The COVID-19 pandemic has caused thousands of hotels in China to close doors since the start of 2020.
Some 74.29% of the Chinese hotels and inns have ceased operation, with an average closed period of 27 days, according to data from the China Hospitality Association.
The accommodation industry which includes hotels and homestay businesses loss more than RMB 67 billion (USD 9.5 billion) in the first two months this year.
Data from enterprise information provider Qichacha show that only 66,000 hotel-related new companies were registered in the first quarter, the lowest number in the past five years, down by 38% from the first quarter of 2019.
(number in ten thousands)
Some 13,000 hotel-related companies have withdrawn from registration in the same quarter. (Translated by Jerry)