China’s hotel market is entering a consolidation phase, with 1,900+ midscale-and-above hotels rebranded or de-branded in 2025 as competition shifts from new openings to performance, retention, and brand-property fit.

The 2025 China Hotel Industry Investment and Asset Management White Paper examines how China’s hotel sector is transitioning from expansion-led growth to a new phase focused on existing-asset optimization, professional operations, and long-term value creation. Drawing on extensive industry data and feedback from leading institutional investors and hotel asset owners, the report provides an in-depth analysis of hotel development, asset management, renovation, digital transformation, transactions, and exit strategies. It highlights the growing importance of refined operations, efficient space utilization, flexible management models, and data-driven decision-making in improving hotel profitability and asset performance. The report also explores changing investor preferences, the rise of franchising, increasing demand for hotel renovations, and the evolving role of financial exit channels such as asset sales and REIT-related structures. It offers practical insights for investors, owners, operators, and industry professionals seeking to navigate China’s changing hospitality investment landscape.

The national Hotel Market Sentiment Survey aims to provide judgments and predictions on the future insight for Chinese professional hoteliers. This survey is the 45th industry survey conducted by Horwath HTL on the Chinese hotel market, focusing on expectations for performance in Q3 of 2026 in terms of occupancy rate, average daily rate, and total revenue. We compared and analyzed the historical sentiment indices to effectively present the market‘s performance expectations for the hotel industry in different regions of China. In the performance expectations section of the survey, the sentiment index presented reflects the market‘s expectations for overall performance. The index ranges from -150 to +150, where “-150” indicates a very pessimistic performance expectation of the market, “0” indicates a neutral outlook, and “+150” indicates a very optimistic market performance expectation.

The national Hotel Market Sentiment Survey aims to provide judgments and predictions on the future insight for Chinese professional hoteliers. This survey is the 44th industry survey conducted by Horwath HTL on the Chinese hotel market, focusing on expectations for performance in Q2 of 2026 in terms of occupancy rate, average daily rate, and total revenue. We compared and analyzed the historical sentiment indices to effectively present the market‘s performance expectations for the hotel industry in different regions of China. In the performance expectations section of the survey, the sentiment index presented reflects the market‘s expectations for overall performance. The index ranges from -150 to +150, where “-150” indicates a very pessimistic performance expectation of the market, “0” indicates a neutral outlook, and “+150” indicates a very optimistic market performance expectation.

As an important part of the Horwath Global Hotel Market Sentiment Survey, the national Hotel Market Sentiment Survey aims to provide judgments and predictions on the future insight for Chinese professional hoteliers. This survey is the 43th industry survey conducted by Horwath HTL on the Chinese hotel market, focusing on expectations for performance in Q1 of 2026 in terms of occupancy rate, average daily rate, and total revenue. We compared and analyzed the historical sentiment indices to effectively present the market‘s performance expectations for the hotel industry in different regions of China. In the performance expectations section of the survey, the sentiment index presented reflects the market‘s expectations for overall performance. The index ranges from -150 to +150, where “-150” indicates a very pessimistic performance expectation of the market, “0” indicates a neutral outlook, and “+150” indicates a very optimistic market performance expectation.