The Olympic Games didn't bring in the expected turnover for the hotel industry. According to statistics, during the 2008 Beijing Olympics, 5-star hotels in Beijing witnessed a 2.3% decline in occupancy over the same period last year, while Shanghai saw a 10.4% decline. Due to the financial crisis, hotels nationwide suffered further occupancy drop and drastically reduced prices in 2009.
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http://www.hotelsmag.com/article/CA6672408.html
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