Published on : Monday, January 8, 2018
The chairman and CEO of AccorHotels, Mr. Sebastien Bazin, recently shared his thoughts on the hospitality market of China and the forthcoming travel technologies at the 2017 China Tourism Development Forum to be organized in Suzhou, China on December 20th.
To quote Mr. Bazin, “China will be, or maybe it is already, the largest market in the world, surpassing the US. With every year passing, Chinese travelers will get more and more comfortable moving away from Asia Pacific. And that has a huge impact on the hospitality industry.”
To quote Bazin, “China and the US are the two largest hospitality markets in the world. Both have been through fast growth for the past 40 years”, and “what is happening in China today is the exact same thing that had happened in the US during 1970-1990, when major US chain companies dominated the US market for 20 years”.
Marriott, Hilton, Wyndham and other famous hotel brands have controlled the US hotel market ever since the late 20th century as it’s comparatively easier to get hold of with a standard legal system and currency in the single US market. Similarly, BTG HomeInns, Jin jiang and China Lodging together manage over half of the market share in China’s hotel industry nowadays.
“I have to accept not being the leader in China, the biggest hospitality market in the world. But I just cannot exit China. I have to remain because I need Chinese travelers to visualize Accor’s brands in China. If they don’t know Ibis, Pullman, Mercure hotels, they will not go to these brands outside of China,” said Mr Bazin.