Shanghai’s hospitality industry is going to get significantly bigger in the next few years, with a slew of new properties set to open before 2021. We find out more about Shanghai’s project pipeline.
Shanghai’s tourism industry
Shanghai is one of the busiest cities in the world, because of its solid position as one of the world’s most important financial centres, and also because it is a very busy port. Both of these things, as well as Shanghai’s vibrant culture and impressive modern architecture, means that it is a draw for tourists from all over the world, whether it be for business or pleasure. It’s famous skyline located along the Yangtze river delta is home to many impressive buildings and waterfronts, including the famous Bund, which is heavily trafficked by tourists and locals alike.
Shanghai project pipeline
Shanghai is set to benefit from a total of 48 new hotel projects opening their doors over the coming years, bringing an amazing 11,551 new guest rooms and suites to the area. Shanghai is popular with high-end travelers who come shop shop, taking advantage of the retail therapy available in the region. So it is perhaps no surprise that this demographic favours luxury accommodation, and this is reflected in the tiers that the new hotels will reside in. 60% of the projects, which translates to 29 hotels, are classed as first class projects, while the remaining 40%, or 19 properties, are to be classed as luxury.
Construction stages and timelines
The 48 properties are to open between this year and 2021. The majority of the hotels, 21 in total, will open 2019, while 13 hotels will welcome new customers before the end of this year. 2020 will see the boom slow slightly to six openings, but pick back up again in 2021 with a further eight properties opening to the public. The lion’s share of the projects are currently in the construction phase, with 37 projects underway already. Two projects are in the pre-planning stages, gearing up for further progress in the coming years. Four projects are being planned at the moment while five are in the pre-opening stages, getting ready to close the year out.
More information on hotel projects Shanghai can be found in the TOPHOTELPROJECTS database. TOPHOTELPROJECTS is the specialized service provider of cutting-edge information of the hospitality industry.