China's Hotel Construction Pipeline Hits Record High
Photo Credit: Exterior of the Hampton Apartments by Hilton Chengdu Chunxi Road Hilton
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According to the latest China Construction pipeline Trend Report from Lodging Econometrics, China’s hotel construction pipeline ended 2023 with record-breaking project and room counts
The Macao Government Tourism Office projected 960,000 visitors for the 8 day Chinese New Year holiday period, a number we said was conservative. As of February 14th, in five days, Macau had received 898,665 tourists with the hotel occupancy rate reaching 97% for those days. It does not look like Macau will break the single day record of visitor arrivals, 226,326 on February 7, 2019 but the third day of this week’s holiday is now the second highest ever, with February 12, 2024 registering 217,448 tourists.
According to the latest China Construction pipeline Trend Report from Lodging Econometrics, China’s hotel construction pipeline ended 2023 with record-breaking project and room counts with 3,788 projects and 691,772 rooms. Here are the highlights:
China Construction Pipeline Overview Stage Projects Rooms Currently Under Construction 2,644