Exclusive Feature: The Chinese New Year celebrations have begun and if recent reports are any indication, this Year of the Horse is going to be a lucrative one for the travel industry.

In a recent survey from Ctrip of more than 3,000 Chinese travelers, more than half the respondents stated that they plan to take three or more trips this year, with 11 percent saying they're planning five or more.

But lucky for the hospitality industry, Chinese tourists are not just traveling more -they're spending more in 2014. More than half of the participants (56 percent) said their travel budget is going to increase this year, while only 39 percent said it will stay the same.

In comparison, the U.S. Commerce Department reported that 1.5 million Chinese tourists visited the U.S. in 2012 and spent more than $8.8 billion. According to an ABC News report, that spending number is executed to quintuple by 2020.

In an effort to grab a hold of the anticipated spending, several U.S. cities are hosting Chinese New Year celebrations, and hotels and restaurants are even getting into the festivities.

The Peninsula Hotels in Beverly Hills, Chicago and New York are offering a Chinese New Year package for the month of February that includes an array of amenities geared to the affluent Asian traveler.

In addition, the hotels are planning to draft special entertainment and culinary menu options that cater to Chinese tourists.

In Las Vegas, the glamorous Wynn hotel put three 800-pound Tang Dynasty horse sculptures on display to commemorate the Year of the Horse, and will host dim sum buffets, firecracker shows and plenty of parades in the horse's honor.

In Boston and New York, storefronts are displaying Year of the Horse emblems, showcasing their luxury offerings to Chinese shoppers, who often shop in groups and buy in bulk to bring back to Asia.

As Chinese New Year festivities wind down, don't expect to see hotels and restaurants lessen their attempt to lure Chinese travelers. The New Year is one of the biggest holidays in China and - regardless of where they celebrate - Chinese tourists are sure to feel at home.

This is strictly an exclusive feature, reprints of this article in any shape or form without prior written approval from 4Hoteliers.com is not permitted.

Melanie Nayer is a hotel reviewer and expert on luxury travel around the world. She has covered all aspects of hotels including corporate restructures, re-branding initiatives, historical aspects and the best of the best in luxury hotels around the world.

Melanie writes a weekly exclusive column for 4Hoteliers.com