Greater China Hotel Report May 2020

Research Date: Tuesday, 2 June 2020
Greater China Hotel Report May 2020 | KF Map – Digital Map for Property and Infrastructure in Indonesia

Against the backdrop of a slowing domestic economy, coupled with global economic uncertainties and the protracted China–US trade war, the hotel industry in the Greater China region demonstrated weak performance in 2019. Among all major cities, including Beijing, Shanghai, Shenzhen, and Hong Kong, the Average Daily Rate (ADR) of five-star hotels shrank, and the occupancy rate dropped in Shanghai, Shenzhen and Hong Kong. Macau still managed a slight increase in ADR, but the occupancy rate fell. The weak growth trajectory of the hotel industry was further dragged down by the COVID-19 outbreak and this is expected to continue in the first half of 2020.

In Beijing, the number of tourist arrivals declined, and demand for tourism accommodation weakened in 2019. The weak global economy, keen competition and huge amount of new supply have exerted heavy pressure on the local hotel market. In 2019, nine new luxury hotels opened in Beijing, providing an additional 2,315 rooms. Three five-star hotels are expected to open in Beijing in 2020, including the Beijing Qianmen Oriental Mandarin Hotel, the Beijing Tongzhou Hilton Hotel, and the Beijing Daxing Hilton Hotel. With these new hotels, the total number of luxury hotel rooms in Beijing will increase by 492, reaching 42,903 rooms in 2020.

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