Hotel construction boom in the BRICS countries. Wednesday, 20th February 2013 Source : TOPHOTELPROJECTS
It is known that the economy in the BRICS states, respectively Brazil, Russia, India, China and South Africa, partially shows significant growth rates and China leads with more than 520 hotel construction projects.
By consequence the hotel construction market also continuous booming. With currently 537 registered hotel construction projects China is in the forefront, followed by India with 295 new hotels. This data has been revealed by the TOPHOTELANALYTICS hotel market survey, published by the TOPHOTELPROJECTS GmbH, the worldwide leading provider of global b2b hotel data.
Particularly large hotels are under construction in the Middle Kingdom Ė more than 320 of the 537 hotel construction projects will feature more than 250 rooms. This explains the vast number of approximately 150,000 new hotel rooms which will enter the hotel market during the coming years.
With an average hotel occupancy rate of 61 percent, the tourism will have to perform, similar growth rates as during the past years in order to an excessive supply of (vacant) hotel beds. According to TOPHOTELANALYTICS, there are currently 2,900 operating up-market hotels available.
Tourism growth is primarily originated by foreign tourists: 294 million overnight stays were counted in 2011. Approximately 106 million hotel guests travel to and within China every year - 70 million come from abroad.
The tourism sector in India also experiences continued growth. The 1,000 existing first class and luxury hotels will be supplemented by 295 new properties and 48,000 hotel rooms.
According to TOPHOTELANALYTICS, 116 new top hotels with 37,000 rooms will open their doors in Russia during the forthcoming years. So far 932 top hotels are currently under in operation. In Sochi alone, the city hosting the 22nd Winter Olympics from 7th until the 23rd February 2014, 17 new hotels and resorts with 4,800 rooms will be put into operation.
On the contrary Brazil, hosting the FIFA World Cup in 2014 and the Summer Olympics in 2016, will open not more than 20 new top hotels (with 3,600 rooms). According to the TOPHOTELANALYTICS hotel market surveys in South Africa eleven new first class and luxury hotels with 2,400 rooms will enter the market.
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