Jul 20, 2020 (Market Insight Reports) -- Latest Industry Research Report On Hospitality Industry in China Market Research Report 2020 in-depth analysis of the market state and also the competitive landscape.
The Hospitality Industry in China market report provides information regarding market size, share, trends, growth, cost structure, market competition landscape, market drivers, challenges and opportunity, capacity, revenue, and forecast 2025. This report also includes the overall and comprehensive study of the Hospitality Industry in China market with all its aspects influencing the growth of the market. This report is exhaustive quantitative analyses of the Hospitality Industry in China industry and provides data for making strategies to increase market growth and effectiveness.
This study also analyzes the market status, market share, growth rate, future trends, market drivers, opportunities and challenges, risks and entry barriers, sales channels, distributors, and Porter’s Five Forces Analysis.
The hospitality industry in China has been growing significantly and is forecast to continue growing in the future as well, owing to the high population, majority of the people preferring domestic travel, and the rising number of international visitors. The growing economy is also encouraging domestic travel and the government is boosting holiday travel by releasing holiday travel restrictions and introducing a five-day workweek, aiming at longer vacations. The efforts by the government are yielding expected benefits, as domestic tourism contributed around USD 1.47 trillion to the GDP in 2018.
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The report presents the market competitive landscape and a corresponding detailed analysis of the major vendor/key players in the market. Top Companies in the Hospitality Industry in China Market: Huazhu Hotels Group Ltd, InterContinental Hotels Group PLC, Zhejiang New Century Hotel Management Co. Limited, Shanghai Jin Jiang International Hotels (Group) Company Limited, Marriott International, Jinmao Hotel, Ctrip, Shangri-la Hotels and Resorts, Guangdong (International) Hotel Management Holdings Limited, BTG-JIANGUO Hotels and Resorts, and others.
These players have been focusing on strategies such as acquisitions, new product developments & launches, agreements, and investments that have helped them to expand their businesses in untapped and potential markets. The diversified product portfolio and multiple uses are factors responsible for strengthening the position of these companies in the market.
Key Market Trends
To Meet the Rising Demand in China, the Total Number of Hotels are Increasing
With the increasing demand for domestic and international tourism, the total number of hotels in China are rapidly increasing. China accounted for more than 20,000 hotels in 2018, which was almost double the number of hotels that the country had in 2008. The country had around 10,200 hotels that belonged to both domestic and international brands and their chains, back in 2008. The total number of hotel rooms in China accounted for around 2.2 million units in 2008, which almost doubled to around, 4 million units, in 2019.
Influence of the Hospitality Industry in China market report:
– Comprehensive assessment of all opportunities and risks in the Hospitality Industry in China market.
– Hospitality Industry in China market recent innovations and major events.
– A detailed study of business strategies for the growth of the Hospitality Industry in China market-leading players.
– Conclusive study about the growth plot of the Hospitality Industry in China market for forthcoming years.
– In-depth understanding of the Hospitality Industry in China market-particular drivers, constraints, and major micro markets.
– Favorable impression inside vital technological and market latest trends striking the Hospitality Industry in China market.
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This report provides an effective business outlook, different case studies from various top-level industry experts, business owners, and policymakers have been included to get a clear vision about business methodologies to the readers. SWOT and Porter's five models have been used for analyzing the Hospitality Industry in China Market based on strengths, challenges, and opportunities in front of the businesses.
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