According to an incomplete survey by Mydata Travel Research Institute on domestic hotel openings, in Q4 2011, 56 star-rated hotels were opened in China, with a total of over 16,748 rooms (suites). The data shows that among the hotels rated three stars and above (including three stars) opened in Q4, the number of five-star hotels surged dramatically, accounting for as much as 86%, and the number of international branded hotel openings also continued to rise, exceeding half of the total.
2011Q1-2011Q4 National Star-Rated Hotel Openings Statistics (3 Stars and Above)
The hotel market in 2011 was somewhat subdued. In the first nine months of the year, the hotel occupancy rate on the Chinese mainland was 61%, the lowest in Asia; the average turnover rate in the hotel industry in 2011 was about 29.1%, nearly 5 percentage points higher than the previous year; and numerous high-star hotels were stripped of their ratings. These were all significant setbacks for China’s hotel industry, but investors did not shy away. They remain optimistic about the future of China’s hotel industry. As can be seen from the chart above, the number of high-star hotel openings nationwide increased gradually quarter by quarter in 2011, reaching its peak in Q4. Industry insiders noted: 2011 marked the beginning of China’s hotel industry seeking transformation and ushering in a new era.
Note: The “star rating” mentioned in this report refers to the construction standard publicly announced by the investor.
Note: The “star rating” mentioned in this report refers to the construction standard publicly announced by the investor.