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 week-long holiday are history,” said Li Wenjie, CEO of Shanghai Yaheng International Travel. “Middle-income tourists are no longer willing to spend freely on accommodation.”