Beijing hotel rates down 30%

I read an article on CNN today about how many 2-4 star hotels in Beijing are cutting their rates by as much as 30% due to unexpectedly low tourist demand. Apparently, the scarcity of event tickets, high cost of airfare, and visa restrictions are deterring many would-be visitors. Luckily, we already have plans to stay with my family in Beijing though we also ran into difficulty securing visas for the trip.