The rise of home sharing is posing a threat to conventional hotel business as consumers, especially young consumers, are craving unique and authentic experiences.
Albany, NY -- (SBWIRE) -- 06/19/2018 -- China is a popular tourist destination and hence has a host of accommodation options that cater to the needs of different guests. One can conveniently find china hotels, which matches the taste and budget of one's choice. Recently, a fresh study titled "Hotels - China - May 2018" has been broadcasted to the wide database of Market Research Hub (MRH), which provides a 360-degree view of the hotel market in China by examining market dynamics, analyzing trends and understanding consumer attitudes towards hotels specifically in the region.
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The report begins with hotel market overview and executive summary sharing key details with market-related data such as issues and insights, companies and brands, consumer preferences, market size and forecast value and volume until the end of 2022, market segmentation, and market competitiveness. The competitive landscape of the report offers in-depth analysis and insights on the market share, their innovations and business strategies of key players operating in this landscape. The study covers classified and unclassified hotels, guesthouses, hostels and other transient accommodation for visitors.
Research Key Highlights
For a better understanding, the research offers market forecast by highlighting historical data and statistics as well as future value projections of various segments of the hotel market for a period of five years, starting from 2017 and ending in 2022. This section covers total travel accommodation outlets in China for the period 2012-17, and best- and worst-case forecast for total travel accommodation outlets until 2022. According to the study evaluations, there has been a sustainable growth forecast in the next five years.
Some of the prime factors responsible towards this growth include-
- The booming domestic travel market
- Business travel market growing rapidly as well
- More convenient transportation making travel easier than ever
- Family trips with kids prevailing
- A rise of sharing economy
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The research study further also adds that the rise of home sharing is posing a risk to conventional hotel business as consumers, especially young consumers, are craving unique and authentic experiences. In order to fulfill customer requirements, the analysts suggest that leading brands put greater focus on mid-scale hotels, a greater focus on family stays with kids, themed hotels to differentiate and embracing high technology would be a better option.
Moving further, the report throws light on consumer survey which highlights penetration of various types of accommodations, amenities and services used, and consideration factors. Moreover, it has been also observed in the study that hotel groups should reinforce their own advantages, such as professional customer services and fitness facilities, to stay competitive in the market.
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