RESEARCHKnight萊研究报告Frank坊GREATER CHINAHOTEL REPORT 2018大中华酒店报告20181611100090088802-108OVERVIEWAmong all major cities in the Greater China region,Shanghai,Hong Kong and Macau had the best hotelperformance in 2018.The Shanghai hotel marketreached another peak since the World Expo in 2010,with a surge in hotel demand,mainly because ofChina's hotel market is stillthe China International Import Expo.Thanks to theamong the most importantmarkets for global operators.record-breaking number of tourism arrivals andWith the government'sincrease in overnight visitors to Hong Kong,bothinitiatives to boost domesticthe hotel occupancy rate and the Average Dailyconsumption,demandfor five-star hotels in theRate of hotels in the city enjoyed positive growth.country will remain strongMacau recorded 7.2%YoY growth in the number ofand continue to enjoyinternational overnight visitors,which helped boostrobust growth in the comingyears.It is crucial for hotellocal hotel demand.operators to adapt to therapidly changing domesticTourism continued to be an importantBenefiting from an increase in theconsumption trends."growth engine for China's economy.Innumber of visitor arrivals,Beijing's luxury2018,the domestic tourism industryhotel market improved gradually.InDAVID JIcontributed about RMB9.94 trillion to the2018,three new luxury hotels-MUJIcountry's GDP,accounting for 11.04%Director,Head of ResearchConsultancy,Greater Chinaof the total.The vibrant tourism marketHotel Changping and Hyatt Regencyhas generated huge opportunities for theBeijing Wangjing -opened in Beijing,hotel industry and continued to attractadding 814 rooms intotal.In the midto long term,we see a rosy picture fortheir presence in ChinaBeijing's hotel industry.In the contextTABLE 1Economic indicatorsPeriodBeijingShanghaiGuangzhouHong KongMacauTaipeiGDP growth20186.6%6.6%6.2%3.0%4.7%2.6%(YoY)GDP per capita2018RMB140,748RMB135,305HKS381,870MOP666,893NTs777,560Retail sales value (billion)2018RMB1174.7RMB1266.8RMB926.5HKS485.2MOP76.8NTS4750Retail sales value growth20182.7%7.9%7.6%8.8%159%3.3%(YoY)Foreign direct investment3.9%growth (YoY)20181.7%5.1%20177.3%52.3%Unemployemnt rate20181.4%3.6%2.8%1.8%3.7%Inflation20182.5%1.6%2.4%2.4%2.9%0.1%ts/Knight Frank Research