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China luxury hotels hit by downturn

China luxury hotels hit by downturn

Luxury hotels in Beijing have been forced to lay off staff and cut costs as the number of guests has plummeted due to the economic crisis and the swine flu outbreak, state media said yesterday.
The average occupancy rate at the capital's star-rated hotels was 44.5 percent during the first quarter of the year, down from 54.6 percent in the same period a year ago, the China Daily said, citing official figures.
Some hotels even saw the level slump to just three percent, the paper said, citing anecdotal evidence.
"It's slash and burn," said an expat chef at one five-star hotel in Beijing, who was recently asked to resign or face being sacked.
"During the Olympics, rooms were going for 6,000 to 7000 yuan (US$875 to US$1,020) a night. Now they are going for 550 yuan," said the chef.


Updated : 2021-08-04 14:18 GMT+08:00