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The Chinese hotel sector resurfaces and sets a record number of rooms after the pandemic

Date: March 2, 2024 Time: 05:19:43

Tourism has shelved the coronavirus pandemic that has devastated the planet since the end of 2019, when it originated in China, precisely this market has been the last to fully recover in this sector. The Asian giant recovers hotel spirit once the ‘Zero Covid’ policy has been eliminated. The ‘pipeline’ of establishments in the Chinese hotel sector (in the development or construction phase) at the end of the first quarter stood at 3,659 hotels and 680,959 rooms, with 2,697 projects already under construction, which represents its historical record, according to a Econometric Accommodation data.

From January to March, thanks to the reopening of the borders and national holidays, the demand for hotel accommodation has rebounded and this has determined that the sector once again boosted the construction of new establishments.

In the first quarter of this year, China lost the opening of a total of 78 hotels (14,335 rooms) and the forecasts of Lodging Econometrics analysts is that at the end of the year a total of 805 projects (115,356 rooms) opened their doors. By 2024, the Asian giant is expected to open another 899 hotel projects (145,635 rooms).

In the first three months of the year, work has already begun to build 219 hotels (38,162 rooms), which represents a year-on-year increase of 60% by number of projects and 49% by rooms. The main franchise companies involved in Chinese hotel development are Hilton Worldwide, IHG and Marriott International.

Parallel to the start of the works, announcements of new projects also grew substantially in the first quarter, reaching 278 hotels (42,362 rooms), with some of these directly entering the construction phase of the project.

There are currently a total of 365 projects (69,191 rooms) whose construction is scheduled to begin in the next twelve months, while the projects in the initial planning stage increase to 597 hotels (127,616 rooms).

Chengdu and Shanghai are the two Chinese cities with the highest number of planned establishments, with 138 and 116 projects, respectively. They are followed by Guangzhou, with 111 projects; Hangzhou, with 98 establishments, and Xi’an, which has a total of 98 planned hotels.

The main franchise companies presenting in the ‘pipeline’ of China are Hilton Worldwide, with a record of 693 projects that represent 124,796 rooms, InterContinental Hotels Group (IHG) with numbers of projects and number of rooms also at record levels, plans to open 470 hotels (97,692 rooms).

For its part, Marriott International has 373 projects to be developed, totaling 97,667 rooms. They are followed by Accor, with 223 projected establishments (38,175 rooms) and JinJiang Holdings, with 199 projects corresponding to 20,190 rooms.

* This website provides news content gathered from various internet sources. It is crucial to understand that we are not responsible for the accuracy, completeness, or reliability of the information presented Read More

Puck Henry
Puck Henry
Puck Henry is an editor for ePrimefeed covering all types of news.

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