Source: STR Global
Four of the top markets in China posted a growth in revenues of over 30% in 2011 according to Horwath HTL, the world oldest and largest hospitality consulting network, during a presentation at the 8th annual China Hotel Development and Financing Conference in Beijing.
The four markets that achieved 30% or more were Xiamen, Xian, Chongqing and Chengdu, with Chengdu having the highest growth at an impressive 37% while Chongqing recorded 34% growth.
The next six hotel markets all recorded between 20 to 30% growth in room revenue in 2011, with Sanya, Guangzhou and Tianjin at the top of this group recording around 28% growth. Beijing is at the lowest end of this group with 22% growth.
Shanghai was the only market to record a decline in room revenues in 2011. With basically zero demand growth and the loss of premium Expo room rates, Shanghai was always likely to record a decline in the volume of room revenues. The next 4 lowest performing markets Shenzhen, Nanjing, Hangzhou and Dalian all recorded in excess of 10% growth in room revenue volume, with Shenzhen and Nanjing recording very close to 20% growth.
Damien Little Director of Horwath HTL China said “The growth numbers we have seen are truly impressive and indicative of an emerging market in a significant growth phase.? However, as many of us are aware, this has not necessarily translated into improved performance at the individual hotel level. The issues of wage inflation, supply concerns are all significant challenges to overcome, but having a strong top line performance will give confidence that these can be addressed.”
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