What do Chinese travelers want? Luxury 'star-rated' hotels, says new survey
Publishing timestamp: 2023-02-09 22:40:10
Summary
Morgan Stanley survey found that consumers in China plan to pay more for hotels now that domestic travel restrictions have been lifted and the Covid wave has passed. UBS analyst Xin Chen and team also expected this to happen. The survey also found that people are looking to upgrade their lifestyles with higher spending, and disposable incomes in China have grown. InterContinental Hotels Group announced a deal in Shanghai, and Hilton Worldwide Holdings reported that industry revenue for China was still down by 37% compared to 2019 levels.
Sentiment: POSITIVE
Tickers: MAR, WH, IHG, MS, IHG-GB, HLT,
Keywords: entertainment, holidays, wyndham hotels & resorts inc, hotels and resorts, coronavirus, family travel, hospitality and leisure industry, economy, life, luxury travel, accommodations, travel, hilton worldwide holdings inc, tourism, morgan stanley, vacation costs, wealth, luxury, marriott international inc, lifestyle, intercontinental hotels group plc, business news, covid-19, vacations, china, adventure travel, business travel,
Source: https://www.cnbc.com/2023/02/10/chinese-travelers-want-luxury-travel-and-hotels-survey-shows.html