Inside China’s luxury hotel boom | CNBC Reports

China’s luxury hotel
scene is booming. New hotels are opening
up everywhere you look. So I’ve come here to understand just
where this trend might be headed. From the Bulgari hotel in Shanghai
to the Rosewood in Hong Kong, these luxury hotels are just
the tip of the iceberg in China. I’m starting in Shanghai at two
brand-new five-star hotels. Then I’m heading to Beijing to get inside
this millennial-focused members-only club that is so much more
than just a hotel. My luxury hotel experience ends in Hong Kong,
at this presidential suite 57 floors high, and you’re not going to
believe the price tag per night. Join me as I bring you inside some
of China’s newest luxury hotels. Despite the Chinese economy slowing down last
year for the first time in nearly three decades, the Chinese consumer’s expensive taste is
still driving the growth of the luxury market. The knowledge of the Chinese luxury
traveler has grown exponentially. The Chinese customer now, they are very well educated.
They’re much more now into personalized service. In fact, for the first time ever, there are
now more Chinese people in the top 10% of the richest people in the world
than there are Americans. It’s this group of people fuelling
the growth of the luxury sector. Chinese consumers are expected to account
for about two-thirds of the industry’s growth. And luxury hotels are hoping
to reap the benefits, with the region’s major cities all growing
their stock of five-star rooms. Beijing leads the way with about 40,000 five-star
rooms, followed by Shanghai, Macau and Hong Kong. The Chinese luxury traveler is the most
booming segment of luxury in the world. And a lot of China’s luxury growth is being
driven by its younger generation. The average luxury traveler in China is
33 years old vs 56 years old in the U.S. The Chinese millennial is a little
bit more sophisticated. These young millennials
have already seen the world. Now they’re looking for an experience that
the world doesn’t really know exists yet. So how are the latest hotel offerings hoping
to cater to these young, luxury travelers? Let’s find out. Here in the heart of one of Shanghai’s most
popular shopping districts, is the Shanghai Edition. I arrive at the hotel, which opened its doors
a year ago and I am immediately struck by the lobby that doesn’t
quite feel like a lobby. It’s a nice place to have a fabulous cocktail, and you just
never know who you will see walking through the lobby. The social lobby is meant
to emulate a town square. The hotel attracts mostly 25 to 35-year olds,
primarily Chinese, and the demographic skews female. With such a young demographic, you can bet
that technology is the name of the game. You can use your phone
to get into your room. And soon, they tell me, all guests
will need is to show their face. The Edition says it’s all about creating
an experience full of discovery. This is called the club room, and it’s a spacious
lounge dedicated to hotel guests only. And it’s really meant to really emulate
that feel of a private members club. A few minutes away lies this
newly-opened Bulgari Hotel, it’s the sixth hotel opened by
the luxury Italian jewelry brand. Adjacent to the hotel is this
restaurant and ballroom, which was formerly the Shanghai
Chamber of Commerce. From the tiles to the roof, it’s all been
preserved to maintain its original feel and now this space is used for everything from
fashion shows to corporate events and weddings. There are 19 luxury suites here, but there’s
one in particular that catches my eye. Here is the signature suite.
It’s called the Bulgari Suite. The price tag? $20,000
per night, plus tax. Next, I’m headed to Beijing, where I visit
Chao. And don’t call it just a hotel. Chao is a lifestyle
brand for millennials. Besides the usual accommodations and restaurants,
it also serves as a members-only club, which hosts regular events ranging from
art exhibitions to movie screenings. We wanted to address the crowd
that is rather millennial in its attitude. Our clients tend to have a vision of their
environment which is unscripted. “I want breakfast, but I want the experience of
breakfast, I want the emotion of breakfast.” This staircase leads
you to an event space. The reception is off to the side, where
staff is all dressed in sleek streetwear. The design elements
are fleshed out to a tee. The staff is situated on the same side as the counter as
not to create a gap between the staff and the guest. Everything you see here is
somewhat unconventional. This isn’t typically what you would
see when you enter a hotel. Exactly, that’s not even a lobby.
It’s an introduction to a concept. It has an element of discovery. You
have not experienced the product before you connect with the product. They’re seeking
stories to tell. They’re seeking experiences to live. And the elements of discovery William refers
to is apparent even during my tour. Behind the bar is this wine cellar which isn’t
just used for wine, but also for private events, and the events are
for members only. And while the restaurants
here are open to the public, you’ll need to apply for a membership
to enter the clubhouse. But before you can even think of applying, you’ll
need to be nominated by two current members. Now Chao is looking to expand
the brand beyond Beijing. Finally, I end my luxury
hotel tour in Hong Kong. I’ve come to the St. Regis in Hong Kong
which only opened several months ago. Now when guests arrive here, instead
of going to a front desk to check-in, they’re greeted by a butler who
escorts them to their room. As soon as you come out of your car,
we immediately put you at ease. We take you through the journey of the hotel
and we 100% check you in your room and at that time we’ve determined
whether you want full butler service, you want partial butler service or
if you just want to be left alone. The St. Regis has 129 rooms and I get a
glimpse inside the most prestigious one, the Presidential Suite. This 250-square meter suite is
opulent in every sense of the word. Finally, I’m ending my hotel journey at
this newly opened Rosewood Hotel. That notion of not creating hotels, but
truly creating big family residences, or mansions, or manors has
been core to the brand. Its spa puts others to shame. Besides the usual treatments for your body,
this spa also looks after your mind. It even offers cognitive behavior therapy
with a licensed practitioner. There are 400 rooms here but
I’m most interested in this one. It’s called the Harbour House, the Rosewood’s
version of the presidential suite. It takes up the entire 57th
floor and there’re two pools, one of which is an infinity pool that
overlooks the Hong Kong skyline. It’s so big, at one point,
I even get lost. The price tag? A whopping $100,000 a night, making it one
of the most expensive hotel suites in the world. Who is this for? Of course,
for very few people, dignitaries, celebrities, or simply,
people who have had everything. How do we surprise them? How
do we create that wow effect? We’ve had a few people that you would classify as
billionaire coming here and really having this moment, where they’vee just stopped
and went, “I cannot believe this.” But believe it or not it’s not just China’s
uber rich staying at these hotels. At least, according to Craig Smith,
the CEO for Marriott Asia-Pacific. People will save up an entire year
to have that little experience. But in China, that’s a multiplier effect. It’s
happening much faster and at a greater rate. And it’s not just the domestic luxury players that
are benefitting from China’s booming middle class. Data suggests Chinese outbound
tourists are growing at a rapid rate. In 2015, Chinese tourists took
117 million outbound trips. By 2020, that’s expected
to hit 160 million. It’s not just in China. It’s
China outbound business. The greatest percentage of our travellers at
our luxury hotels across all of Asia Pacific? Chinese customers. Hey guys, it’s Uptin. Thanks for watching. Check out more of our videos and let us know in the
comments below, which hotel did you like the best? While you’re at it, subscribe to our
channel and we’ll see you next time.

100 thoughts on “Inside China’s luxury hotel boom | CNBC Reports

  1. china has 1.4 billion people. only 200-300 million chinamen are considered wealthy enough to roam anywhere they want… 1.1 bilion people are poor as dirty, stuck in their own mom's basement

  2. So the Chinese economy somehow creates much better opportunities for millennials than the American economy, to the point where they can afford these hotels… guys, we’re fccked.

  3. china only have 100 million travellers. very little. alot of them are poor. they go travel with their friends then 10 people live in the same hotel.. no money

  4. i know alot of chinamen are like this. 85% of chinamen who cannot travel are broke. 60% of china jobs only pay 3000-4000 rmb. very poor. store clerks, restaurant staff, security guards, facotory worker, farmer etc..
    1.1 billion people are poor, while only 200 million can travel to places.

  5. 20,000 us Dollars / night, that is cost of one full house for whole family to stay permanently in many semi develop countries , life is very funny indeed, 😁👉 👈🐴,

  6. Thank you for this amazing insights! would love to see more on outbound Chinese consumers and most countries they purchase for travel. Also their holidays periods and how long they are.

  7. This guy have been staying in china for too long🤔.. I think he should also go to Chongqing, Dalian, Chengdu and Tianjin..China has more than 30 modern cities with skyscrapers..Many people have never even heard of Chongqing..

  8. This guy should promote tourism in china like the "avatar mountains" where there is a glass bridge, Lijiang, Guilin, inner mongolia since china has more than 661 cities as a 3rd or 4th largest country in terms of landmass from snowy cap mountains, deserts, -30 degrees weather in heilongjiang to the tropical islands of Hainan, a very diverse country..

  9. I see many comments on these hotel managers. Most of them are right, why aren’t they Chinese? Is it because of the lack of experience? Oh no it’s because these hotels are not owned by the communist party, and most Chinese millennials are tired of same hotel concepts, they have to migrate to foreign concepts to meet their needs of glamour and chiqueness

  10. What makes it worth 20k/100k a night? Finally, we produced a generation that does not understand value. Good accomplishment fellow humans.

  11. Bec. of extremely US sponsor terrorism in HK ,the society become chaotic its really pathetic and hopeless ,what for the luxurious hotel ? its useless !

  12. CHEERS! Awesome video. However, for some reason, Chao hotel seems the MOST unappealing to me. I don't know it seems so shabby even if its to "appeal" to millennials it just dont seem worthy in any aspect for the price.

  13. none of these looks like they are even worth a fraction of the price they are paying, i'd guess it is more of status symbol since 'face' is everything in China. Oh i'm part of this membership club, oh i've stayed at this hotel before….blah blah

  14. Corporations are buying land on China and in their cities so while it's all pretty looking, they are actually removing poor people because of the gap being made between what's possible for the rich vs the poor. In fact many poor people are needing to share their space inside the same home being cramped into cages to cover their expenses in rent. Their rich people are the ones leading the economy because their leaving the poor in the dirt and yet this is a country with billions of people which shows priority on classes. It's nice to be informed on the price tag of these hotels but they don't explain nothing more then the rose colored glasses they add for these companies. This is marketing 101, all these rooms that hotels also have tend to actually be vacant because of the price tag, these hotels are meant for corporations to use with one another, the one's making real money enough to justify spending that money, even in the video they explain that it's outbound tourists as well. I guess I'm just explaining the other side of the unexplained part of contrast and effect these videos tend to leave out ¯_(ツ)_/¯

  15. You're SO Handsome. First thing I noticed about this Video. Keep making Videos and I loved this Video, because I always wanted to See a video like this about China.

  16. Rich Chinese are everywhere now a day! Traveling, luxury, and even House markets in many countries, especially USA are dominated by Chinese and cash is the mantra!

  17. People who were blown away by the prices don't forget that those rooms are ENORMOUS, individuals wouldn't rent them, but a group of people would, why not. The last $100k/night room was so huge the host got lost, it can fit at least 50 people inside, if everyone splits the bill it's affordable

  18. I feel like the young chinese Millennials theyre showing that stay at these hotels are the same ones that show up to my 8am lectures in Gucci smh

  19. 不要再吹了,中国贫富差距大到你们无法想象,20%的人掌握了80%的财产,而且利益既得者也不愿改变,老共已经忘本了。

Leave a Reply

Your email address will not be published. Required fields are marked *