitors drove the growth of hotel chains and the development of offerings. Today, China's hotel industry is aggressive and numerous, supplying a wide range of accommodations. The leading traveller vacation spot, and accommodations in China preserve outstanding position in the international hospitality industry, supported with the aid of monetary growth and authorities help for tourism.

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China's urbanization and infrastructure development have boosted tour accessibility and benefited the hotel enterprise. Outbound tourism from China has extended, leading to an upward thrust in inbound tourism and driving inn market increase. China's cultural history and points of interest have attracted home and worldwide vacationers, spurring the need for hotels in popular locations. Favourable regulations and incentives for motel development have contributed to the company popularity. Hotels in China have improved their satisfactory and offerings to fulfil worldwide requirements, improving their appeal to vacationers.

China's expanding economy and global market position will enhance demand for hotel accommodations with conference centers and business services, even as technological improvements and digital innovation in the lodge enterprise will decorate customer reports. Moreover, the growing international awareness on sustainability and green practices will pressure the adoption of such projects hotel market in China, attracting environmentally aware travelers and stimulating market growth.

Mid-end hotels dominate the China hotel market by offering comfortable and affordable accommodations to a diverse customer base.
With the rapid growth of China's middle class, there is a rising demand for mid-end hotels that offer satisfactory amenities and services at reasonable rates. The expansion of domestic tourism in China has further fueled the dominance of mid-end hotels, as Chinese residents with increased disposable incomes aspire to explore their own country. These hotels also benefit from their wider presence and distribution network, making them easily accessible in popular tourist destinations, business districts, and transportation hubs. The competitive pricing strategy of mid-end hotels is another contributing factor to their dominance, as it enables them to attract a larger customer base, leading to higher occupancy rates and a larger market share.

Hotel Type - China Hotel Market breakup from 3 Viewpoints:

1. High-end hotel
2. Mid-end hotel
3. Budget hotel

Hotel chains continue to have highest share in the China hotel market.

Hotel chains dominate the China hotel market due to their established brand recognition, trusted reputation, extensive network spanning multiple locations, standardized operating procedures ensuring consistent service, and quality control measures. This leads to enhanced customer satisfaction, loyalty, and a larger customer base. The economies of scale enjoyed by hotel chains enable them to negotiate advantageous deals, achieve cost efficiencies, offer competitive pricing, and provide superior amenities. Loyalty programs further foster customer loyalty, while the financial resources and expertise of hotel chains allow for strategic investments in marketing, property expansions, and renovations, ensuring they stay ahead of market trends and maintain a strong competitive edge.

Business Model - China Hotel Market breakup from 2 Viewpoints:

1. hotel chains
2. independent hotels

Online booking aggregators leads the China hotel market.

Online booking aggregators offer a convenient platform for travelers to compare prices, read reviews, and make reservations from a wide range of hotels, attracting a large customer base. By leveraging their networks and partnerships, aggregators provide competitive pricing and exclusive deals, ensuring value for money. Personalized recommendations based on user preferences enhance the user experience, while additional services such as flight bookings and bundled packages appeal to convenience-seeking customers. Extensive marketing efforts raise brand awareness, and the increasing adoption of mobile devices and internet penetration in China creates a favorable environment for aggregators to thrive.
Ordering - China Hotel Market breakup from 4 Viewpoints:

1. Direct Book from Hotel Website
2. Online Booking Aggregators
3. Offline Booking
4. Others

The dominance of the 1990-1995 age group in the China hotel market is due to their higher incomes, and travel interests.

As part of the post-80s and post-90s generation, this age group has a strong desire for travel experiences and exploration. Their travel behavior is heavily influenced by social media and online platforms, making digital marketing strategies crucial for attracting this tech-savvy demographic. Their openness to diverse cultures and authentic experiences creates a demand for hotels offering unique dining, cultural immersion, and personalized services. Growing up during China's rapid economic development, they have higher expectations for quality and comfort, making them willing to spend on accommodations that meet their standards, ultimately leading to their dominance in the market.

Customer age group - China Hotel Market breakup from 7 Viewpoints:

1. Before 1970
2. 1970-1980
3. 1980-1985
4. 1985-1990
5. 1990-1995
6. 1995-2000
7. After 2000

Municipalities and provincial capitals are set for substantial growth in the China hotel market.
Municipalities and provincial capitals appeal to business travelers, government officials, and corporate events generates sustained demand for accommodation. The presence of cultural heritage, tourist attractions, and landmarks attracts domestic and international tourists, further driving hotel market growth. Improved infrastructure and connectivity enhance accessibility, fueling the demand for hotels. The diverse range of amenities, services, and entertainment options cater to a wider customer base. Government support, urban development investments, and tourism promotion initiatives stimulate the hotel market. The concentration of major industries and commercial activities sustains the demand for accommodation, positioning these cities for continued growth in the China hotel market.

Tiers - China Hotel Market breakup from 3 Viewpoints:
1. First-tier cities
2. Municipalities and Provincial cities
3. other cities

3-star hotels have hegemony in the China hotel market.

3-star hotels offer comfortable rooms, essential facilities, and reasonable rates, making them popular among budget-conscious travelers. Their strategic locations in prime areas contribute to their accessibility and increasing market share. The continuous improvement in quality and services provided by 3-star hotels, along with government initiatives to promote tourism and improve infrastructure, have further fueled their growth. This has led to enhanced customer satisfaction, increased bookings, and repeat business, establishing 3-star hotels as a significant player in the market.

Star rating - China Hotel Market breakup from 5 Viewpoints:

1. 1-star
2. 2-star
3. 3-star
4. 4-star
5. 5-star

Shanghai's economic and financial prosperity strengthens its position in the China hotel market.
Shanghai is the popular city in the China hotel market due to its status as an economic and financial hub, attracting business travelers and corporate events. It is also a popular tourist destination with iconic landmarks, supported by well-developed transportation infrastructure. The city's vibrant business environment, high standard of living, and government support for tourism contribute to its dominance. Furthermore, Shanghai's proactive use of technology and digital innovation enhances its competitive edge in the hotel market.

Cities - China Hotel Market breakup from 7 Viewpoints:

1. Beijing
2. Shanghai
3. Guangzhou
4. Shenzhen
5. Hong Kong
6. Macau
7. Others

Competitive Landscape.

The key players in the China hotel market include Huazhu Hotels Group Ltd, Zhejiang New Century Hotel Management Co. Limited, Emei Shan Tourism Co.,Ltd, Expedia Group Inc, Guangdong International Hotel Management Holdings Ltd., Huangshan Tourism Development Co. Ltd, InterContinental Hotels Group PLC, Shanghai Jin Jiang International Hotels (Group) Company, Marriott International Inc, and Tongcheng Travel Holdings Ltd.

Company has been covered from 3 Viewpoints:

• Overview
• Recent Developments
• Revenue

Company Analysis:

1. Huazhu Hotels Group Ltd,
2. Zhejiang New Century Hotel Management Co. Limited,
3. Emei Shan Tourism Co.,Ltd,
4. Expedia Group Inc,
5. Guangdong International Hotel Management Holdings Ltd.,
6. Huangshan Tourism Development Co. Ltd,
7. InterContinental Hotels Group PLC,
8. Shanghai Jin Jiang International Hotels (Group) Company,
9. Marriott International Inc,
10. Tongcheng Travel Holdings Ltd,

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