Hotel Prices Double with the Arrival of the Universiade
With the Universiade fast approaching, hotels in Shenzhen have been raising their prices. Hotels found downtown have been raising prices up to 15 to 20 percent, prompting the city to impose a temporary ceiling to maintain stable prices for hotels.
Price ceilings were also implemented on restaurants, car rental businesses and travel agencies to prevent any further increase in their published prices. However, cheap hotels have been offering discounts in hopes of attracting customers during the ten-day event. Most hotels have their rooms booked a day before the opening of the games with standard room rates at 880 yuan, which is double the normal price.
Normally the occupancy rate of hotels will be above 75 percent since travel peaks in August in Shenzhen. Prices for hotels located near the Shenzhen Bay, the site for the opening ceremony, are either fully booked or almost sold out.
The city is estimating that around 8.3 million tourists will be in Shenzhen to witness the games.