$68.1bn
$X.Xbn
3m
18,753
$X.Xbn
Industry revenue for the Hotel industry in China is expected to decrease at a CAGR of 2.1% over the five years through 2023, to $68.1 billion. This trend includes an expected increase of 35.2% in the current year.Industry globalization has declined over the past five years, along with the average star rating of hotels operated by industry enterprises. Foreign investment is particularly low for hotels with a one-star rating. Price is a particularly important basis of competition in this segment, and other factors like services and brands play much smaller roles in attracting customers.Foreign enterprises, which significantly influence the industry's development, have introduced brand and chain management concepts, along with high service standards, to China. Foreign companies have strong and dominant positions in the high-end hotel market but have recently started moving into the lower end of the industry. Many foreign hotel management companies have started developing hotels with four- and three-star ratings to capture more customers and strengthen their market positions.Affected by the outbreak of COVID-19 in China, by the end of 2020, the industry revenue of Hotels in China declined dramatically, down by 30.8% from 2019. During the epidemic period, the number of people traveling decreased significantly. Hotel occupancy rates are low, even though some have decreased their price. In 2023, with the effective control of COVID-19 in China, the number of domestic tourists will be restored and will increase by 91.5%. The industry revenue of Hotels in China is expected to increase by 35.2% by 2022. Promoted by the increased number of people traveling, industry revenue is forecast to increase at a CAGR of 8.6% over the five years through 2028 to $102.8 billion.
Industry revenue has declined at a CAGR of 2.1 % over the past five years, to reach an estimated $68.1bn in 2024.
Market size is projected to grow over the next five years.
Company | Market Share (%)
2023 | Revenue ($short_0)
2023 |
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There are no companies that hold a large enough market share in the Hotels in China industry for IBISWorld to include in this product.
Industry revenue is measured across several distinct product and services lines, including Five-star hotels, Four-star hotels and Three-star hotels. Five-star hotels is the largest segment of the Hotels in China.
Five-star hotels offer luxurious accommodations and unique services
Operators in the Hotels industry provide accommodation services to a specific standard. Hotels and resorts are licensed to provide accommodation on a room or suite basis. Bathrooms and other facilities are present in most guest rooms.
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Demand for hotels will be rebounded. After the relaxation of restrictive policies, the pent-up demand for tourism has been released, promoting a rebound in the industry.
Learn about an industry's products and services, markets and trends in international trade.
Hotels with different star rates meet customers’ diverse needs. High-star hotels provide luxury accommodation, three- or four-star hotels cater to more business travelers, an...
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Cites with frequent business activities have advantages. Central cities like Beijing, Shanghai, and Guangzhou are the main destinations for business travel, so the hotel indu...
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Price is the key to hotel competition. The internal competition in the industry is fierce, and customers are more willing to choose hotels with high-cost performance.
Learn about the performance of the top companies in the industry.
Upgrade digital facilities in large hotels. Digital and intelligent facilities improve the operational efficiency of hotels and improve the accommodation experience of custom...
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Regulations clarify industry standards. Most regulations in the industry impose requirements on hotel hygiene and food safety and clarify the criteria for hotel rating.
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Profits will rebound in the short term. The suppressed tourism expectation will rebound the hotel industry in 2023.
Including values and annual change:
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Key data sources in China include:
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
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IBISWorld’s analysts and data scientists use the sources above to create forecasts for our proprietary datasets and industry statistics. Depending on the dataset, they may use regression analysis, multivariate analysis, time-series analysis or exponential smoothing techniques to project future data for the industry or driver. Additionally, analysts will leverage their local knowledge of industry operating and regulatory conditions to impart their best judgment on the forecast model.
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The market size of the Hotels industry in China is $68.1bn in 2024.
There are 18,753 businesses in the Hotels industry in China, which has grown at a CAGR of 0.2 % between 2019 and 2024.
The market size of the Hotels industry in China has been declining at a CAGR of 2.1 % between 2019 and 2024.
Over the next five years, the Hotels industry in China is expected to grow.
Operating hotels and Operating resorts are part of the Hotels industry.
The level of competition is moderate and increasing in the Hotels industry in China.