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PolyU study finds state-owned hotel groups in China

Tag：PolyU study 2019-06-11 10:10

China's hotel industry has grown tremendously in recent years, from 137 hotels with less than 16,000 guest rooms in 1978 to 11,180 hotels with 1.5 million rooms in 2014. The researchers note that this expansion began with the introduction of the Open Door policy, which allowed many international hotel chains to enter the market, accompanied by "surging demand" from domestic tourists. The Belt and Road initiative of investment and infrastructure development through 65 countries, implemented in 2015, has brought further noteworthy opportunities for the hotel sector, and indeed the entire hospitality and tourism industry.

With these developments, the hotel sector has become an important constituent of China's economy, and its performance deserves "careful attention", according to the researchers. In particular, how the ownership structure of Chinese hotel firms affects their performance should be monitored, because the state has "maintained a strong influence in many publicly listed hotel firms".

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