According to data from Meadin (MTA), in 2022, it is estimated that the number of hotels in mainland China’s first-tier cities is over 38,000, of which, Beijing, Shanghai and Guangzhou have around 10,000 hotels, while Shenzhen’s total is around 7,400.
With regard to recent new hotel supply, the COVID-19 epidemic in 2020 has certainly impacted on volume numbers for each of the first-tier city markets. Having said this, the number of hotels opened in these markets is still considerable.
Looking at overall hotel market occupancy, average room rates and RevPAR change in the first-tier city markets between January-July 2019 and January-July 2022, a general market softening was witnessed. According to STR, all three market performance indicators across all first-tier cities dipped on the pre-pandemic registered figures.
