Nov 12, 2019 (Market Insight Reports via COMTEX) -- The report presents an in-depth assessment of the China Tourism And Hotel Market including enabling technologies, key trends, market drivers, challenges, standardization, regulatory landscape, deployment models, operator case studies, opportunities, future roadmap, value chain, ecosystem player profiles and strategies. The report also presents forecasts for China Tourism And Hotel investments from 2019 till 2023.
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The China Tourism And Hotel market is highly competitive and consists of a number of major players. Companies like Ctrip, Tunia Corporation, elong, Qunar, LY.COM, Alitrip, Emei Shan Tourism, Huangshan Tourism Development, Shanghai Jin Jiang International Hotels Development, Huazhu Hotels Group Ltd, Hna-caissa Travel Group, Jin Jiang International, Homeinns Hotel Group, Marriott International, Starwood Hotels and Resorts Worldwide, Accor Hotels, Intercontinental Hotels Group, Booking.com among others.
Scope of the Report:
The Tourism industry in China is growing steadily, both domestically and internationally owing to the many driving factors, such as the growing population in the middle-class segment and rising disposable income of people, the initiatives and support from the government to promote the tourism sector, growing investments, good transport infrastructure, etc. The strong growth in the domestic and inbound tourism leads to the growth in the hotel industry in China. Any adverse changes in political and economic consequences may hinder the growth of the market.
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Key Market Trends:
Skyrocketing Middle-class Population
The strong growth in the middle-class population is one of the significant factors that drives the Tourism and Hotel Industry in China. China’s middle-Class population is multiplying and is expected to burst in the future according to many estimates. The Middle-Class population of China is expected to reach 780 million by 2022 from the present 430 million. The increasing middle-class population and the change in the consumer behavior are leading to a rise in the leisure spending, thereby resulting in the growth of the tourism and hotel industry.
Boutique Hotels – Gaining Popularity
With the tourism in China booming, the hotel industry is also growing at a steady pace and witnessing growth in the occupancy rates. The growing investments and the mergers and acquisitions are expected to augment the growth of the hotel industry in China further. The establishment of boutique hotels that offer a unique experience and focusing on lifestyle is gaining momentum in the recent times. Also, the wellness tourism is gaining attention in China. The revenue per available room increased by 5.6% in 2017, when compared to that of 2016. The Chinese hotel industry has a huge pipeline for the hotel projects with ~2500 projects.
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What are the market factors that are explained in the report?
-Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a China and regional scale.
-Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.
-Analytical Tools: China Tourism And Hotel Market report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter's five forces analysis, feasibility study, and investment return analysis have been used to analyzed the growth of the key players operating in the market.