Hotel rates down significantly in 2010
After coming back from the Christmas/New Year holiday, I started to plan my stays this year. Surprisingly, I found the rates of Marriott family hotels in Shanghai have gone down significantly this year compared to last year. JW Marriott is down about 30%; Renaissance Zhongshan Park down 18%; Renaissance Yuyuan down 15%.
I noticed some SPG and IC properties' rates have gone down too. Le Royal Meridien down close to 30%; IC Pudong down 20+%.
Glad that the hotels in Shanghai have come to some senses now, especially given the tremendous rise in real estate prices in the last two years.