The number of beds in hotels in China stood at 801.24 ten thousand units in 2023. Over the last two years, 2022 experienced a slight decline with a year-on-year decrease of 2.87%, while 2023 saw a positive growth of 3.62%. Looking at the average growth over the past five years (CAGR), there was an increase of 4.68% annually.
From 2013 to 2023, the hotel bed capacity in China generally exhibited growth with some fluctuations. Initially, there was a notable boost in bed numbers, especially between 2016 and 2019 when the annual growth rate was fairly consistent. However, 2022 witnessed a slight regression which was quickly countered in the following year.
Looking ahead, the forecast indicates continued growth, albeit at a more moderate CAGR of 2.44% for the next five years up to 2028, resulting in an overall increase of 12.82% during this period.
Future trends to watch include potential impacts of global tourism recovery post-pandemic, domestic tourism policies, and emerging trends in hospitality such as the expansion of boutique hotels and alternative lodging options like serviced apartments and short-term rentals.