Overview: In 2023, the domestic tourism market will gradually recover, and major Internet celebrity cities will frequently go out of the circle, attracting consumers from all over the world to travel and travel, and at the same time, China has introduced a series of policies to attract more foreign tourists, which will further promote the development of the domestic high-end hotel industry. According to statistics, from the first quarter to the third quarter of 2023, China's high-end hotel operating income maintained a growth state, increasing from 26.454 billion yuan to 35.225 billion yuan, while the fourth quarter was the off-season for travel, especially after the Mid-Autumn Festival and National Day, leisure demand declined significantly, so the operating income of high-end hotels declined, down 3.9% quarter-on-quarter to 33.856 billion yuan. From the first quarter to the second quarter of 2024, it will still maintain the upward trend of the same period in 2023, increasing from 28.652 billion yuan to 29.774 billion yuan. It is expected that under the influence of summer vacation in the third quarter, the number of tourists across the country will continue to increase, thereby driving the rapid growth of high-end hotel operating income.
Keywords: high-end hotels, number of hotels, operating income, East China
1. Overview of the high-end hotel industry
A hotel, also known as a guesthouse, inn, inn, hostel, business travel, inn, inn, is basically defined as a commercial institution that provides a safe and comfortable space for users to have a short period of rest or sleep. According to the division of hotel star ratings, hotels are mainly divided into five grades: five-star, four-star, three-star, two-star and one-star, of which four-star and five-star hotels belong to high-end hotels. A high-end hotel is usually a hotel that offers luxury accommodation, quality service, and unique experiences, usually in the center of a city or tourist destination, with a higher price tag and a more specific customer base. With spacious and comfortable rooms, high-end facilities and equipment, professional service and good reputation, they are committed to satisfying customers' pursuit of high quality of life.
High-end hotels are characterized by their luxurious hardware facilities and all-round high-quality services, which meet consumers' needs for high-quality accommodation experience. With the increase in the income level of residents, more and more consumers are able and willing to pay for this high-quality service, thus promoting the growth of high-end hotel consumption. According to the data, in recent years, the per capita disposable income of mainland residents has continued to grow, increasing to 39,218 yuan in 2023, an increase of 6.10% year-on-year; The per capita consumption expenditure also increased, rising by 9.00% year-on-year to 26,796 yuan in 2023. In the first half of 2024, the per capita disposable income of Chinese residents will reach 20,733 yuan, an increase of 5.30% year-on-year; The per capita consumption expenditure of residents reached 13,601 yuan, an increase of 6.70% year-on-year. It is expected that with the increase of per capita disposable income and consumer expenditure in the future, more people will choose high-end hotels, and the future development space of the industry is huge.
Second, the high-end hotel industry chain
From the perspective of the industrial chain, the upstream of the high-end hotel industry mainly includes real estate related suppliers such as real estate development, housing design, and building materials supply, hotel supplies providers such as toiletries and bed sheets, and service providers such as hotel system software and cleaning personnel training. The midstream of the industrial chain is mainly high-end hotel operators, mainly responsible for the daily operation, management and maintenance of the hotel, including room service, catering service, front desk reception, etc.; Downstream refers to high-end hotel consumers, mainly including tourism customers, business customers and other customers.
Note: This article is excerpted from the "Research and Judgment 2024! Analysis of the industrial chain and development status of China's high-end hotel industry: market demand has recovered, and newly opened hotels are mainly concentrated in East China [Figure]" industry analysis article, if you want to get all the content of the industry article, you can enter the official website of Zhiyan Consulting to search and view.
Based on the authoritative data released by the National Bureau of Statistics, government agencies and industry associations, the "Research Report on Investment Strategy Analysis and Development Prospects of China's High-end Hotel Industry" released by Zhiyan Consulting combines the collection and analysis of global data such as in-depth research data, expert feedback data, and internal operation data to improve the efficiency of customers' business decision-making. This report makes an in-depth investigation and research on the current situation and market of China's high-end hotel industry, and makes a prudent judgment on the future development prospects and trends according to the development trajectory of the industry, which provides a crucial decision-making reference for investors to find new market investment opportunities and enter the investment layout of the high-end hotel industry.
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