The continued growth in Chinese outbound and domestic travel will dramatically change the global hospitality industry, according to a World Travel Market (http://www.wtmlondon.com) report released on Monday (November 7),
According to WTM's Global Trends Report 2011, Chinese tourists will spend US$57 billion on accommodation this year, third in the world behind the US and Germany. By 2015, the Chinese will be number two, with their spending up 17% to 67 billion dollars.
COMMENT: The report, produced in association with Euro-monitor International, said that some global hotel chains are already partnering with Chinese businesses to get a foothold in the domestic market, while others are customizing their offer to cater to Chinese tastes.
Spanish hotel giants Sol Melia and NH Hotels have both taken the partnership approach as well. Sol Melia has partnered with Jin Jiang Hotels, while Chinese travel group HNA bought 20% of NH Hotels to help the Spanish chain enter the Chinese market.
A pdf copy of Global Trends Report 2011 can be downloaded from WTM's website.