china hotel industry
China’s Travel & Tourism Sector Could Reach CNY 11 Trillion This Year, Says WTTC
WTTC | February 22, 2022
London, UK - February 22, 2022 - New research from the World Travel & Tourism Council (WTTC) has revealed China’s Travel & Tourism sector’s contribution to GDP could reach CNY 11 trillion this year, just 5.2% short of pre-pandemic levels. In 2019, before the pandemic struck, China’s Travel & Tourism sector’s contributed CNY 11.5 trillion to GDP (11.6% of the country’s economy). However, in 2020 the pandemic had a major impact on the sector and Travel & Tourism’s contribution to the Chinese economy fell by a staggering 59.9%, to CNY 4.6 trillion. Latest research from the global tourism body shows that as t...
STR: China Hotel Rates Higher Than 2019 Level During Lunar New Year
STR | February 15, 2022
BEIJING — February 15, 2022 — Mainland China’s hotel industry surpassed its 2019 comparable in Lunar New Year average daily rate (ADR) even with substantially lower occupancy, according to preliminary data from STR. The country’s ADR reached CNY766.95 during this year’s holiday period (31 January-6 February), which was 9.6% higher than the pre-pandemic comparable from the festival period in 2019 (CNY699.47). “More significant recovery of ADR aligns with our expectations for this year’s Lunar New Year period, with overall rates driven by the upper classes,” said Christine Liu, STR’s regional manager for North ...
PolyU Study Finds the State Isn’t That Great
May 30, 2019
30 May 2019 -- Types of ownership can be crucial determining factors in hotel firm performance. Indeed, domestic and international institutional shareholders have different effects on the performance of hotel firms in China, according to Dr Henry Tsai of the School of Hotel and Tourism Management (SHTM) at The Hong Kong Polytechnic University and his co-researchers. In a recent study, the researchers found that firms with high levels of state ownership performed poorly in terms of future growth potential, but the effects of domestic and international shareholders were rather more complex. China's hotel industry has grown tremendously in...
