Dallas, TX -- (SBWIRE) -- 03/21/2013 -- ReportsnReports.com adds new market research report “Research and Development Forecast of China’s Budget Hotel, 2013-2017” to its store.
Research and Development Forecast of China’s Budget Hotel, 2013-2017 (http://www.reportsnreports.com/reports/228480-research-and-development-forecast-of-chinas-budget-hotel-2013-2017.html) conducts an in-depth analysis on budget hotel industry’s market status quo, market scale, competition situation, and key hotels’ business performance. In addition, it also makes a forecast on the development of budget hotel industry. This report provides reference for investors.
Compared with developed countries, budget hotel industry started late in China. The proportion of budget hotel is less than 30% in China’s hotel industry, but the proportion has exceeded 70% in U.S. The development space of budget hotel in China is broad.
With the participation of other enterprises and the foreign brands, the competition in budget hotel industry is fiercer. Budget hotel industry has entered an era of meager profit.
After the beginning, debut, and continuous expansion, by the first half of 2012, the number of budget hotel in China has reached 8,313; the number of room has reached 837,220, growing 360 times and 257 times respectively compared with 2000.
At present, the number of budget hotel brand is 419; the market share of Home Inns Group, Hanting Inns and Hotels and 7 Days Group Holdings has reached more than 47%. Compared with the second and third-tier cities, the number of budget hotels in Beijing, Shanghai, Guangzhou and some other first-tier cities has been saturated. Many hotels are exploring the market in the second and third-tier cities, which is a trend in the industry.
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