Hotels to witness large price rise during Olympics

Chinanews, Beijing, July 25 - How high will the hotel price go during the Olympic Games next year? How many hotels have received reservations for the Olympic Games now? In an attempt to find answers to these questions, the Beijing News recently carried out a survey about hotel reservation for the Olympic Games. Of the 37 hotels covered in the survey, 54.1% have not launched the hotel reservation services for the Olympic Games. 17 hotels have launched such service. Their prices of guest rooms for the Olympic Games could be as high as 7 times the current price.
The 37 hotels included in the survey were randomly selected from the list of star-rated hotels published by the Beijing Tourism Administration website and some were chosen from hotels in society. In return, the Beijing News got 37 answer sheets. The result shows that low-rated hotels will witness the highest price rise during Olympic Games.
Among the 17 hotels that have launched hotel reservation services for the Olympic Games, 6 claim that the guest rooms in their hotels have already been fully booked at that time. For 5 hotels, the price of their guest rooms during the Olympic Games will be 7 times as much as the current price. For 7 other hotels, the price of their guest rooms will increase by less than 5 times during the Olympic Games. 6 hotels refuse to disclose the price of their guest rooms for the Olympic Games.
Of the two hotels whose price will increase by 5 times during Olympic Games, one is a three-star hotel and the other is a two-star hotel. The former hotel said they had just been rated as a three-star hotel and the standard price for a guest room in this hotel now stands at 240 yuan per night, while during the Olympic Games, the price of the same room might soar to 2,000 yuan per night. The other hotel said they now only accept reservations from companies. Reservation service for individuals will not be available until early August. Currently, the lowest price for a normal guest room is 408 yuan per night while the price of guest rooms for companies that have made reservations is 320 US dollars (2,560 yuan)per night.