Hotel room rates have soared in Beijing since the start of the Olympics with hoteliers taking advantage of the huge increase in visitors, new figures have revealed.
On the opening night of the Olympic Games, revenue per available room (revpar) in the city’s hotels increased 546% to $390 (£209), according to consultancy Deloitte.
Occupancy reached 86.3% while average room rates increased 421% to $451 (£242), an increase of $364 when compared with the same day in 2007.
The following two nights also saw strong growth in occupancy and average room rates with more of the same expected during the remainder of the event.
Marvin Rust, hospitality managing partner at Deloitte, said it was a “fantastic start” to the 29th Olympic Games.
“After seven years of planning, and billions of dollars being spent in the city, it is clear that Beijing is already reaping the benefits, not only by putting on a dazzling opening ceremony but also in the city’s hotels,” he said. “Hoteliers in London will be looking forward to 2012.”
The figures contrast to recent reports which warned that China’s hotel industry was suffering from lower numbers of visitors than expected, and hotels being forced to slash their room rates due to stricter visa regulations and increased security.
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By Gemma Sharkey
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