Chinese Hotel Market Shows Steady Growth Despite Political Turmoil in Korean Peninsula
Tourico Holidays Reports Increase in Inbound and Outbound Hotel Bookings in China
SHANGHAI & ORLANDO – May 9, 2017 – Tourico Holidays, the world’s fastest growing wholesale travel brokerage company, today shared data indicating that inbound hotel room bookings to China have increased by 106 percent over the last year. Tourico’s data also shows that the Chinese continue to be among the biggest travelers in the world, as outbound hotel bookings from the market grew by 70 percent year-over-year in the first 17 weeks of 2017.
The Republic of Korea (+68% YOY in bookings), the United States (+10% YOY) and the United Kingdom (+40% YOY) continue to be among the strongest source markets to China, while emerging markets such as India (+160% YOY), the UAE (+212% YOY), and Brazil (+90% YOY) are helping diversify the demand.
“Regional political turmoil, such as the nuclear crisis in the Korean Peninsula, make the inbound China market more unpredictable this year - as Korea was the number one inbound source country for China last year – but, so far, Chinese travel business remains very strong,” said Hillary Wang, the Regional Director of Product Development in North Asia for Tourico Holidays. “In fact, Tourico is predicting it will double its overall Chinese business in 2017, as both the larger markets and emerging markets continue to demand product in China.”
Tourico currently has four local offices in the region, including in Shanghai, Beijing, Shenzhen, and Hong Kong - stationing over 55 employees to locally support Chinese supplier partners and distribution clients. In the past year, the Tourico team in China has worked to add a number of new clients, including Alitrip, Tongcheng International, Mioji Travel, eLong, Tuniu, Mogutrip, Mafengwo, Lushu Technology, CNBooking, and Caissa.
“Our local Chinese supplier partners and distribution clients are both experiencing a strong demand in 2017 and we’ve ensured that a dedicated support team is in place to help them push their businesses to the next level,” said Wang.
Tourico Holidays will be exhibiting its comprehensive lineup of travel offerings – including hotels, cruises, activities and transfers, car rentals, and vacation homes – at ITB Asia from May 10 to the 12. To speak with a Tourico Holidays representative at ITB China, please visit Booth 531 located in Hall 2.
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About Tourico Holidays
Tourico Holidays is a leading global travel distribution company that contracts directly with travel providers, such as hotels, flights, cruise lines, attractions, car rentals, vacation homes and more. Tourico Holidays works on a high-volume, wholesale model to broker this inventory to over 4,900 clients in 100 countries using proprietary technology.