Hospitality Industry in China Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Report Covers Hotel Industry in China and is Segmented by Type (Chain Hotels and Independent Hotels) and Segments (Service Apartments, Budget and Economy Hotels, Mid and Upper Mid-scale Hotels, and Luxury Hotels). The market size and forecasts for the Hospitality Industry in China are provided in terms of value (USD Billion) for all the above segments.

China Hospitality Market Size

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Hospitality Industry in China Summary
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

Hospitality Industry in China Major Players

*Disclaimer: Major Players sorted in no particular order

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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 Market Trends

This section covers the major market trends shaping the China Hospitality Market according to our research experts:

The Rising Demand for Hotels is Driving the Growth of the Market

With rising domestic tourism and corporate travel, as well as the relaxation of Covid-19 limitations, China's hotel sector is still far from saturated and poised for expansion. Despite the pandemic's failures, China's hotel business has enjoyed rapid expansion in recent years, with 3,711 new projects (8% rise year on year) and 704,101 extra rooms (7% increase year on year) in Q1 2022.

It's also worth mentioning that market concentration in the business remains rather strong, with Jinjiang Group, Huazhu Group Limited, and Guangdong (International) Hotel Management Holdings Limited among China's top domestic hotel management brands. Foreign organizations such as InterContinental Hotels Group (IHG) and Shangri-la Hotels and Resorts now dominate the high-end hotel market.

Hospitality Industry in China - Average Occupancy of Hotels in China in Percentage, 2016-2021

Growing Internet Access and Online Testimonials is Driving the Market

China's burgeoning economy has produced a large middle class looking for services that improve quality of life, which has spawned a growing trend toward more leisure and vacation travel in China. A recent A.T. Kearney consumer study of China's upper middle class-currently comprising 13 million households and projected to grow to 55 million in 10 years-shows that the mainly Chinese prefer self-planned travel over group travel packages. About 70 percent of travelers use online travel sites for information gathering, with 58 percent booking their accommodations on sites such as Qunar.com or Lvmama.com. With China's 500 million-plus Internet users and an ever-increasing demand for individual self-planned tours, online travel sites are important distribution channels for any hotel operator.

The transaction volume of the Chinese online travel booking market amounted to approximately 1.8 trillion yuan, with an annual growth rate of 21.6 percent. The importance of transactions dropped in 2020, the first year of the COVID-19 pandemic, to 987.5 billion yuan but was estimated to grow in 2021 and 2022.

Hospitality Industry in China

China Hospitality Industry Overview

The rising younger generation is reshaping the hospitality industry in China. This influential generation is driving the domestic travel market, which accounts for a great share of the hospitality industry. In order to cope with the preferences of the millennial population, the key players in the hospitality industry are opting for technological upgrading of their properties throughout the country. InterContinental Hotels Group has teamed up with Baidu and is introducing artificial intelligence-supported smart rooms in China. Likewise, Marriott International also teamed up with China's Alibaba Group Holding to launch facial recognition technology for check-ins. Major players such as Beijing Zhiyuan International Travel Agency Co. Ltd., Emei Shan Tourism Co. Ltd., Expedia Group Inc., Guangdong International Hotel Management Holdings Ltd., Huangshan Tourism Development Co. Ltd., Huazhu Group Ltd., and others have a significant presence in the hospitality industry in China.

China Hospitality Market Leaders

  1. Beijing Zhiyuan International Travel Agency Co. Ltd.

  2. Emei Shan Tourism Co. Ltd.

  3. Expedia Group Inc.

  4. Guangdong International Hotel Management Holdings Ltd.

  5. Huangshan Tourism Development Co. Ltd.

  6. Huazhu Group Ltd.

*Disclaimer: Major Players sorted in no particular order

Hospitality Industry in China Concentration
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China Hospitality Market News

  •  November 2022: The U.S.-based hotel chain Marriott International announced the plan to add 30 hotels in Greater China by the end of 2023. This is expected to add more than 460 properties in 120 destinations in the Greater China region to Marriott's hotel portfolio.
  •  September 2022: The U.S.-based hospitality firm InterContinental Hotels Group (IHG) announced the opening its 600th hotel in Greater China. The Kimpton Bamboo Grove Suzhou has 179 rooms and features a signature Chinese restaurant, The Grove.

China Hospitality Market Report - Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS AND INSIGHTS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

    3. 4.3 Market Restraints

    4. 4.4 Market Opportunities

    5. 4.5 Insights on the Impact of Technology on the Market

    6. 4.6 Industry Attractiveness - Porter Five Forces

      1. 4.6.1 Threat of New Entrants

      2. 4.6.2 Bargaining Power of Buyers

      3. 4.6.3 Bargaining Power of Suppliers

      4. 4.6.4 Threat of Substitutes

      5. 4.6.5 Intensity of Competitive Rivalry

    7. 4.7 Impact of COVID-19 on the Hospitality Industry

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Type

      1. 5.1.1 Chain Hotels

      2. 5.1.2 Independent Hotels

    2. 5.2 By Segment

      1. 5.2.1 Service Apartments

      2. 5.2.2 Budget and Economy Hotels

      3. 5.2.3 Mid and Upper Mid-scale Hotels

      4. 5.2.4 Luxury Hotels

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Market Concentration Overview

    2. 6.2 Company Profiles

      1. 6.2.1 Beijing Zhiyuan International Travel Agency Co. Ltd.

      2. 6.2.2 Emei Shan Tourism Co. Ltd.

      3. 6.2.3 Expedia Group Inc.

      4. 6.2.4 Guangdong International Hotel Management Holdings Ltd.

      5. 6.2.5 Huangshan Tourism Development Co. Ltd.

      6. 6.2.6 Huazhu Group Ltd.

      7. 6.2.7 InterContinental Hotels Group PLC

      8. 6.2.8 Intrepid Group Pty Ltd.

      9. 6.2.9 Jin Jiang International Holdings Co. Ltd.

      10. 6.2.10 Jinmao China Hotel Investments and Management Ltd.

      11. 6.2.11 Marriott International Inc.

      12. 6.2.12 Shangri La Asia Ltd

      13. 6.2.13 The Dragon Trip.

      14. 6.2.14 Tongcheng Travel Holdings Ltd.*

    3. *List Not Exhaustive
  7. 7. MARKET OPPORTUNTIES AND FUTURE TRENDS

  8. 8. DISCLAIMER AND ABOUT US

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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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China Hospitality Market Research FAQs

The China Hospitality Market size is expected to reach USD 86.66 billion in 2024 and grow at a CAGR of 8.12% to reach USD 128.04 billion by 2029.

In 2024, the China Hospitality Market size is expected to reach USD 86.66 billion.

Beijing Zhiyuan International Travel Agency Co. Ltd., Emei Shan Tourism Co. Ltd., Expedia Group Inc., Guangdong International Hotel Management Holdings Ltd., Huangshan Tourism Development Co. Ltd. and Huazhu Group Ltd. are the major companies operating in the China Hospitality Market.

In 2023, the China Hospitality Market size was estimated at USD 80.15 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.

China Hospitality Industry Report

Statistics for the 2024 China Hospitality market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. China Hospitality analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.

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Hospitality Industry in China Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)