Oversupply hits falling hotel occupancy rates
Mainland hotel occupancy rates have fallen over the past 18 months, according to a survey by the Ministry of Internal Trade. The survey showed the occupancy rate for Beijing hotels at 50 per cent last year, while in the first half of this year, the average rate dropped eight percentage points. Luxury hotels generally fared better than other accommodation, and non-state-owned hotels performed better than state-owned ones. Industry experts said an oversupply of hotel rooms was to blame.