Unusual honesty from the Shanghai Daily which makes you wonder if they’re not actually gloating:
HOTELS in Beijing are slashing prices for next month’s Olympics after the expected windfall of visitors failed to materialize, hotels and travel industry executives said yesterday.
Fan Runjun, of travel Website Ctrip.com, said many two to four-star hotels had reduced prices by 10 to 20 percent compared to May and June and some had slashed rates by as much as 30 percent.
The usual pre-Olympic festive atmosphere host cities experience has not yet hit Beijing. In June, the number of visitors to the capital declined by 19.9 percent from a year earlier, according to the Beijing Tourism Authority.
Average room prices in three-star hotels are now down to 400 yuan (US$60) a night from 700 yuan in previous months. Four-star hotels have dropped prices to about 800 yuan a night from 1,500 yuan.
The last we heard, youth hostels have also jacked up their rates to RMB400 per bed per night, so our friends in Shanghai have shelved off their Olympic plans. Good luck to the youth hostels.
Shanghaiist also can’t help but snigger at all the greedy Beijing landlords that were forcing their tenants out in the hopes of renting their apartments out to foreigners at ridiculous daily rates, only to find the world now crashing on them. If any of you needs a part-time job managing short term renters, get in touch with Dan Brody — now.
And for those of you that are still fretting over where to stay in Beijing, check out this apartment which is available anytime now at US$100 a day — what a bargain!
Photo from Kriz Dux