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November

November (1)

Tuesday, 19 February 2013 11:30

The Beijing Hotel Boom

Written by

The 2008 Beijing Olympics certainly put China’s capital city in the global travel spotlight, judging from the spike in hotel development that preceded the event. Granted, increased room-supply exceeded demand by Olympic visitors to Beijing. According to the Aug. 21, 2008 issue of BusinessWeek, Beijing has a full one-fifth, or 5,790 more hotels than it did at the end of 2007. Smith Travel Research Outlook for the Chinese hotel industry reports that new hotel openings in Beijing and lighter than expected pre-Olympic demand caused occupancy to drop 10.7 percent to 61.8 percent. Although the 2008 Olympics have come to a close, these hotels are still open for business and in need of putting heads in beds. For the traveling public, this translates as future opportunity to visit Beijing at nightly rates that don’t reflect Olympic inflation.

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