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China boom for the hotel industry
By Cao Qian |
August 12, 2011, Friday
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Print Edition
Print Edition
CHINA is set to become one of the world's fastest-growing hotel markets with one internationally branded hotel opening every four days between the end of 2010 and 2013, an industry report said yesterday.
About 84,000 internationally branded hotel rooms, mostly upscale, are expected to be added across the country during the three-year period. Shanghai will take the largest share with nearly one seventh of the total, according to the annual China Hotel Market Outlook 2011, a joint publication by Jones Lang LaSalle Hotels and the China Tourism Hotel Association. The report is compiled after tracking 30 major hotel markets in China.
By 2013, there will be some 52,200 internationally branded hotel rooms in Shanghai, compared to around 40,300 rooms at the end of 2010, according to data by Jones Land LaSalle Hotels.
"While significant supply may lead to increased temporary competitive pressure on hotel performance in the short-term, we believe that sustained strong demand fundamentals will be able to carry the market rapidly through periods of compressed occupancy levels," said Hans Galland, senior vice president of Jones Lang LaSalle Hotels. "Across the country, demand outlook remains strong with continued solid growth in corporate travel while the MICE (meetings, incentives, conferences and exhibitions) and leisure sectors are also expected to be key demand drivers in the future."
However, increases in the cost of labor, energy and commodities, coupled with challenges in human resources and staffing, will continue to challenge profit margins and become an impediment to the industry's growth despite robust lodging demand, the report said.
Hoteliers anticipate 12 percent growth in revenue per available room this year.
About 84,000 internationally branded hotel rooms, mostly upscale, are expected to be added across the country during the three-year period. Shanghai will take the largest share with nearly one seventh of the total, according to the annual China Hotel Market Outlook 2011, a joint publication by Jones Lang LaSalle Hotels and the China Tourism Hotel Association. The report is compiled after tracking 30 major hotel markets in China.
By 2013, there will be some 52,200 internationally branded hotel rooms in Shanghai, compared to around 40,300 rooms at the end of 2010, according to data by Jones Land LaSalle Hotels.
"While significant supply may lead to increased temporary competitive pressure on hotel performance in the short-term, we believe that sustained strong demand fundamentals will be able to carry the market rapidly through periods of compressed occupancy levels," said Hans Galland, senior vice president of Jones Lang LaSalle Hotels. "Across the country, demand outlook remains strong with continued solid growth in corporate travel while the MICE (meetings, incentives, conferences and exhibitions) and leisure sectors are also expected to be key demand drivers in the future."
However, increases in the cost of labor, energy and commodities, coupled with challenges in human resources and staffing, will continue to challenge profit margins and become an impediment to the industry's growth despite robust lodging demand, the report said.
Hoteliers anticipate 12 percent growth in revenue per available room this year.
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