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.
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 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.
Source: STR GlobalJulie Dai, Director of Horwath HTL China said "What we see is that 2011 was a very strong year in regards to the underlying room night demand growth across the major hotel markets in China. Even Shanghai, with its post Expo rooms hangover managed to scrape into positive territory and to have 11 markets in excess of 10% growth is impressive"
About Horwath HTL
Horwath HTL (Hotels Tourism and Leisure) is one of the world's pre-eminent consulting specialists in the hotel, tourism and leisure industries, providing unequalled experience and expertise for client projects around the world through a combination of detailed local knowledge and international understanding. Horwath HTL is currently the world's largest consulting organisation specialised in hospitality, with 50 offices in 39 countries. If you have any questions, please contact James Chappell, Global Marketing Director at jchappell@horwathhtl.com or Julie Dai at jdai@horwathhtl.com
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