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[Travel News]: China adds 3,375 projects, 639,811 rooms in 2020: Lodging Econometrics

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The following is the [Travel News]: China adds 3,375 projects, 639,811 rooms in 2020: Lodging Econometrics from [Travel Trends Today] recommended by TheTourAttraction.com:

China currently has 2,293 projects/413,874 rooms under construction, an increase of 3% by projects and 2% by rooms over last quarter’s totals.

China’s total hotel construction pipeline dipped slightly at the end of Q4 2020 to stand at 3,375 projects/639,811 rooms, down 4% by projects and 1% by rooms year-over-year (YOY).

This is the second quarter off the peak reached in Q2 ’20, where construction pipeline totals stood at 3,574 projects/647,704 rooms. However, due to China’s robust manufacturing and export industry, their GDP has remained strong throughout the pandemic, as has their construction industry.

China currently has 2,293 projects/413,874 rooms under construction, an increase of 3% by projects and 2% by rooms over last quarter’s totals. Projects scheduled to start construction in the next 12 months stand at 641 projects/116,884. Projects in the early planning stage stand at 441 projects/109,053 rooms, down an incremental 1% YOY.

The country opened 910 hotels/114,502 rooms in 2020. In Q4 2020, China saw 176 new hotels accounting for 25,442 rooms open. LE is forecasting another 840 projects/131,197 rooms to open in 2021 and 994 projects/169,716 rooms to open in 2022.

Chengdu leads China’s hotel construction pipeline with 133 projects/27,304 rooms. Next is Shanghai at 130 projects/25,215 rooms, followed by Guangzhou with 125 projects/25,139 rooms, then Wuhan with 103 projects/13,890 rooms and Xi’an with 89 projects/16,006 rooms. 

Franchise companies topping China’s construction pipeline are Hilton Worldwide with project and room record totals of 551 projects/109,254 rooms. InterContinental Hotels Group (IHG), is also recording all-time high project counts with 425 projects/90,630 rooms, and Marriott International, is setting record high project and room counts as well, with 381 projects/104,485 rooms. Next is JinJiang Holdings with 249 projects/24,865 rooms and AccorHotels with 196 projects/34,263 rooms.  

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