Beijing Hotels See Olympics Rate Surge While Other Chinese Cities Sputter
Photo Credit: The Winter Olympics sparked a surge in prices for hotels in Beijing, but the performance pop is highly concentrated. PxHere / Stefan
Skift Take
A largely closed-off international sporting event in China’s capital city means the historically fickle Olympic bump in hotel business is more likely to be an Olympic blip.
The Winter Olympics host city this week is one of the few major markets in China that has something to boast about regarding hotel performance.
Daily rates at hotels in Beijing were nearly double 2019 levels due to the ongoing Winter Olympics, according to STR’s most recent data set which included the first full day of the competition. This was in response to potential business from media and anyone allowed to attend the largely closed-off sporting event and who weren’t athletes staying in the Olympic Village.
The daily rate figure is still something to brag about, as hotel companies around the world have been able to accelerate their recovery out of the pandemic by maintaining or charging higher rates while occupancy takes longer to rebuild. A rate recovery following deep discounts usually aimed at stir
