China’s hotel room rates disappoint during ‘golden week’ despite tourism boom

AI Summary

Hotel room rates in mainland China were largely unchanged during the National Day Golden Week, falling short of expectations despite a surge in bookings and tourism. Hotel operators and analysts said stronger asset and revenue management may be needed to ease pricing pressure.

Hotel room rates across mainland China fell short of expectations during the National Day “golden week” holiday despite a tourism boom, as company officials and analysts called for stronger asset and revenue management to ease pricing pressure. Hotel tariffs remained largely unchanged from the previous month between October 1 and 7, even as bookings jumped, according to executives at hotel operators and travel agencies. “The days when hotels and resorts could expect a windfall during the...