As Chinese Consumers Pinch Pennies, China’s Hotel Industry Flounders Through Fall Holiday Season

Published on November 7, 2024

As China’s economy continues to flounder and Chinese consumers pinch pennies, the Chinese hotel industry is struggling, even during the normally busy holiday season that includes October’s National Day week and November’s “Double 11” holiday—Nov. 11, also known as Singles Day. Hotels in China began an aggressive price war in preparation for the Nov. 11 holiday after the week-long National Day holiday from Oct. 1 to Oct. 7, which some industry professionals deemed “the worst golden week.” On Oct. 15, Chinese travel website Ctrip launched a “stock up now, pay later” promotion in advance of the Double 11 holiday. Ctrip offered a “Zero Yuan Order,” allowing customers to stock up on coupons and pay when they check into the hotel. The website also offers major discounts and discounted hotel packages....

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