Beijing Hotel prices increase dramatically for Olympics

It should come as no surprise that the price of hotel rooms in Beijing are going to get a bit crazy this summer, but thanks to Ctrip.com, a Shanghai-based travel booking site, the numbers are stunning to say the least, with hotels charging anywhere from four to ten times their regular rates for stays during the games.

‘Only some 20 hotels in Beijing still have rooms available for reservation by foreign tourists during the period. However, most probably, only luxury suites are left for them to choose,’ reports Ctrip’s senior hotel business developer Tang Xiaofeng.

The four-star JinLun hotel and its central location have made out quite well fleecing visitors by charging about $850 per night compared to its regular rate of $140. Hotels in Beijing are also using their leverage to ask for full payment in advance with no flexibility on refunds if they should cancel the reservation. Some hotels are also only accepting reservations for five days or longer, with many only providing suites at insane prices left available now.