China will overtake the USA by number of hotel rooms by 2025.
The world’s biggest hotel company by number of rooms has announced that it will double its portfolio in Greater China over the next five years. Intercontinental Hotels Group says that markets such as India and the Middle East are also high priority for development in the near term. But most importantly the group is stressing China.
It cites research that reveals that by 2025 China will overtake the US in terms of number of hotel rooms. Forecasts also state that by 2030 half of all hotels in China will be branded, a rapid increase from the current 10%. Over the coming five years, the number of branded properties in China under IHG, including the brands Intercontinental, Crowne Plaza, Holiday Inn, Holiday Inn Express – plus the “boutique” Hotel Indigo brand, whose first property opens in Shanghai this week – will rise from 137 today to 286.
Intercontinental Hotels Group anticipates that it will increase the number of its hotel rooms in China by an astonishing eight times over the next 20 years. In the Middle East, meanwhile, the hotel market is being driven by the growth of airlines such as Emirates, Etihad and Qatar. IHG plans a portfolio there of 190 hotels by 2020, up from 38 today. And in India, IHG plans to triple its portfolio within three years.