Hotels in china: china’s tourism push will drive future growth, says ibisworld
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IBISWorld Market Research
The World Tourism Organization forecasts that China will become the leading destination for international tourism by 2020.
Los Angeles, CA (PRWEB) April 02, 2012
In the five years through 2012, the Hotel industry in China has been growing 6.3% on average to an estimated $38.8 billion, according to IBISWorld research. However, growth has been volatile due to a number of macro-economic conditions, like the global recession in 2009, and non-economic factors like natural disasters and strict visa limits during the 2008 Beijing Olympic Games. A particularly bright year for the industry was 2010, due to the Shanghai Expo and the Guangzhou Asian Games, which resulted in a surge in foreign tourists entering the county.
The top four players in this industry–Shangri-La Hotels and Resorts, InterContinental Hotels Group, Guangdong (International) Hotel Management Holdings, and Shanghai Jinjiang International Hotels Development–account for a combined market share of 4.1% in 2012, according to IBISWorld research. Market shares change every year in this dynamic industry, though, as the pace of investment in new capacity differs among players.
The World Tourism Organization forecasts that China will become the leading destination for international tourism by 2020. Development of the tourism sector will drive growth in the Hotel industry over the next five years. IBISWorld also expects foreign players to continue to have a significant impact on the industry’s development. These companies have strong and dominant positions in the high-end market, but have recently started moving into the lower-star rated segments.
For more information, visit IBISWorld’s Hotels in China industry report page.
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IBISWorld industry Report Key Topics
Hotels in China provide accommodation services at the required state standards and quality. Hotels and resorts are licensed to provide accommodation on a room or suite basis. Bathroom and other facilities are present in most guest rooms.
Key External Drivers
Industry Life Cycle
Products & Markets
Products & Services
Globalization & Trade
Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Barriers to Entry
About IBISWorld Inc.
Recognized as the nation’s most trusted independent source of industry and market research, IBISWorld offers a comprehensive database of unique information and analysis on every US industry. With an extensive online portfolio, valued for its depth and scope, the company equips clients with the insight necessary to make better business decisions. Headquartered in Los Angeles, IBISWorld serves a range of business, professional service and government organizations through more than 10 locations worldwide. For more information, visit http://www.ibisworld.com or call 1-800-330-3772.
Sources: http://www.prweb.com/Tags: China, SHANGHAI