— China Edition —

Hotel Development Trends & Projections

China’s Hotel Construction Pipeline Ends 2023 with Record-Breaking Project and Room Counts

According to the latest China Construction Pipeline Trend Report from Lodging Econometrics (LE), China’s total hotel construction pipeline reached a new all-time high by projects for the second quarter in a row at Q4 2023. With a 6% year-over-year (YOY) increase in projects and a 2% YOY increase in rooms, the country’s total pipeline ended the year at 3,788 projects with 691,772 rooms.

Projects currently under construction encompasses an impressive 2,644 projects/473,921 rooms, reflecting a 1% increase by projects YOY, while projects scheduled to start construction in the next 12 months are up 4% YOY and stand at 420 projects/74,067 rooms. Notably, projects in the early planning stage experienced a remarkable surge, achieving record-high counts in Q4. This stage witnessed a 30% YOY rise in projects and a 16% YOY increase in rooms, to close the quarter at 724 projects/143,784 rooms. The region also saw an impressive 77% YOY uptick in new project announcements (NPAs), culminating in 308 new projects/47,885 rooms at the end of Q4. These statistics collectively reflect a vibrant and expanding hotel construction landscape in China.

Upscale and upper midscale projects dominate China’s hotel construction pipeline at Q4, claiming more than 50% of the total projects and rooms in the country’s pipeline, reaching unprecedented highs in both project and rooms counts. The upscale segment increased 13% YOY by projects and 7% YOY by rooms to stand at 879 projects/202,831 rooms. Similarly, the upper midscale segment maintained its prominence with 1,253 projects/197,122 rooms, a 12% YOY increase in projects and 7% YOY increase in rooms.

Chengdu Dominates China’s Hotel Construction Boom in Q4 with 148 Projects and 29,575 Rooms

Chengdu leads China’s hotel construction pipeline with the greatest number of projects at Q4 with 148 projects/29,575 rooms. Next is Shanghai with 121 projects/23,148 rooms, followed by Guangzhou with 110 projects/22,938 rooms, then Hangzhou with 96 projects/19,945 rooms, and Xi’an with 88 projects/15,565 rooms.

LE’s Database Platform is Now Available in Seven Languages

Lodging Econometrics (LE), the leading provider of global lodging real estate intelligence, announces the launch of multi-language capabilities within its renowned Business Development Database of hotel development intelligence & decision-maker contacts. This groundbreaking update is poised to revolutionize the user experience, offering access to and understanding of crucial hotel development data in a user’s preferred language, thereby allowing clients to discover more new business opportunities.

Key Highlights of the Update:

Comprehensive Localization: This new premium update introduces a specialized localization dropdown selector, enabling clients to localize all elements within LE’s database, except for letterheads, to Simplified Chinese, Spanish, Portuguese, French, German, Italian, or Hindi. This enhancement ensures that every aspect of the user interface is tailored to resonate with local audiences, fostering deeper engagement and understanding.

Future-Ready Solutions: In an era marked by increasing globalization, LE’s enhanced multi-language localization capabilities empower clients to adapt and thrive in diverse markets, providing clients with the ability to navigate and utilize essential hotel development data in their preferred language, breaking down language barriers, and enhancing accessibility and understanding. It allows for seamless participation in international collaborations, expanding market presence with greater ease. This, in turn, opens more opportunities for smoother communication and collaboration in the global hotel development landscape, ultimately supporting business growth and success.

“We are incredibly excited to introduce these new localization capabilities to our esteemed clients,” said Timothy Ford, President at Lodging Econometrics. “This update underscores our commitment to innovation and client-centricity. By offering comprehensive localization tools, LE is committed to supporting multi-national and global clients and expanding our powerful and sophisticated platform, all while making our database platform easier to use across entire organizations. The result for our current and future clients is to provide them with a new competitive edge, global empowerment, and sustainable growth.”