While international travel remains limited with full recovery likely to take some time, domestic travel has witnessed a strong recovery, supporting rising sales for lodging. During the Labour Day Holiday, China’s first week-long holiday since the pandemic began to recede somewhat, China’s tourism industry has shown promising recovery.
Travellers are increasingly seeking experience-orientated accommodation beyond the basic needs of affordable prices and convenient locations. Luxury hotels with natural scenery, especially resorts, have therefore been less affected by the pandemic.
Lodging in China is highly fragmented, with the top 5 players accounting for one-quarter share of the lodging industry in 2021. With disrupted revenue streams and property pipelines, the lodging category is expected to see a significant reshuffle in the post-COVID-19 period.
In terms of hotel price platform, mid-market hotels are expected to achieve the greatest growth momentum over the forecast period. Mid-market hotels are likely to see a strong current value CAGR over the forecast period, driven by China’s growing middle-class population, whose consumption is becoming more sophisticated and will lead them to seek to upgrade their accommodation choices.
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This report originates from Passport, our Lodging research and analysis database.
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