[photopress:dongguan.jpg,full,alignright]Dongguan, a city located in South China’s Guangdong Province between Guangzhou, the province’s capital, and Shenzhen Special Economic Zone. The city houses 15 five-star hotels, accounting for 5% of China’s total and nearly twice that of the province’s capital, Guangzhou.
The hotel industry of Dongguan has attracted more than RMB25 billion (US$3.2 billion) of private investment in the past 10 years. More than 90% of the 95 hotels are owned by local millionaires. Just two decades ago, the southern city was just a village.
What makes the private investors confident is the prosperous business travel market in Dongguan.
More than eight million business people visit Dongguan every year. Some attend the exhibitions held almost twice every month covering different industries, from furniture to textiles, from electronics to sweaters and shoes. Some are business executives with the more than 15,000 foreign-invested enterprises and 300,000 private enterprises in Dongguan.
The average occupancy rate of hotels in Dongguan is 58%, while four- and five-star hotels have a much higher rate at 70%.
Nearly 80% of China’s 12,000 hotels, which have at least one star, are still State or collectively owned. But over 90% of Dongguan’s hotels are privately owned.
With its economy growing 22% annually, Dongguan has become one of China’s major sources for exports. Its export volume has been China’s third largest for eight consecutive years.
The illustration was, honest, taken in Dongguan although it has nothing to do with hotels. But it is a great shot and you can see it in full on Velo News.
Source: China Daily