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Albany, NY -- (SBWIRE) -- 09/22/2014 -- In accordance with China Hotel Industry Report, 2012-2015 released by Sino Market Insight, the sales of Chinese hotel industry will reach RMB 308.6 billion in 2015.
By the end of Q2 2012, there had been 12,280 star-rated hotels in China, including 194 one-star hotels, 3,487 two-star hotels, 5,699 three-star hotels, 2,242 four-star hotels and 658 five-star hotels. In Q2 2012, the total revenue of Chinese star-rated hotels grew 7.5% year-on-year to RMB60 billion, of which the revenue from food & beverage amounted to RMB26.27 billion, accounting for 43.8% of the revenue; and the revenue from guest room hit RMB26.66 billion, making up 44.5%. It is expected that, in 2015, the revenue of star-rated hotels in China will register RMB308.6 billion.
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In recent years, the astonishing progress of budget hotels is a remarkable characteristic of Chinese hotel industry. By Q4 2011, the budget hotels in China had numbered 7,314. Due to its acquisition on Motel 168 in Q4 2011, Home Inns has 1,426 hotels in operation with 176,562 rooms, ranking No. 1 in terms of market share. Additionally, the budget hotels enjoy the rising position in Chinese hotel industry. Amongst China’s top 25 hotels in 2010, Jin Jiang, Home Inns and 7days occupied the top 3 in total number of rooms.
The economic development and the residents’ rising demand for business travel will further promote the development of Chinese hotel industry in the future. On the one hand, China has a huge population base and the residents are changing their consumption concept and will increase their expenditure on tourism; and on the other hand, the Chinese government has introduced a string of policies concerning tourism & hotel industry and provides support in capital, technology and human resources.
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