I need to spend 3 or 4 nights in Canberra in late October, and I was planning to stay at the only ICG hotel there: the CP. However, their prices on weekdays start from AUD 338 or AUD 375 on the flexible rate. For the same dates, the CPs in Sydney's price range from AUD 154 to 203, and the IC is only AUD 243.

I'm attending an exhibition, but it's a small one, surely this can't be the reason for such rates, as they are the same on the previous week. And also the Novotel nearby is way cheaper.

Anyone knows the reason why? Thanks.