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The Tourism & Hotel Industry in China - Growth, Trends and Forecasts (2018-2023) - ResearchAndMarkets.com

September 27, 2018

DUBLIN--(BUSINESS WIRE)--Sep 27, 2018--The “The Tourism & Hotel Industry in China - Growth, Trends and Forecasts (2018-2023)” report has been added to ResearchAndMarkets.com’s offering.

The total contribution of the Travel and Tourism sector in China to the nation’s GDP stood at 11% in 2017, which is more than that of the world which stands at 10.4% in 2017.

The tourism industry in China is growing steadily, both domestically and internationally owing to the many driving factors, such as the growing population in the middle-class segment and rising disposable income of people, the initiatives and support from the government to promote the tourism sector, growing investments, good transport infrastructure, etc.

The strong growth in the domestic and inbound tourism leads to the growth in the hotel industry in China. Any adverse changes in political and economic consequences may hinder the growth of the market.

The strong growth in the middle-class population is one of the significant factors that drives the Tourism and Hotel Industry in China. The increasing middle-class population and the change in the consumer behavior are leading to a rise in the leisure spending, thereby resulting in the growth of the tourism and hotel industry.

With the tourism in China booming, the hotel industry is also growing at a steady pace and witnessing growth in the occupancy rates. The growing investments and the mergers and acquisitions are expected to augment the growth of the hotel industry in China further.

The establishment of boutique hotels that offer a unique experience and focusing on lifestyle is gaining momentum in the recent times. Also, the wellness tourism is gaining attention in China. The revenue per available room increased by 5.6% in 2017, when compared to that of 2016. The Chinese hotel industry has a huge pipeline for the hotel projects with ~2,500 projects.

The hoteliers are adopting new strategies and concepts to gain a strong position in the market. Moreover, the hotels in the high-end segment are moving to the development of three and four star hotels in order to strengthen their market position.

Key Market Developments

The opening of a new route between Chengdu in China and Copenhagen, the capital city of Denmark was announced. Anantara Hotels and Resorts announced the launch of first luxury global hotel brand in the Qingyang District of Chengdu.

Major Players

Ctrip Tunia Corporation elong Qunar LY.COM Alitrip Emei Shan Tourism Huangshan Tourism Development Shanghai Jin Jiang International Hotels Development Huazhu Hotels Group Ltd. Hna-caissa Travel Group China Tourism & Hotel Industry Report Summary Metrics

Topics Covered

1. Introduction

2. Research Methodology

3. Insights

4. Dynamics - (Drivers, Restraints, Opportunities)

5. Segmentation and Analysis (Market Size, Growth and Forecast)

6. Regional Analysis (Market Size, Growth and Forecast)

7. Competitive Landscape

8. Companies Profiled

Ctrip Tunia Corporation elong Qunar LY.com Alitrip Emei Shan Tourism Huangshan Tourism Development Shanghai Jin Jiang International Hotels Development Huazhu Hotels Group Ltd. Hna-caissa Travel Group Jin Jiang International Homeinns Hotel Group Marriott International Starwood Hotels and Resorts Worldwide Accor Hotels Intercontinental Hotels Group Booking.com

For more information about this report visit https://www.researchandmarkets.com/research/83drkg/the_tourism_and?w=4

View source version on businesswire.com:https://www.businesswire.com/news/home/20180927005827/en/

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Related Topics:Hotels and Travel Accomodation

KEYWORD: ASIA PACIFIC CHINA

INDUSTRY KEYWORD: TRAVEL OTHER TRAVEL

SOURCE: Research and Markets

Copyright Business Wire 2018.

PUB: 09/27/2018 02:49 PM/DISC: 09/27/2018 02:49 PM

http://www.businesswire.com/news/home/20180927005827/en

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