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China

China

China, with the largest population of the world, is in huge economic transformation due to the fastest-growing middle-class. Nowadays the number of middle-class people in China has reached 500 million and in 2020, this figure is expected to increase up to 1.75 billion. Declined growth in the real estate market and fixed asset investment has led to a notable change in the hotel industry. International luxury hotel chains are making more efforts to take advantage of the growing Chinese middle-class with luxury desires. Also, in these days, small luxury hotel or boutique hotel has gradually become popular in China, which is not as majestic and unified as large international chains, but draw consumers by their delicate and characteristic hotel culture. Indeed, hotel investors have become more sensitive to financial returns and thus have started to invest on select-service hotel products.

Park Hyatt Changsha

Hyatt and The Wharf (Holdings) Limited today announced plans for a new Park Hyatt hotel in Changsha, the capital of Hunan province, marking the luxury Park Hyatt brand's entry into Central China. Situated within the iconic landmark Changsha IFS, the new luxury hotel is expected to offer global travelers refined, sophisticated and unparalleled experiences in Changsha.

Microtel by Wyndham to Open 20 New Hotels in Greater China by the End of 2022

Wyndham Hotels & Resorts, the world’s largest hotel franchising company and leading provider of hotel management services with approximately 9,000 hotels across nearly 95 countries, continues to expand its portfolio in China with 20 new Microtel by Wyndham hotels by the end of 2022, located in key cities and emerging destinations across the country.

Shanghai Sheshan Okura

Hotel Okura Co., Ltd. is pleased to announce Shanghai Sheshan Okura hotel will open in 2024. The new hotel is located in the scenic Sheshan Tourist Resort in Shanghai. Hotel Okura Co., Ltd. and Shanghai Urban Construction Construction Industry Group have signed a hotel operation and management agreement on August 31, 2020.

China's Hotel Construction Pipeline Continues Upward Trend Through the Second Quarter

According to analysts at Lodging Econometrics (LE), the total China construction pipeline stands at 3,454 projects/661,043 rooms. At the end of the second quarter, the 2021 construction pipeline is up 2% by rooms year-over-year (YOY) and just below the region’s all-time high project count of 3,574 projects/647,704 rooms set in the second quarter of 2020.

China’s Hotel Recovery Evaporated in 2 Weeks

China, usually seen as the global leader in the hotel industry’s recovery from the pandemic, took a massive fall last week in its hospitality comeback due to the Delta variant. Prior industry optimism about the country’s ability to quickly rally after a setback doesn’t seem to apply this time around.

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