2008 Beijing Olympics are infusing in the city hopes of record revenue generation by its hotels during the games. The city is expecting a huge influx of tourists to witness the event. Thus, the occupancy rates are also anticipated to soar high during the games. The hotel industry has already started the preparations to improve the quality of service.
Deputy director of Beijing Municipal Bureau of Tourism, Xiong Yumai, said that the hospitality industry in Beijing has seen a rapid growth in last two years and the same pace will continue during and after the Olympics. Occupancy rates in Beijing are already high. Five-star hotels, even if they charge $150 per day, are registering highest daily revenue. High-end hotels have an occupancy rate of 75.3%.
Vice chairman of China Tourism Hotel Association, Stephen C.T. Hsu said that the growth of market is positive and promising. He added that as the 2008 Olympics are approaching, more domestic and international tourists would come to Beijing. The city is expecting around 500,000 foreign and 1 million domestic tourists in 2008.
RNCOS'recent market research report "China Tourism Industry: New Opportunities for Growth (2007)" states that the Chinese government will invest excessively in the infrastructure development before the Olympic games. The government is increasing the number of rooms from 90,000 to around 130,000 in star-graded hotels for the games only.
The research report also addresses the issues and facts that are critical to your success:
- Rising trends in the Tourism sector in China
- Future prospects of the Tourism market in China
- Key players in the China Tourism Industry
- Opportunities for the Tourism market
- Challenges for the industry
- Effect of other economic factors on market
The report provides extensive research and objective analysis on the Tourism Sector in China. This report has been written to help clients in analyzing the opportunities critical to the growth of Tourism market in China. Detailed data and analysis will help the investors to comprehend the rapidly changing dynamics of the Tourism industry
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