Hotel room prices to rise but not 'skyrocket'

Beijing's hotel industry is not likely to see skyrocketing prices during the Olympic games, due to the sufficient market supply and the impact of the Sichuan earthquake, experts said.

Industry insiders previously expected hotel prices during the Olympic games to skyrocket eight to 10 times above the usual price, but a recent survey in June showed that the price may finally rise only three to five times higher than average.

Statistics from Beijing Tourism Bureau show that there are 5,892 hotels and other institutions offering 336,000 rooms and 660,000 beds during the Beijing Olympics, exceeding the supply available at the Athens and Sidney Olympics. So far, 77 percent of Beijing's five-star hotels and 44 percent of four-star hotels have been booked.