China's "King of Hotels" Jin Jiang Group: Beating Hilton to No. 2 in the World

With the rapid development of various industries in China since the economic reform, the hotel industry, along with the rapid development of trade and tourism, has also flourished rapidly.

In 2022, China's hotel industry reached an unprecedented scale, led by the North, Shanghai, Guangzhou and Shenzhen, China's first-tier city hotel stock market, has reached 38,396, and the size of the market in the four cities of North, Shanghai, Guangzhou and Shenzhen, it occupies half of the wall.

China's "King of Hotels" Jin Jiang Group: Beating Hilton to No. 2 in the World

As far as the world is concerned, the strength of China's hotel industry should not be underestimated, in front of the world-famous Marriott, Hilton and Intercontinental hotels, etc., China's hotel industry is not weak.

Led by Jin Jiang International Hotel, China's hotel industry is rapidly becoming stronger, Jin Jiang International is the acquisition of Intercontinental shares, whale other hotels, "beat" Hilton, successfully jumped to the second in the world, became China's veritable king of the hotel.

The development history of China's hotel industry

In China, there have been inns, post houses and other similar hotels since ancient times, but there is not much character in their chain and functionality.

China's "King of Hotels" Jin Jiang Group: Beating Hilton to No. 2 in the World

Until the founding of New China, before the economic reform, China's hotel industry did not get much development, there are only "institutional guest houses", and "people's hostels" for the residents, not to mention a foreign hotel.

Until 1978, on the eve of economic reform, China Grand Hotel, Beijing Jianguo Hotel, and Guangzhou White Swan came into existence, changing the initial pattern of China's hotel industry, making the industry development gradually into the right track.

In 1982, after the introduction of the Peninsula Group of Hong Kong and the help of this international hotel management group, Beijing Jianguo Grand Hotel, stepped into the ranks of international high-end hotels.

China's "King of Hotels" Jin Jiang Group: Beating Hilton to No. 2 in the World

In Beijing Jianguo Grand Hotel, successfully transformed into an international high-end hotel 2 years later, the relevant state departments based on its mode of operation, the introduction of management methods related to matters, a time to be followed by the country, Shanghai Jinjiang was also established at this time, the Chinese hotel industry began a new era.

Also in 1984, Holiday Inn landed in China, and the following year, Accor entered the Chinese market. Since then, many hotel groups have joined China and started to share the profits of the huge Chinese market.

In order to support the development of the domestic hotel industry, the relevant state departments, issued a variety of policies to promote the hotel industry to run wild.

China's "King of Hotels" Jin Jiang Group: Beating Hilton to No. 2 in the World

Until 1995, the hotel industry profits began to decline, and in 1998 it reached an industry-wide loss, to the arrival of SARS in 2003, China's hotel industry into a severe winter.

In 2003, the relevant state departments also further improved the rating standards for star hotels, and "Platinum Five Star" appeared in the hotel industry.

In 2004, the hotel industry group competition began to reveal itself and the state of the industry began to recover. At the same time, the emergence of economy hotels such as Jinjiang Star and Rujia also opened up a new direction of development for the hotel industry.

China's "King of Hotels" Jin Jiang Group: Beating Hilton to No. 2 in the World

At the end of 2006, Jin Jiang Hotel was listed in Hong Kong, opening up a new situation in the development of the hotel industry in mainland China.

In 2007, the hotel industry, which had experienced nearly 30 years of fumbling development, crossed into a new era, with 14,326 star-rated hotels, 100 times the total number of hotels in the country in 1987.

And in just over 10 years since 2007, the number of rooms in the hotel industry, has increased from over 2 million to over 4 million, rapidly approaching the peak of development.

Until 2019, the number of rooms exceeded 4.14 million. In recent years, the volume of room growth, moreover, is growing rapidly at a rate of more than 17% per year.

China's "King of Hotels" Jin Jiang Group: Beating Hilton to No. 2 in the World

This year, the U.S. magazine's global hotel rankings show people in front of the 325 hotel groups on the list, 37 Chinese companies also managed to make the list, and the most dazzling of them is undoubtedly the Jin Jiang International Hotel in second place.

King's Laurel

In 1991, Jin Jiang International Hotel, was established in the hotel industry in the rapid frenzy, different from other hotels, Jin Jiang International Group's business projects, not only involved in the hotel industry, but also in real estate, logistics, tourism, finance and business.

As one of the core industries of Jin Jiang International Group, Jin Jiang International Hotel is also developing rapidly with other industries. By the end of 2021, the number of Jin Jiang International hotels had reached 10,600 and the number of rooms had reached 1.02 million.

China's "King of Hotels" Jin Jiang Group: Beating Hilton to No. 2 in the World

It even acquired a 50% stake in the internationally renowned InterContinental Hotels and a 6% stake in Accor.

During the 31 years of its establishment, Jin Jiang International has acquired more than 20 hotel brands, including Radisson, Vienna, Louvre and Platinum Cast, and other well-known hotels.

The global hotel industry has entered a tense phase as the new crown epidemic sweeps the world in 2020.

Prior to the epidemic, the hotel industry had entered a critical phase of consolidation and enhancement as the horse-trading effect continued to strengthen.

The arrival of the epidemic, which has caused a crisis in the hotel industry, has also given many leading hotels with strong economic power, the opportunity to further expand and develop.

China's "King of Hotels" Jin Jiang Group: Beating Hilton to No. 2 in the World

Post-epidemic data shows that single-unit as well as small-scale hotels are under heavy pressure, and many hotels that can't bear the pressure are retreating under the repeated epidemics.

According to statistics, there were 59,000 fewer hotels operating at the end of 2020 alone, and the number of rooms fell by 2,294,000, with a 21.7% drop in new registrations.

And it is at this time, the hotel leading enterprises to expand against the trend, the chain advantage is obvious, accelerating the concentration of domestic chains.

Under the influence of the 2020 epidemic, Jin Jiang International, with its strong capital advantage, acquired 100% of Louvre Group, as well as 81% of Platinum Casting and 80% of Vienna.

China's "King of Hotels" Jin Jiang Group: Beating Hilton to No. 2 in the World

And with this advantage, the company has grown rapidly and overtaken Rujiazui to become the first in China.

In 2021, on top of the Shanghai Center Tower at the top of Shanghai, Jin Jiang International's new high-end hotel "J" will open.

The building is majestic, gorgeous in design and has a strong artistic flavor. Both the enjoyment of overlooking Shanghai and the view and service of the hotel are favored by the aristocracy.

In 2021, JCI's domestic operations have recovered to 87.45% of their 2019 size, an increase of 15.33% from 2020.

In the list of hotels in China in 2022, Jin Jiang International Hotel is firmly in the first place, with the total number of rooms exceeding 1.04 million, a growth rate of 10.27%, and the number of stores reaching 10,694.

China's "King of Hotels" Jin Jiang Group: Beating Hilton to No. 2 in the World

Jin Jiang International is also confident about its growth in 2022, with projected revenue of up to 14.2 billion RMB and a growth ratio of 25%. And Jin Jiang International will also focus its resources on developing its main brands in order to achieve high quality development.

Concluding remarks

Although the hotel industry was hit hard during the outbreak, the outbreak is now effectively under control and the tourism and airline industries as well as the hotel industry have reached a rebound.

China's "King of Hotels" Jin Jiang Group: Beating Hilton to No. 2 in the World

In the hotel industry, most of the leading companies like Jin Jiang International have seized the opportunity to expand rapidly, and while Jin Jiang International is sitting firmly at the top, other companies are struggling to catch up.

In second place, Huazhu Hotel, although in all aspects of data, are far behind Jinjiang International, but its 2,608 new stores opened, the middle and high-end hotels accounted for 53.76%.

As the king of China's hotel industry, Jin Jiang International is still developing steadily. As the king of China's hotel industry, we hope that Jin Jiang International can create more novel experiences and business methods, and lead China's hotel industry to the peak.