hotel destinations china€¦ · south korea and hong kong. notably, the number of tourists from...

Hotels & Hospitality Group | June 2014

Hotel Destinations China

Welcome to the inaugural edition of our Hotel Destinations China publication, a biannual overview providing a snapshot of key hotel markets within Mainland China.

As you browse through this guide, you will find a selection of notable hotel trends, recent transactions, upcoming new projects and a summary of key market statistics for each destination. We trust you will find this publication relevant, concise and insightful.

Enjoy the read and look out for the next edition in 2H 2014!

Scott HetheringtonChief Executive Officer, AsiaJLL Hotels & Hospitality Group

Corinna TohExecutive Vice President, AsiaJLL Hotels & Hospitality Group

03Hotel Destinations China

Contents

13Contributors

Quick Facts

City Profiles

04 Beijing05 Chengdu06 Guangzhou07 Nanjing08 Sanya09 Shanghai10 Tianjin11 Wuhan

04

12

04 Hotel Destinations China

H2 2013 HIGHLIGHTS

BeijingBeijing is the nation’s capital as well as the political and cultural heart of Mainland China. Its history dates back three millennia, making it a key leisure destination with a strong cultural offering. Beijing is also a strong conference market, ranking as one of the top Meetings, Incentives, Conventions and Exhibitions (MICE) destinations in the world. The growth of the city’s hotel industry hasn’t stopped since the 2008 Olympic Games. By 2015 the city will have opened more than 14 subway lines. In addition, authorities announced 126 new projects last year that will see the further upgrading of this booming urban landscape.

Tourism Demand Supply Outlook

International visitor arrivals showed adecrease of 10.1% to 4.5 million touristsin 2013. Positive annual growth has onlybeen recorded in the months of January

and October 2013.

The composition of major sourcemarkets of international visitors has

recorded no change in recent months,with USA ranking first, followed by

South Korea and Hong Kong. Notably,the number of tourists from Japan hasdeclined remarkably by 43.1%, due tothe intense political relationship with

Mainland China in recent times.

New supply over the second half of 2013 has been minimal. Four new hotels

opened in the first quarter of 2014, totalling 1,208 rooms, and a further 12

hotels are projected to open in the short term, adding another 3,026 rooms over the balance of 2014. According to our research, approximately 26 new hotel projects have been proposed, which

could potentially result in an additional 7,500 rooms by 2016.

Beijing tourism market is forecasted toimprove over the next few years dueto rising domestic tourism demandand also a greater number of MICE

and major international conferences,such as APEC and the Global Software

Development conference, bringingmore international MICE

tourists to Beijing.

There were no hotel transactions during H2 2013

NOTABLE HOTEL DEALS

Crowne Plaza Beijing Lido Beijing Marriott Hotel CentralWanda Realm BeijingHoliday Inn Express Beijing YizhuangWaldorf Astoria Beijing

UPCOMING HOTELS

Note: Beijing Hotels refers to 5-Star only.Source: STR Global (YTD Mar 2014), Real Capital Analytics, Beijing Tourism Bureau, JLL.y-o-y – year-on-year, ADR - Average daily rate, RevPAR - Revenue per available room.

NEW HOTELS

4.5 millionInternational Visitor

Arrivals

619 roomsNumber of New Rooms Revenue per Available

Room (RevPAR)

RMB

555RMB

939Average Daily

Rate (ADR)

QUICK FACTS

59.1%Occupancy

New World Hotel Beijing Chongwenmen

Holiday Inn Beijing Yanqing Resort

rooms309

rooms310

(2013) (H2 2013)


ChengduChengdu, the capital city of Sichuan province, is an important economic, transportation, and communication centre in western China. With a long history, heritage, culinary and tea culture, Chengdu attracts an increasing share of domestic and international leisure tourists. As one of the cities with fastest economic growth rate in Mainland China, Chengdu was chosen as a top investment destination according to the American Chamber of Commerce. Chengdu continues to be identified as one of the fastest growing cities. Chengdu gained the world’s attention after holding the Fortune Forum in 2013. In addition, the city was named among the top five most liveable cities in Mainland China by a recent countrywide survey.

H2 2013 HIGHLIGHTS


In 2013, total visitor arrivals rose to 155million tourists, a 26% y-o-y increase.International visitor arrivals recorded

an annual growth rate of 10.7%,reaching 1.7 million. Corporate demandis increasing at a substantial pace witha number of international organisationsopening offices, branches, or operationcentres, as well as the wider growth inMeetings, Incentives, Conventions and

Exhibitions (MICE).

Tourism strategies have been a focal point of the city’s overall development

plan, as Chengdu was named as one of the nation’s first cities for

comprehensive tourism reforms. The government is continually working to

improve tourism management, policies and services to meet the growth in

inbound visitors.

There has been a significant increase in new hotel developments to meet the

growing number of inbound tourists. Approximately 23 new hotel projects

are proposed, which could potentially result in an additional 7,212 rooms over

the short to medium term.

Chengdu’s strong economic development is anticipated to

draw the attention of corporations, investors, tourists and international hotel operators. Recently, more than 70 new international air routes have commenced to Chengdu. As a result,

the tourism market is estimated to grow in 2014 both in corporate and leisure

demand.


InterContinental Global Centre Palm Springs Fairmont Hotel Chengdu Howard Johnson Youwei ChengduEvason Resort Hotel Dujiangyan Six SensesDiaoyutai Hotel Chengdu

NOTABLE HOTEL DEALS

UPCOMING HOTELS

Note: Chengdu Hotels refers to 5-star only.Source: STR Global (YTD Mar 2014), National Tourism Bureau, JLL.y-o-y – year-on-year, ADR - Average daily rate, RevPAR - Revenue per available room.

NEW HOTELS


Arrivals

1,890 roomsNumber of New Rooms Revenue per Available

Room (RevPAR)

RMB

422RMB

895Average Daily

Rate (ADR)

QUICK FACTS

47.2%Occupancy

(2013) (H2 2013)

The Ritz-Carlton, Chengdu

Crowne Plaza Gaoxin

Howard Johnson Three Gorges Plaza

Chengdu

Mercure Chengdu

Felton Gloria Grand Hotel Chengdu

M Hotel Chengdu

rooms290

rooms361rooms rooms

353rooms290

rooms196

rooms348

rooms342


rooms500

rooms320

Langham Place, EDZ, Guangzhou

Langham Place, Pazhou

A key first-tier city of Mainland China, Guangzhou is a national transportation hub and trading port. It is the third largest city nationally after Beijing and Shanghai, with a population of more than 12 million. Guangzhou is the main manufacturing hub of the Pearl River Delta - one of Mainland China’s leading commercial and manufacturing regions, and has several industrial zones; hence corporate tourism demand is robust in this city. Guangzhou also offers a wide variety of tourist attractions, such as museums and historical landmarks which attract both international and domestic tourists.

Guangzhou

H2 2013 HIGHLIGHTS


In 2013, tourist arrivals to Guangzhou were recorded at 50.4 million, growing

by 4.8% y-o-y. International tourist arrivals decrease by 3.0% to 7.7 million and domestic tourist arrivals increased

at 6.4% to 42.7 million.

Tourists from Hong Kong form the majority of international arrivals,

accounting for more than half of total arrivals based on data released in

2012. Guangzhou is a gateway to Hong Kong and Macau. Corporate demand

to Guangzhou was traditionally a major component of inbound tourism but in

recent years, shopping, entertainment and new resorts have attracted more

leisure visitors.

Seven hotels are projected to enter the market in 2014, adding 1,915

rooms to the city. The city’s continued bilateral business ties with global

cities will continue to see the growth of inbound corporate demand, thus

supporting the increase in new supply.

The Guangzhou tourism market is anticipated to grow. Domestic visitor

arrivals are likely to increase asGuangzhou will hold 26 international

and national sports events in thecoming years. Guangzhou plans to

expand its city area from 2014 onwards.

NEW HOTELS

Note: Guangzhou Hotels refers to 5-star only.Source: STR Global (YTD Mar 2014), Guangzhou Statistics Bureau, JLL.y-o-y – year-on-year, ADR - Average daily rate, RevPAR - Revenue per available room.


Room (RevPAR)

RMB

577RMB

883Average Daily

Rate (ADR)

QUICK FACTS

65.4%Occupancy


Arrivals

(2013)


NOTABLE HOTEL DEALS

DoubleTree by Hilton GuangzhouAloft Guangzhou, University Park Holiday Inn Guangzhou Science CityPark Hyatt Guangzhou

UPCOMING HOTELS(H2 2013)


As the capital city of Jiangsu province in eastern China, Nanjing is a prominent city with a strong history located on the south bank of the Yangtze River. As one of the four ancient cities in Mainland China, Nanjing is commonly viewed as a “city of culture” and leisure destination for tourists. Nanjing was formally the capital city of several key dynasties in ancient Chinese history. Nanjing is also known for its lush green parks, natural scenic lakes and favourable climate, attracting international tourists throughout the year.

Nanjing

H2 2013 HIGHLIGHTS


In 2013, domestic visitor arrivals recorded a moderate increase of 9.1% to 86.7 million, however, international

visitor arrivals encountered a decline of 6.6% to 0.5 million. Nanjing’s LukouInternational Airport is about 35 km

from the city centre and serves inbound international flights from Japan, Korea,

Thailand, Malaysia, Singapore and Germany.

Leisure tourists travel to Nanjing for its history, relics, landmarks and cultural heritage. Since Nanjing has

a long history of manufacturing and is among the ‘top five’ economic cities in Mainland China with a growing tertiary industry, corporate demand to Nanjing

has the potential to realise strong growth in future years.

New supply over H2 2013 was minimal, however, there will be six new major hotel openings adding approximately

2,439 rooms in 2014. Based on our research, a further five hotels are

proposed to open between 2015 and 2017, totalling 1,444 rooms.

Nanjing’s tourism industry has experienced lower inbound tourist

demand due to the lack of local organisations promoting the city to

foreign tour groups. More recently, the government has taken measures to

promote tourism, along with upcoming international events, such as the Youth

Olympic Games in 2014.

NEW HOTELS

Note: Nanjing Hotels refers to 5-Star only.Source: Nanjing Tourism Bureau, JLL.y-o-y – year-on-year, ADR - Average daily rate, RevPAR - Revenue per available room.


Room (RevPAR)

RMB

479RMB

716 Average Daily

Rate (ADR)

QUICK FACTS

67.0%Occupancy


Arrivals

(2013)

371 302rooms423rooms

Fairmont Nanjing Wanda Realm Nanjing Jiangning

Crowne Plaza Nanjing Jiangning

roomsrooms


Shangri-La Hotel NanjingGrand Hyatt NanjingHoward Johnson Plaza Tangshan Angsana Tangshan

NOTABLE HOTEL DEALS

UPCOMING HOTELS(H2 2013) (2013)

(2013) (2013)


SanyaSanya, located in the southernmost tip of Mainland China, is renowned for its tropical climate and beautiful scenery. Sanya is one of the three prefecture-level cities of Hainan. In recent years, the city has developed into a popular tourist destination attracting leisure visitors from all over the world. There has been a significant increase in hotel developments with a strong pipeline of new supply set to enter the accommodation market over the medium term. Air links are served by Sanya Phoenix International Airport and the Hainan East Ring Intercity Rail operates along the east coast of Hainan to connect Sanya and Haikou.

Note: Sanya Hotels refers to 5-star only.Source: STR Global (YTD Mar 2014), Sanya Statistics Bureau, JLL.y-o-y – year-on-year, ADR - Average daily rate, RevPAR - Revenue per available room.

NEW HOTELS

International visitor arrivals reached0.5 million in 2013, recording a slightdecline of 0.3% from 2012. Domesticvisitor arrivals experienced a 12%

increase as at YTD Oct 2013 accordingto the Sanya Statistics Bureau.

Recently, an increasing number ofMICE events have taken

place, boosting corporate travel.

Sanya, as a seaside location, is essentially a destination for domestic

leisure tourism and continues to compete with regional resort locations

such as Thailand and Bali. Inbound Russian tourism has increased recently

with the availability of high quality accommodation options.

A substantial pipeline of new hotel development exists in Sanya. According to our research, there are 24 new hotel

projects scheduled to open in 2014, adding an estimated 8,361 rooms to the

accommodation market.

Tourism in Sanya is forecast to record steady growth from domestic travellers

whilst international visitation will be boosted by MICE events, such as the

Global Travel and Tourism Summit which was held in April 2014.

H2 2013 HIGHLIGHTS


rooms350

rooms299

rooms480

InterContinental Sanya Haitang Bay Resort

Raffles Resort Sanya Qingshui Bay - Phase I

The Westin Sanya Haitang Bay Resort


Arrivals


Room (RevPAR)

RMB

711RMB

1,045Average Daily

Rate (ADR)

QUICK FACTS

68.1%Occupancy


NOTABLE HOTEL DEALS

Fairmont Haitang Bay Resort Outrigger Qingshui Bay ResortHilton Hainan Clearwater Bay ResortWyndham SanyaGrand Hyatt Shenzhou Peninsula

UPCOMING HOTELS(2013) (H2 2013)


ShanghaiShanghai is one of the largest cities in Mainland China, a global financial centre and a major transport hub with the world’s busiest container port. Shanghai has a rich collection of buildings and structures of various architectural styles. The Bund, located by the bank of the Huangpu River, contains early 20th-century development. The Pudong district of Shanghai displays several skyscrapers, many of which are ranked among the tallest in the world. Shanghai’s infrastructure has been upgraded over the past few years with new roads, bridges, tunnels and airport terminals. The city enjoys its fair share of both corporate and leisure tourism.

Note: Shanghai Hotels refers to 5-star only.Source: STR Global (YTD Mar 2014), Real Capital Analytics. Shanghai Municipal Tourism Administration, JLL.y-o-y – year-on-year, ADR - Average daily rate, RevPAR - Revenue per available room.

NEW HOTELS

According to the Shanghai MunicipalTourism Administration, international

visitor arrivals to Shanghai in 2013reached 7.6 million, which was 5.4% below 2012. Tourism receipts from

the popular 7-day National Day GoldenWeek in October 2013 reached RMB 7.5

billion, bringing a 21.4% y-o-yincrease from the previous year.

Shanghai’s key source markets remain unchanged: Japanese tourists rank

first, followed by South Korea and the USA. Leisure, corporate and Meetings, Incentives, Conventions and Exhibitions

(MICE) demand to Shanghai remains strong. However, Shanghai hotels

continue to face challenges due to the government austerity measures.

There were three hotel openings in H22013. There will be a significant numberof rooms added to the Shanghai hotelmarket this year. Four hotels openedduring Q1 2014, totalling 1,148 rooms.

Our research shows a pipeline of morethan 15 hotels (over 4,600 rooms) which

are likely to enter the market in the short term.

An increase in hotel development has been noted prior to the completion of Shanghai Disney Resort. Corporate

demand to Shanghai will continue to be promoted on the back of the Free Trade Zone and its major financial hub status.

H2 2013 HIGHLIGHTS



Arrivals


Room (RevPAR)

RMB

590RMB

1,014Average Daily

Rate (ADR)

QUICK FACTS

58.2%Occupancy

(2013)

Marriott Executive Apartments – RMB 2,386 millShanghai JC Mandarin Hotel – RMB 2,118 millGalaxy Hotel – RMB 1,263 mill3961 Caoan Rd – RMB 59 millRegal Jinfeng Hotel – RMB 600 mill

Sheraton Jiading HotelPullman Shanghai SouthShanghai Marriott Hotel Parkview Crowne Plaza Shanghai Noah SquareHyatt Regency Shanghai Chongming

NOTABLE HOTEL DEALS

UPCOMING HOTELS

rooms520

rooms686rooms

Jing An Shangri-La Pudong Kempinski Hotel (Rebranded)

361

Holiday Inn Shanghai Hongqiao

rooms

(H2 2013)


TianjinLocated in northern China, Tianjin - one of the four direct-controlled municipalities of Mainland China, is a leader in transportation, shipping and logistics. As an important industrial city from the 19th century, Tianjin has a well-developed manufacturing sector which continues to boost the city’s local economy. Furthermore, Tianjin is the permanent host city of the Summer Davos Forum. Hence, corporate demand to Tianjin accounts for a major component of overall inbound visitors. Tianjin, once home to foreign concessions in the late Qing Dynasty and early Kuomintang era, is also famous for its folk arts, cultural relics and architecture.

Note: Tianjin Hotels refers to 5-star only.Source: Tianjin Tourism Bureau, JLL.y-o-y – year-on-year, ADR - Average daily rate, RevPAR - Revenue per available room.

NEW HOTELS

International visitor arrivals recorded a strong increase in 2013, reaching 2.6 million, (up 13% from 2012 and doubling

that of 2007). The dense network of ex-concession streets south and west

of the central train station, and south of the Hai River, now constitute the areas

of interest to leisure visitors.

The Davos Forum boosts corporate demand to Tianjin significantly. In 2009,

at the height of the global financial crisis, growth in tourist arrivals still

achieved 15.6% due to the large inflow of corporate demand brought by the forum. Since Tianjin is located near

Beijing, the number of tourist arrivals has a strong correlation with potential to increase in the medium to long term.

In 2014, 12 major hotels are set to open offering 4,789 rooms to the Tianjin hotel

market. There are another 16 hotels proposed to open from 2015 onwards,

totalling 4,844 rooms.

Meetings, Incentives, Conventions and Exhibitions (MICE) tourism is likely

to improve due to the increase in participants who come for the annual

Davos Forum. Additionally, several leisure tourism festivals aimed at

promoting visits to Tianjin will be held in 2014, potentially increasing tourism

arrivals in the long term.

H2 2013 HIGHLIGHTS


rooms280

rooms297

The Ritz-Carlton, Tianjin

Wanda Vista Tianjin


Arrivals


Room (RevPAR)

RMB

296RMB

541Average Daily

Rate (ADR)

QUICK FACTS

52.0%Occupancy


NOTABLE HOTEL DEALS

Hilton Tianjin BinhaiWyndham Tianjin Binhai Hyatt Regency TianjinDoubleTree by Hilton

UPCOMING HOTELS(2013) (H2 2013) (2012)

(2012) (2012)


WuhanThe most populated city in central China, Wuhan, is recognised as a political, economic, financial and cultural centre of central China. Located along the Yangtze River, Wuhan is a major transportation hub. With a 3,500-year long history, Wuhan is one of the most ancient and civilized metropolitan cities in Mainland China, older than Beijing, Xi’an and Nanjing. Its major industries include optic-electronic, automobile manufacturing, steel manufacturing, new pharmaceutical sector, biology engineering, new materials industry and environmental protection.

Note: Wuhan Hotels refers to 5-Star Hotels.Source: Wuhan Tourism Bureau, JLL.y-o-y – year-on-year, ADR - Average daily rate, RevPAR - Revenue per available room.

NEW HOTELS

Based on latest available data, in 2013, international visitor arrivals rose to 1.6 million tourists, recording a 7.0% y-o-y.The Yellow Crane Tower is one of the popular tourist attractions in Wuhan. With Wuhan’s strong economic and manufacturing base, the majority of

inbound visitors are business travellers.

Wuhan held the International Tourism Festival in 2013, drawing a large number of visitors and promoting local tourism. Wuhan is attracting a growing share of foreign investment as well as overseas-

funded enterprises.

Wuhan’s hotel market has witnessed an increasing share of new supply entering

the market to cater to corporate travellers. In 2013, 1,748 rooms were

added to the hotel market. In 2014, 4,135 new rooms are expected to complete.

The Wuhan tourism market isanticipated to grow over the next fewyears, underpinned by a strengtheningcorporate sector. With recent tourism

promotions in place to promote Wuhanto the wider Chinese domestic leisure

market, as well as a location forinternational businesses to conduct

operations, visitor arrivals are likely to witness longer term growth.

H2 2013 HIGHLIGHTS



Arrivals


Room (RevPAR)

RMB

561RMB

839Average Daily

Rate (ADR)

QUICK FACTS

66.9%Occupancy

(2013) (H2 2013)


Sheraton Wuhan Fanhai Wanda Reign Wuhan Wuhan Joya Hotel

NOTABLE HOTEL DEALS

UPCOMING HOTELS(2013)

(2013) (2013)

rooms409

rooms570rooms

Wanda Realm Wuhan

Hilton Wuhan Optics Valley

The PUYU hotel & Spa

rooms332

Quick FactsQuick Facts


NUMBER OF NEW ROOMS

OCCUPANCY REVENUE PER AVAILABLE ROOM (REVPAR)

INTERNATIONAL VISITOR ARRIVALS

AVERAGE DAILY RATE (ADR)

Beijing 619 59.1% RMB 5554.5 million RMB 939(2013) (H2 2013) (YTD March 2014)

(YTD March 2014)

(YTD March 2014)

(YTD March 2014)

(YTD March 2014)

(YTD March 2014)

(YTD March 2014)

(YTD March 2014)

(YTD March 2014)

(YTD March 2014)

(YTD March 2014)

(YTD March 2014) (YTD March 2014)

(YTD March 2014) (YTD March 2014)

1,890 47.2% RMB 4221.7 million RMB 895(2013) (H2 2013)

820 65.4% RMB 5777.7 million RMB 883(2013) (H2 2013)

1,096 67.0% RMB 4790.5 million RMB 716(2013) (2013) (2013) (2013)(H2 2013)

1,129 68.1% RMB 7110.5 million RMB 1,045(2013) (H2 2013)

1,567 58.2% RMB 5907.6 million RMB 1,014(2013) (H2 2013)

(2012) (2012) (2012)577 52.0% RMB 2962.6 million RMB 541

(2013) (H2 2013)

(2013) (2013) (2013)1,568 66.9% RMB 5611.6 million RMB 839

(2013) (H2 2013)

Chengdu

Guangzhou

Nanjing

Sanya

Tianjin

Shanghai

Wuhan

Contributors

Monica WangAnalyst [email protected]

Frank SorgiovanniVice President, Research [email protected]

Corinna Toh Executive Vice President [email protected]

Charles Ye Senior AssociateShanghai [email protected]


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About JLLJLL’s Hotels & Hospitality Group serves as the hospitality industry’s global leader in real estate services for luxury, upscale, select service and budget hotels; timeshare and fractional ownership properties; convention centers; mixed-use developments and other hospitality properties. The firm’s 300 dedicated hotel and hospitality experts partner with investors and owner/operators around the globe to support and shape investment strategies that deliver maximum value throughout the entire lifecycle of an asset. In the last five years, the team completed more transactions than any other hotels and hospitality real estate advisor in the world totaling nearly US $36 billion, while also completing approximately 4,000 advisory, valuation and asset management assignments. The group’s hotels and hospitality specialists provide independent and expert advice to clients, backed by industry-leading research.For more news, videos and research from JLL’s Hotels & Hospitality Group, please visit: www.jll.com/hospitality or download the Hotels & Hospitality Group’s iPhone app or iPad app from the App Store.

Front cover – Sheraton Huzhou Hot Spring Resort, China

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© 2014 Jones Lang LaSalle IP, Inc. All rights reserved. All information contained herein is from sources deemed reliable; however, no representation or warranty is made to the accuracy thereof.

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