Who are the key players in China Hospitality Market?

Marriott International Inc., Jinjiang International, Huazhu Hotels Group (Hanting, Joya, and others), BTG Homeinns and GreenTree Hospitality Group are the major companies operating in the China Hospitality Market. Read More

What years does this China Hospitality Market cover, and what was the market size in 2023?

In 2023, the China Hospitality Market size was estimated at USD 79.62 billion. The report covers the China Hospitality Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the China Hospitality Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029. Read More

Hospitality Industry In China Market Size

Market Size of Hospitality Industry In China

Study Period	2020 - 2029
Base Year For Estimation	2023
Market Size (2024)	USD 86.66 Billion
Market Size (2029)	USD 128.04 Billion
CAGR (2024 - 2029)	8.12 %
Market Concentration	Medium
Major Players *Disclaimer: Major Players sorted in no particular order

China Hospitality Market Analysis

The Hospitality Industry In China Market size is estimated at USD 86.66 billion in 2024, and is expected to reach USD 128.04 billion by 2029, growing at a CAGR of 8.12% during the forecast period (2024-2029).

China's hospitality market has grown significantly in recent years. With political and social stability, rapid economic growth, and a vast population base and natural resources, China has lured many multinational hotels, including the world's leading hotel chains, to its potentially huge market. The number of Chinese inbound visitors also has grown to affluent who are traveling more within the country, boosting the growth of the China Hotel Market.

The global value chains have been interrupted because of the production losses in China. Also, China plays an important role in tourism. Chinese tourists spent $277 billion overseas in 2018, 21% of the global spending on tourism. Due to COVID-19, the tourism sector in China has been affected internationally.

The tourism and hotel market share growth in China by the outbound tourism segment will be significant during the forecast period. The market is driven by increasing preference for local and authentic experiences, the growing popularity of the 24-hour visa-free transit rule, and attraction toward ice sports and cruise tourism.

China Hospitality Industry Segmentation

A complete background analysis of the hospitality industry in China, which includes an assessment of the industry associations, overall economy, and emerging market trends based on segments, significant changes in the market dynamics, and the market overview, is covered in the report. The report offers market size and forecasts for the Hospitality Industry in China in value (USD Billion) for all the above segments.

The report on Hospitality Industry in China is segmented by Type (Chain Hotels and Independent Hotels) and Segment (Service Apartments, Budget and Economy Hotels, Mid and Upper Mid-scale Hotels, and Luxury Hotels).

By Type
		Chain Hotels
		Independent Hotels

By Segment
		Service Apartments
		Budget and Economy Hotels
		Mid and Upper Mid-scale Hotels
		Luxury Hotels

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Hospitality Industry In China Size Summary

The hospitality industry in China is experiencing robust growth, driven by factors such as political and social stability, rapid economic expansion, and a large population base. This growth has attracted numerous multinational hotel chains to the country, capitalizing on its vast market potential. The increase in domestic tourism, coupled with the relaxation of COVID-19 restrictions, has further fueled the expansion of the hotel sector. Despite the challenges posed by the pandemic, the industry has seen significant developments, including the introduction of new projects and an increase in hotel rooms. The market is characterized by strong competition, with domestic brands like Jinjiang Group and Huazhu Group Limited competing alongside international giants such as InterContinental Hotels Group and Shangri-la Hotels and Resorts, particularly in the high-end segment.

The rise of the middle class in China has led to a growing demand for leisure and vacation travel, with a notable shift towards self-planned travel experiences. This trend is supported by the increasing use of online travel platforms for information and booking, making them crucial distribution channels for hotel operators. The younger generation, particularly millennials, is reshaping the industry by driving domestic travel and influencing technological advancements in hospitality services. Major players are investing in smart technologies and partnerships with tech companies to enhance customer experiences. The expansion plans of international hotel chains, such as Marriott International and InterContinental Hotels Group, highlight the industry's potential for further growth in the region.

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Hospitality Industry In China Market Size - Table of Contents

1. MARKET DYNAMICS AND INSIGHTS
1. 1.1 Market Overview
2. 1.2 Market Drivers
3. 1.3 Market Restraints
4. 1.4 Market Opportunities
5. 1.5 Insights on the Impact of Technology on the Market
6. 1.6 Industry Attractiveness - Porter Five Forces
  1. 1.6.1 Threat of New Entrants
  2. 1.6.2 Bargaining Power of Buyers
  3. 1.6.3 Bargaining Power of Suppliers
  4. 1.6.4 Threat of Substitutes
  5. 1.6.5 Intensity of Competitive Rivalry
7. 1.7 Impact of COVID-19 on the Hospitality Industry
2. MARKET SEGMENTATION
1. 2.1 By Type
  1. 2.1.1 Chain Hotels
  2. 2.1.2 Independent Hotels
2. 2.2 By Segment
  1. 2.2.1 Service Apartments
  2. 2.2.2 Budget and Economy Hotels
  3. 2.2.3 Mid and Upper Mid-scale Hotels
  4. 2.2.4 Luxury Hotels