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1、 China - Hotels however, it also involves employing various business strategies and extra costs. Some of these emerging industries, such as in Tunisia and Egypt, which had previously provided strong areas for growth, have been hit by political disturbances. These events may have upset consumer confi
2、dence. How quickly these industries recover remains to be seen, but the currently volatile nature of the tourism industry as a whole, will directly affect the hotel and motels industry until confidence in the global economy is restored. China - Hotels selling off assets has allowed large competitors
3、 to raise capital and invest in expanded operations, which again intensifies the competitive nature of the industry. Strong growth in the industry helps to alleviate rivalry to an extent. Overall, rivalry in the industry is moderate. China - Hotels 1,001 hotels in rest of Europe; 1,111 hotels in Nor
4、th America; 194 Latin America and Caribbean; and 631 in other countries. Accor operates through one business segment: hotels. However, the hotel segment is further divided in to three hotel sub-segments: upscale and midscale hotels, economy hotels and economy hotels US. The upscale and midscale hote
5、ls segment comprises the Sofitel, Pullman, Novotel, Mercure, Adagio and Suite Novotel brands. The economy hotels consists of the Formule 1, HotelF1, Etap Hotel/ibis budget, all seasons/ibis Styles and ibis brands. The economy hotels and economy hotels US segment comprises of Motel 6 and Studio 6 bra
6、nds. As part as the strategic refocusing on Accor core hotels business, the group sold Groupe Lucien Barriere and Lenotre in March 2011 and September 2011, respectively, which transformed Accor in to a 100% hotelier. Key Metrics The company recorded revenues of $8,486 million in the fiscal year endi
7、ng December 2011, an increase of 2.6% compared to fiscal 2010. Its net income was $38 million in fiscal 2011, compared to a net income of $5,008 million in the preceding year. Table 9: Accor SA: key financials ($) $ million 2007 2008 2009 2010 2011 Revenues 11,298.0 10,742.9 7,637.7 8,274.9 8,486.4
8、Net income (loss) 1,228.4 799.9 (392.3) 5,008.3 37.6 Total assets 15,072.3 15,883.4 16,341.1 12,072.9 11,129.7 Total liabilities 9,852.5 10,936.3 11,814.1 6,579.0 5,887.6 Employees 172,695 158,162 150,525 143,939 144,893 SOURCE: COMPANY FILINGS M A R K E T L I N E China - Hotels and vacation ownersh
9、ip and residential. The companys hotel segment operates primarily in the luxury and upscale segment representing a worldwide network of owned, leased and consolidated joint venture hotels and resorts, which are operated under the companys proprietary brand names. As of December 2011, the company ope
10、rated, owned, leased, managed and franchised approximately 1,076 hotels with approximately 315,300 rooms out of which 59 hotels are owned or leased or in which the company has a majority equity interest, 518 hotels are managed by the company on behalf of third-party owners and 499 hotels are franchi
11、sed. Starwoods key hotel brands include St. Regis, The Luxury Collection, W Hotels, Westin, Le Meridien, Sheraton, Four Points, Aloft and Element. The companys St. Regis, The Luxury Collection, W Hotels, Westin, Le Meridien and Sheraton brands comprises of luxury and upscale full-service hotels, res
12、orts and residences while the Four Points and Aloft are select-service hotels. The company offers extended stay hotels through its Element brand. The companys vacation ownership and residential segment, is engaged in the development, ownership and operation of vacation ownership resorts, marketing a
13、nd selling of vacation ownership interests, purchase financing, licensing fees from branded condominiums and residences, and sale of residential units. As of December 2011, the company owned 22 vacation ownership resorts and residential properties (including 13 stand-alone, eight mixed-use and one u
14、nconsolidated joint venture) in the US, Mexico and the Bahamas. The company offers vacation ownership and residential services through Starwood Vacation Ownership and its hotel brands. Key Metrics The company recorded revenues of $3,285 million in the fiscal year ending December 2011, a decrease of
15、35.2% compared to fiscal 2010. Its net income was $489 million in fiscal 2011, compared to a net income of $477 million in the preceding year. China - Hotels & Motels 0099 - 0520 - 2011 MARKETLINE THIS PROFILE IS A LICENSED PRODUCT AND IS NOT TO BE PHOTOCOPIED Page | 28 Table 17: Starwood Hotels & R
16、esorts Worldwide, Inc.: key financials ($) $ million 2007 2008 2009 2010 2011 Revenues 6,153.0 5,754.0 4,756.0 5,071.0 3,285.0 Net income (loss) 542.0 329.0 73.0 477.0 489.0 Total assets 9,622.0 9,703.0 8,761.0 9,776.0 9,560.0 Total liabilities 7,546.0 8,082.0 6,937.0 7,290.0 6,605.0 Employees 155,0
17、00 145,000 145,000 145,000 154,000 SOURCE: COMPANY FILINGS M A R K E T L I N E Table 18: Starwood Hotels & Resorts Worldwide, Inc.: key financial ratios Ratio 2007 2008 2009 2010 2011 Profit margin 8.8% 5.7% 1.5% 9.4% 14.9% Revenue growth 2.9% (6.5%) (17.3%) 6.6% (35.2%) Asset growth 3.7% 0.8% (9.7%
18、) 11.6% (2.2%) Liabilities growth 20.3% 7.1% (14.2%) 5.1% (9.4%) Debt/asset ratio 78.4% 83.3% 79.2% 74.6% 69.1% Return on assets 5.7% 3.4% 0.8% 5.1% 5.1% Revenue per employee $39,697 $39,683 $32,800 $34,972 $21,331 Profit per employee $3,497 $2,269 $503 $3,290 $3,175 SOURCE: COMPANY FILINGS M A R K
19、E T L I N E Figure 17: Starwood Hotels & Resorts Worldwide, Inc.: revenues & profitability SOURCE: COMPANY FILINGS M A R K E T L I N E China - Hotels & Motels 0099 - 0520 - 2011 MARKETLINE THIS PROFILE IS A LICENSED PRODUCT AND IS NOT TO BE PHOTOCOPIED Page | 29 Figure 18: Starwood Hotels & Resorts
20、Worldwide, Inc.: assets & liabilities SOURCE: COMPANY FILINGS M A R K E T L I N E China - Hotels & Motels 0099 - 0520 - 2011 MARKETLINE THIS PROFILE IS A LICENSED PRODUCT AND IS NOT TO BE PHOTOCOPIED Page | 30 MACROECONOMIC INDICATORS Country Data Table 19: China size of population (million), 200711
21、 Year Population (million) % Growth 2007 1,321.3 0.5% 2008 1,328.0 0.5% 2009 1,334.7 0.5% 2010 1,339.7 0.4% 2011 1,346.3 0.5% SOURCE: MARKETLINE M A R K E T L I N E Table 20: China gdp (constant 2000 prices, $ billion), 200711 Year Constant 2000 Prices, $ billion % Growth 2007 2,455.4 14.2% 2008 2,6
22、91.9 9.6% 2009 2,940.0 9.2% 2010 3,245.7 10.4% 2011 3,544.4 9.2% SOURCE: MARKETLINE M A R K E T L I N E Table 21: China gdp (current prices, $ billion), 200711 Year Current Prices, $ billion % Growth 2007 3,494.2 28.8% 2008 4,520.0 29.4% 2009 4,990.5 10.4% 2010 5,928.1 18.8% 2011 7,298.1 23.1% SOURC
23、E: MARKETLINE M A R K E T L I N E China - Hotels & Motels 0099 - 0520 - 2011 MARKETLINE THIS PROFILE IS A LICENSED PRODUCT AND IS NOT TO BE PHOTOCOPIED Page | 31 Table 22: China inflation, 200711 Year Inflation Rate (%) 2007 4.8% 2008 5.9% 2009 (0.7%) 2010 3.3% 2011 5.4% SOURCE: MARKETLINE M A R K E
24、 T L I N E Table 23: China consumer price index (absolute), 200711 Year Consumer Price Index (2000 = 100) 2007 113.7 2008 120.4 2009 119.6 2010 123.5 2011 130.2 SOURCE: MARKETLINE M A R K E T L I N E Table 24: China exchange rate, 200711 Year Exchange rate ($/CNY) Exchange rate (/CNY) 2007 7.6172 10
25、.4228 2008 6.9623 10.1875 2009 6.8409 9.5123 2010 6.7788 9.0005 2011 6.4544 8.9794 SOURCE: MARKETLINE M A R K E T L I N E China - Hotels & Motels 0099 - 0520 - 2011 MARKETLINE THIS PROFILE IS A LICENSED PRODUCT AND IS NOT TO BE PHOTOCOPIED Page | 32 APPENDIX Methodology MarketLine Industry Profiles
26、draw on extensive primary and secondary research, all aggregated, analyzed, cross- checked and presented in a consistent and accessible style. Review of in-house databases Created using 250,000+ industry interviews and consumer surveys and supported by analysis from industry experts using highly com
27、plex modeling & forecasting tools, MarketLines in-house databases provide the foundation for all related industry profiles Preparatory research We also maintain extensive in-house databases of news, analyst commentary, company profiles and macroeconomic & demographic information, which enable our re
28、searchers to build an accurate market overview Definitions Market definitions are standardized to allow comparison from country to country. The parameters of each definition are carefully reviewed at the start of the research process to ensure they match the requirements of both the market and our c
29、lients Extensive secondary research activities ensure we are always fully up-to-date with the latest industry events and trends MarketLine aggregates and analyzes a number of secondary information sources, including: - National/Governmental statistics - International data (official international sou
30、rces) - National and International trade associations - Broker and analyst reports - Company Annual Reports - Business information libraries and databases Modeling & forecasting tools MarketLine has developed powerful tools that allow quantitative and qualitative data to be combined with related mac
31、roeconomic and demographic drivers to create market models and forecasts, which can then be refined according to specific competitive, regulatory and demand-related factors Continuous quality control ensures that our processes and profiles remain focused, accurate and up-to-date China - Hotels & Mot
32、els 0099 - 0520 - 2011 MARKETLINE THIS PROFILE IS A LICENSED PRODUCT AND IS NOT TO BE PHOTOCOPIED Page | 33 Industry associations China Hospitality Association North Street, Xicheng District, Beijing Yuetan 25, 100834, China Tel.: 86 010 68391448 Fax: 86 010 68391411 China Tourist Hotels Associatio
33、n Building 1303, Xihu District, 199 Venture Man 3 Road, Zhejiang Province, Hangzhou, China Tel.: 86 0571 28115600 Fax: 86 0571 28115601 www.ch- International Hotel and Restaurant Association 87, rue Montbrillant, 1202 Geneva, Switzerland Tel.: 44 22 734 80 41 Fax: 44 22 734 80 56 www.ih- Related MarketLine research Industry Profile Global Hotels & Motels Hotels & Motels in Asia-Pacific Hotels & Motels in Japan MARKETLINE | 119 FARRINGDON ROAD | LONDON, UNITED KINGDOM, EC1R 3DA T: +44 161 238 4040 | F: +44 870 134 4371 REACHUSMARKETLINE.COM
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