Cautious Optimism and Focus on Domestic Tourism At the China Hotel Development and Financing Conference 2010
More than 500 delegates congregated at the 6th Annual China Hotel Development and Financing Conference, organized by Horwath HTL in conjunction with STR Global and the China Tourist Hotels Association (CTHA). The event was held from 24-26 March, 2010 at the Crowne Plaza Sun Palace, Beijing, China.
After a very challenging 2009, hotel industry experts expressed a more optimistic outlook for 2010, particularly with regards to occupancy growth. There was, however, much caution as significant amount of new supply is expected to enter several key markets, such as Beijing, Shanghai and Hangzhou. Cities such as Guangzhou, Shenzhen and Sanya continue to offer glimmers of hope for the industry. With good service delivery still a challenge, the CTHA urged hotels to focus on training and talent retention in view of the vast growth of the industry in the near future.
According to leaders of major international hotel management companies at the conference, strong performances of hotels in the first quarter of 2010 have boosted confidence in that market recovery is on its way. Cost control, staff efficiency and training remain top priorities of the industry as companies seize the opportunity to review operations of existing properties. New opportunities for hotel development, on the other hand, were identified in cities located close to and suburbs of key cities, with appropriate brand placement a focus for the hotel management companies. There was much interest surrounding large-scale resort development. The government-backed development of Hainan Island into an international tourism island proved to be a hot topic at the conference. Developers were also reminded that sustainability, efficient hotel design, construction and staffing were important considerations in hotel development and renovations to ensure the longevity and success of the projects.
Based on analysis by the China International Capital Corporation Limited (CICC), 3 key trends will emerge in the Chinese market in the next 5 to 10 years. The currently export driven economy will shift to focus on the domestic market, as domestic disposable income increases amidst a relatively weaker global environment. As corporations move inland to explore cost efficiencies, central and western cities will become stronger economic drivers in comparison to coastal cities. The service industry will continue to gain increasing importance in economic development, over the manufacturing industry. 2009 was the first year in history when net imports surpassed exports in the country.
About the Conference
The China Hotel Development and Financing Conference aims to be the leading industry forum to analyse and discuss the latest trends for the hotel industry in China. The goal of the conference is to provide the most comprehensive analysis of industry data by having leading firms present the latest industry data to keep all delegates abreast and up-to-date. The conference also has a pure focus on the China hotel market, allowing the maximum number of sessions to focus on important issues to the local hotel industry.
The China Hotel Development and Financing Conference has grown from strength to strength and in 2009 attracted over 400 delegates of which 35 percent were owners and developers, 30 percent came from corporate level hotel management companies, 25 percent were industry professionals (lawyers, architects, interior designers, consultants etc.), 7 percent came from investment banks and financial institutions and 3 percent from the media. As such, the China Hotel Development and Financing Conference provides a great platform for you to network and source potential business leads, as well as meet with your contemporaries and discuss important industry topics.
About Horwath HTL
Horwath HTL is a member of Crowe Horwath International, a professional association of accounting and management consulting firms founded in New York in 1915. Crowe Horwath International is currently ranked among the top ten international professional service groups with offices in close to 400 cities in 88 countries.
Horwath HTL (Hotels Tourism and Leisure) is one of the pre-eminent consulting specialists in the hotel, tourism and leisure industries, providing unequalled experience and expertise for client projects around the world through a combination of detailed local knowledge and international understanding. Horwath HTL is currently the world's largest consulting organization specialized in the hospitality industry, with 47 offices in 37 countries.
For more information, contact Damien Little, Director of Horwath HTL in China at [email protected] or James Chappell, Global Marketing Director at [email protected].
