The hotel industry in China has grown steadily in size and revenue over the past decade with the total number of hotel accommodations surpassing 250 thousand in China. The industry offers a wide variety of accommodation options spanning from budget inns to luxury resorts. In 2021, China recorded nearly nine thousand star-rated hotels, most of them located in tourist cities and holiday destinations.
The domestic hotel industry in China
The hotel industry is one of the first industries opened up to foreign investment in China. Shortly after the economic reform of 1978, several joint-venture hotels appeared in larger cities like Beijing and Guangzhou. By the 1990s, the domestic hotel industry began to soar. Despite ongoing foreign investment, more than 95 percent of hotels in China remain domestic-invested. The share is even higher among middle- and lower-range hotels.
Headquartered in Shanghai, Jin Jiang International is the largest domestic hotel group in China, in terms of hotel numbers. Targeted at budget travelers, the majority of Jin Jiang hotels are select-service hotels. In 2019, Shanghai Jin Jiang International generated almost 21 billion yuan in revenue, earning it a place in the Chinese Fortune 500.
Resulting from the increasing interest in outbound tourism in China, Chinese hotels expanded rapidly to well-known vacation destinations, such as Southeast Asia and Europe. Apart from revenues, the globalization of Chinese hotels also brought more opportunities to establish their reputation among international tourists.
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Research expert covering e-commerce and FMCG in Greater China