DUBLIN, Ireland--(Business Wire)--
Research and Markets
(http://www.researchandmarkets.com/reports/c92054) has announced the
addition of "China Budget Hotel Report, 2007-2008" to their offering.
By the end of 2007, China has had 1,689 budget hotels and
meanwhile, the number of guest rooms has reached 180,000. The main
budget hotel chain brands are as the followings, Star of Jinjiang,
Home Inn, Motel, Super 8, Sunny Youth Hotel, GreenTree Inn, 7 Days,
Vienna, and Joy Inn. Among which, Home Inn went public in NASDAQ in
Oct., 2006.
In 2007, the domestic brands still dominated the market. The top
three not only further strengthened their leading positions, but also
showed their good potential for further development. China's budget
hotels have a short history and the average age had only five years
and two months at the end of 2007.
Growth of China Budget Hotels, 2000-2007 (Unit: 10,000 rooms)
Among the large cities in China, Shanghai has 286 hotels, ranking
the first in terms of the number of budget hotels. Jiangsu Province,
close to Shanghai, has 182 budget hotels, making it the second place
by surpassing Beijing that has 156 hotels. Guangdong Province and
Zhejiang Province ranks the fourth and fifth places respectively with
146 hotels and 126 hotels.
According to the statistics, Beijing, capital of China, has had
156 budget hotels by the end of 2007 with the average price standing
at about CNY249.53.
Structure of Budget Hotel Market in Beijing, 2007
Among the budget hotels in Beijing, Home Inn with 37 chain hotels
ranks the first place in terms of the number of hotel, accounting for
23.72% of the total market, followed by 7 Days with 14 chain hotels,
amounting to 8.97%. Star of Yunlong, a regional brand, ranks the third
place by 12 chain hotels, accounting for 7.69% of the total market,
followed by Star of Shanghai, Super 8 and Hualijiahe, accounting for
7.05%, 7.05% and 6.41% respectively.
China had only 23 budget hotels with a total of 3,236 guest rooms
in 200 and had 1,698 hotels with a total of 88,788 guest rooms in
2007, representing an average annual growth rate of 84.88% in budget
hotel. In the period 2008-2010, the growth of China's budget hotels
will slow down to 41.99% compared with 87.42% posted in 2007. The
following three years will witness the consolidation of budget hotels
in China. The increasingly fierce market competition will raise
service quality and management level, and meanwhile the market will be
consolidated widely by mergers and acquisitions.
Companies Mentioned:
-Home Inns
-JinJiang Inn
-GDH Inn
-Motel 168 Chain Hotel
-UTELS
-Super 8 Hotel
-7 Days Inn Group
-Zhongzhou Express Hotel
-Hanting Hotel
-Xinyu Inn
For more information, visit
http://www.researchandmarkets.com/reports/c92054
Research and Markets
Laura Wood, Senior Manager
Fax: +353 1 4100 980
press@researchandmarkets.com
Copyright Business Wire 2008
