The 2020 Report on the Development of China's Accommodation Industry was released in Lijiang, Yunnan

On November 28th, at the 2020 Asia Pacific Hotel Cooperation Forum held in Lijiang, Yunnan, Dr. Yang Honghao, Director of the Industry Research Institute of China Tourism Research Institute, shared the main viewpoints of the "China Tourism Accommodation Industry Development Report 2020" on behalf of the research group.

The Report on the Development of China's Tourism and Accommodation Industry 2020 points out that the tourism and accommodation industry has encountered the most severe test ever this year, and the COVID-19 has led to a series of changes in the accommodation industry: first, the housing industry market structure has undergone dramatic changes; Secondly, it leads to the reconstruction of travel modes; Thirdly, changes in demand are driving supply side reforms in the accommodation industry; The fourth is the reshaping of the industrial pattern, with an increase in industrial concentration; The fifth is the short-term pressure on the performance of the accommodation industry; Sixth, investment in the accommodation industry has been suppressed, showing negative growth. Under the "dual circulation" economic pattern, the accommodation industry will present the following trends in the coming years: firstly, the rise of local brands and the acceleration of localization of international brands; Secondly, the application of various new technologies in the accommodation industry will be more widespread, especially the acceleration of digital technology applications; Thirdly, hotels are extending into the field of lifestyle services and implementing cross-border integrated development; Fourthly, the hotel group will focus on the development of accommodation innovation laboratories to make decisions more scientifically and rationally; The top effect of the accommodation industry will be further highlighted, and the concentration of the industry will be further enhanced. Sixth, while expanding in scale, hotel groups pay more attention to high-quality development and shape brands with international competitiveness. At present, China is still in an important period of strategic opportunities, and the accommodation industry will face the dual risks of "decoupling" between China and the United States and the COVID-19. In the upcoming "14th Five Year Plan" economic period, the development of tourism accommodation industry should do the following: First, focus on the main battle field of domestic consumption and strategically layout the international accommodation market. The second is to tell the story of China well and shape a world-class brand. Thirdly, we will continue to promote the digital transformation of the accommodation industry, while also advancing digital industrialization. The fourth is to leverage the value of the capital market and assist in the high-quality development of the accommodation industry. The fifth is to attach importance to the value of entrepreneurs, promote entrepreneurial spirit, and cultivate large-scale tourism and accommodation enterprise groups. Sixth, revise rules and standards to promote the standardization and branding of the accommodation industry.