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Chongqing Conrad Hotel opened on August 16. Qian Jin, president of Hilton Greater China and Mongolia, revealed in an interview with the First Financial reporter that the hotel is Hilton's 700th hotel in the Chinese market. Hilton is currently expanding in the Chinese market at a rate of about 100 new hotels per year, and its development will accelerate in the future. So far this year, 100 new hotels have been opened in the eight months, and the number of new stores opened in China each year will increase in the future.

"It took Hilton decades to reach 100 hotels in the Chinese market, and then we accelerated our development. Including multi-brand strategy, we have covered the full-service hotel industry. And we have also increased the candidate cities for destinations across the country. For example, there were 150 before, and now there are more than 200. In addition, the expansion of sinking markets is also a major way. In December last year, we had 600 hotels opened in China, and in August this year, the number reached 700, which is equivalent to opening a new hotel less than every three days." Qian Jin told the first financial reporter.

It is worth noting that the Chinese hotel market is not without challenges. Public information shows that InterContinental's revenue per available room in the Chinese market fell by 2.6% year-on-year in the first half of 2024, and fell by 7.0% in the second quarter. Marriott's revenue per available room in the Chinese market fell by 4.2% year-on-year in the second quarter of 2024. Accor's revenue per available room in the Asia-Pacific region fell by 12% year-on-year in the second quarter of 2024, and the average occupancy rate fell by 7% year-on-year. This shows that a number of high-end hotels are under great operating pressure.

In this regard, Qian Jin said that market challenges and competition have always existed, so hotel development strategies must also keep pace with the times.

"In my opinion, lifestyle-oriented hotels and more digital investments are the future development direction. Lifestyle hotel brands can be built in accordance with local culture and flexibly, and there is huge room for development. Combined with some popular niche destinations, there will be great potential. On the other hand, there is digital investment. These technological elements will help Chinese hotels to further develop in innovation and other aspects. We have made large investments in digitalization in the Chinese market, which is in line with the needs of the headquarters and the Chinese market. Today we also announced the establishment of the Western Headquarters for the Chinese market, with business covering Chongqing, Chengdu, Kunming and other regions. There are currently 155 hotels in the Western District." Qian Jin further revealed.