Published on : Tuesday, October 18, 2016
With its sustainable growth of the economy, China has seen an increasing development of the tourism industry in the past few years. Even if the inbound market is currently in a downturn, the outbound market is expanding steadily. Due to great improvement of the people’s living standards and consumption level, Chinese travelers are welcome guests all over the world. Most favored countries by Chinese people are mainly Asian countries such as South Korea, Japan and Thailand but also France, Italy, Switzerland, Germany and the USA have become focused travel destinations.
Among others, the domestic tourism benefits from the large population of currently 1.37 billion citizens and enhances the national employment, consumption and economic development in the country. The most popular cities for domestic travelers are Beijing, Shanghai, Guangzhou, Xian, Guilin, Hangzhou, Sanya, Lhasa, Chengdu, Lijiang, Hong Kong and Macau.
With its strong domestic tourism, the country is in the need of new hotel rooms. Investors are focusing especially on large and popular cities. According to TOPHOTELPROJECTS, 762 first class and luxury hotels with more than 200,000 rooms are currently in the pipeline in China.
Top 5 cities by their current number of projects:
Hilton Worldwide is one of the large hotel groups that are taking advantage of the huge potential of the Chinese hotel market. With its brands Hilton Hotels & Resorts (46 projects), DoubleTree by Hilton (32 projects) as well as Hilton Garden Inn (14 projects), the hotel group is planning on expanding its presence in this Asian country. But also Marriott’s newly achieved brands Four Points by Sheraton (41 projects) and Sheraton Hotels & Resorts (33 projects) will help the US hotel group develop its brand further overseas.
One of the most outstanding projects right know is the Pacific Dream Plaza Hotel with 1,500 rooms. The giant hotel was designed by Atkins Architecture and is located in Qingdao. The opening is scheduled for early 2018.