Marriott to Expand China Properties by Nearly 10% in 2023

Finn Partners released the results of their latest report, Outbound Rebound: The Return of Chinese Travelers. The survey was conducted in mid to late-January, started days after the Chinese government lifted international travel restrictions after 3 years. Over 2,000 affluent Chinese in first, second and third tier cities were interviewed. The findings included that one in two affluent Chinese travelers are making plans for at least five trips in 2023, planning to make an average of 5.9 trips this year, up from 5.6 trips in 2019. Younger affluent 21-25 year olds continue to be the most frequent travelers. 72% overall plan to vacation from six to over 10 days in 2023, bringing the average duration per trip to 8.7 days, versus 8.4 days in 2019. The affluent segment plans to increase spending by 15% to RMB102,500 in 2023 or US$15,299. That is 22% more than the budget set aside by Hong Kong travelers. The increase in travel budget is more prevalent in the 36+ age group, as well as those from Tier-1 cities. Over 70% of respondents desire slow, recuperative travel over an itinerary filled with activities. Affluent Chinese travelers tend to choose hotel or resort brands where they had good personal experiences in the past. Finn said star ratings and positive word of mouth also carry great potential for repeated visits. The decision process where destination is decided on first is declining as hotel brands are becoming a deciding factor in destination choice, especially among Gen Z travelers. While Staycations remain positive, mainland Chinese expect to resume their pre-