Advanced Search
Business | Metro | Nation | World | Sports | Features | Specials | Delta Stories
Hotel prices soaring before holiday
22/9/2006 15:48

Wendy Zhang/ Shanghai Daily news

Frequent exhibitions and business events have driven up the hotel prices in Shanghai by an average of 10-40 percent just before the National Day holiday, while the prices are expected to drop during the holiday, today's Youth Post reported.
Five-star hotels have seen the largest price increase of 25-40 percent, with an average occupancy rate of more than 85 percent. From September 29 to October 1, Shanghai Marriott Hotel Hongqiao will charge 2,070 yuan (US$261) for its luxury room per night, more than double that of today's fee (958 yuan) and more than three times the price during the week-long National Day holiday (599 yuan).
From September 25 to October 1, other five-star hotels such as Hilton Hotel and Shanghai JC Mandarin will at the very least double their prices.
Various business conferences and activities are cited as the main reason for the price hikes. Up to six exhibitions have been held at the Shanghai New International Expo Center this week alone.
The lack of business activities and events during the holiday will drag down the prices of hotels, with luxury ones reportedly seeing a price slump of 40-60 percent. However, a growing number of tourists to the city will drive up the demand for budget hotels.