Economy
Hotel bookings rocket as Expo nears
By Hou Lei (chinadaily.com.cn)
Updated: 2010-02-24 17:49
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Hotel bookings in Shanghai have increased dramatically as the 2010 World Expo comes nearer, Shanghai Business Daily reported Wednesday.
Room reservations have soared 3.5 times since this January in the financial hub while the hotel room rates have risen only 20 percent, which is good news for visitors, the report said.
Ctrip.com International, a leading consolidator of hotel accommodations in China, has provided hotel room reservation services for Expo visitors since last November.
"The bookings in January are four times as much as the number last December," Shi Yuzhuan, the company's top marking manager told Shanghai Business Daily.
According to Ctrip.com data, the average guest room prices of five, three and two-star hotels during the expo stand at 1500 yuan ($219), 370 yuan ($54) and 250 yuan ($37) respectively.
Shi said since the World Expo has lasted several months, the industry has rational market expectations and the pricing is reasonable. But he did not rule out the possibilities of price adjustment during the Expo and suggested visitors to make reservations as early as possible, the report said.
More than 30,000 guest rooms of Jinjiang Inn, a major economy hotel chain in China, have been booked till now, eight times as much as number in the same period of 2009.
"During the Expo, we will maintain the original price for our members while the non-member prices will rise 10 percent at most," Mr Qiao from the marking department of Jinjiang Inn told Shanghai Business Daily.
"Since the Expo will last a long time, we may also consider increasing the price later based on the market analysis," he was quoted as saying.