Market study: Ritz Carlton in China

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Ritz-Carlton is under the administration of Ritz-Carlton Hotel Company, and it has now over 38,000 employees and over 70 hotel properties. As the world’s first class luxury hotel brand, Ritz Carlton has always promoted its history of tradition ever since it was founded in the 19th century. Due to its association with nobility and luxury, it has been called ‘roof of the world’. Its motto:  “we are ladies and gentlemen serving ladies and gentlemen.” has received high praise over the world. Whenever a city has a Ritz Carlton hotel, it is the first choice of national leaders and celebrities. The Ritz Carlton in Paris is the most luxurious hotel in Europe. The Prince of Wales, the Kings of Sweden, Portugal and Spain all stayed in the hotel.

Ritz-Carlton in China: current states

Currently, there are 9 Ritz-Carlton hotels in China, two in Beijing(北京), two in Shanghai(上海), and one in Guangzhou(广州), Hong Kong(香港), Sanya(三亚), Shenzhen(深圳) and Tianjin(天津).

The Ritz-Carlton hotel in Shanghai(上海) was labeled the ‘best employer in Asia’ in 2001 and 2003 according to the market analysis given by Hewitt Associates, and the Ritz-Carlton in Hong Kong(香港) ranked third in the same rankings in 2007.

The Tianjin(天津) Ritz Carlton was opened earlier in 2012. It is located in the political and cultural center of Tianjin(天津) and is close to the central business region of the city. It lies close to Haihe(海河) and is not far away from many historical sites and cultural landmarks. This location has become the first choice for people who want to experience first class service and enjoy leisure because it is Ritz-Cartlon’s newest venue in China.

Ritz-Carlton in China: future growth

Today, the competition in the market of luxury hotels in China‘s first tier cities is intense. As a result, many high end brands are expanding into China’s second tier cities, where there is great market potential for growth. These relatively untapped markets are becoming more popular for tourists and luxury hotel chains see an opportunity to capitalize on cities that their competitors have yet to reach. Ritz-Carlton is planning to open its new branches in Chengdu(成都) in Southwest China. The market in Chengdu has a lot of potential as shown by its high occupation rate. Chengdu’s five-star hotels average an occupation rate of over 70%. In tourist seasons or days when large companies hold business conferences, the occupation rate can even reach 100%. Thus, there is great potential for profit if Ritz Carlton starts business in Chengdu(成都).

Daxue Consulting Market Study

Sources:

Credit Photo: NMGCB

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