Home > > 96,000 Chinese hotel enterprises go under in first half of 2021, up by 24.7% from last year

96,000 Chinese hotel enterprises go under in first half of 2021, up by 24.7% from last year

08/11/2021| 6:06:57 PM| ChinaTravelNews

In the first half of this year, 191,000 new hotel enterprises were registered, up by 11% year-on-year.

With rising infection numbers across the country recently, China’s hotel and accommodation sector is facing more operational pressure. 

Corporate information platform Qichacha’s data show that China currently has about 2.3 million hotel-related enterprises in operation. A total of 364,000 hotel enterprises were newly registered in 2020, down by 17.4% from the same period of 2019. As of August 3 this year, 227,000 hotel enterprises were registered, up by 2.7% year over year. 

The number of deregistered hotel enterprises from January to June reached 96,000, up by 24.7% from the first half of last year.

Hotel company registrations down by 17.4% last year

The Qichacha data showed that the number of registered hotel-related enterprises had been growing in the past decade, to the level of 551,000 in 2019 before the pandemic struck. 

A total of 364,000 hotel enterprises were newly registered in 2020, down by 17.4% compared with that in 2019, the first decline in the past years. As of August 3 this year, 227,000 hotel enterprises were registered, up by 2.7% year over year.

In the first half of this year, there were 191,000 newly registerd hotel enterprises, up by 11% on a year-on-year basis, of which 84,000 were registered in the first quarter and 107,000 in the second quarter. The number in the second quarter was down by 6.1% year-on-year.

96,000 hotel enterprises closed down in the first half of 2021

A total of 614,000 hotel enterprises folded between 2016 and 2020, including a record high of 177,000 hotel companies closing down in 2019. Nearly 96,000 hotel enterprises went under from January to June this year, up by 24.7% from the first half of last year.

By region, Guangdong province with 224,000 hotel-related enterprises has the highest number of such companies in operation, followed by Jiangsu (202,000) and Shandong (182,000).

By city, Shanghai ranked top with 143,000 hotel enterprises, followed by Shenzhen with 94,000 and Xi’an with 76,000 hotel-related companies. Beijing, Chengdu and Guangzhou were also among the top 10.

By registered capital, more than half (52%) of the registered hotel-related businesses are small firms with less than RMB 1 million (USD 157,000) registered capital, 26% of them had RMB 1 million to 5 million (USD 778,355) and 22% of them had over RMB 5 million.

TAGS: registered company | hotel enterprise
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