Market Trends of China Online Accommodation Industry
This section covers the major market trends shaping the China Online Accommodation Market according to our research experts:
Tourist and Inbound Travelers promoting growth of Online Accommodation Market
The increase in tourists and business travelers and online sales channel expansion of the accommodation sector, including hotels, fueled the growth of the accommodation online booking market in China. The growing internet utilization in the country is helping the market studied to expand rapidly in China.
With an estimated 130 million annual tourists arrival, China will be the world's number one tourist destination. Meanwhile, the number of Chinese inbound visitors also has grown affluent.
China Hotel Market is expected to be driven by holidays, business travel, and the country's increasing popularity and Being the best destination for business meetings, conferences, and Exhibitions.
Increasing Penetration Rate of Online Accommodation Market
The penetration rate of online accommodation booking stood at 38.5 percent, with 397 million internet users have used the services by the end of 2021. Ctrip.com was the largest online holiday booking platform in the country.
After COVID-19, more offline hotels will accelerate the development of online booking services, which will raise the penetration rate of the accommodation sector in the online market.
Accommodation providers in China are now actively upgrading their management system to connect the offline room resources with their self-developed online booking systems or other OTA channels. For Middle- and low-end hotels having a low client base, online services provide an opportunity to reach a wider range of people and thus acquire more clients.
