Homestays Gaining Popularity

Alongside the advent of the sharing economy and the prosperity of the recreational and tourism industries, there is growing demand for accommodation. In comparison with hotels, homestays have become increasingly popular. According to a report on china1baogao.com, an industry consultancy, the online reservation market for homestays in China is expected to hit 30 billion yuan (US$4.2b) in 2020, up from 12.7 billion yuan (US$1.8b) in 2017. Industry analysts argued that homestays have broken the concept that “accommodation is just sleeping,” and only a soothing environment, decoration, space and tailor-made services will meet customers’ expectations of a home away from home. On July 3, the Ministry of Culture and Tourism released the basic requirements and evaluation criteria for homestays in order to regulate the market which is likely to boost the sound development of the industry.