Beijing hotels have performed well and reaped strong profit since the Olympic Games opened on August 8, according to global business advisory firm Deloitte.

Olympic strips and logos decorate Beijing Hotel in this photo taken on July 23, 2008. Hotels in Beijing have performed well and reaped strong profit since the Olympic Games opened on August 8, according to global business advisory firm Deloitte. [Photo: Asianewsphoto]

The auditing giant's review showed on the Games opening night revenue per available room (revPAR) in the Chinese capital's hotels increased 546 percent to $390 from the same period a year previously.

In addition, occupancy reached 86.3 percent while average room rates increased 421 percent to $451 (up $364 from the average of US$87 on the same day in 2007).

The review said the two nights following the opening also saw strong growth in occupancy and average room rates. Undoubtedly, more days like this were expected during the remainder of the Games which close August 24.

"This is a fantastic start to the 29th Olympic Games and no doubt hoteliers are celebrating this success," said Marvin Rust, Deloitte's hospitality managing partner.

"After seven years of planning, and billions of dollars being spent in the city, it is clear that Beijing is already reaping the benefits, not only by putting on a dazzling opening ceremony but also in the city's hotels. Hoteliers in London will be looking forward to 2012," he said.

In contrast, Beijing Municipal Statistics Bureau (BSB) figures showed a slight increase in hotel occupancy since the Game's opening.

According to the bureau, the city's star-rated hotels received about 78,000 guests on August 12, half from the Chinese mainland and the rest from overseas.

The figures were about 5 percent higher, or 4,000 guests, more than August 8.

Prices for hotels rated below three stars also went up slightly on August 12, while for those rated three stars or above were down slightly from August 8, the bureau said.

(Xinhua News Agency August 21, 2008)