[photopress:Luxury_hotel_Shanghai.jpg,full,alignright]Four and five-star hotels in Shanghai set new room rate records in 2006, according to Jones Lang LaSalle.
The average room rate in a five-star hotel last year was RMB1,700 per night (US$219). Jones Lang LaSalle found that in some instances, hoteliers would sacrifice high room occupancy in favour of high room rates.
The statistics also showed Shanghai is one of the favorite Asian markets for hotel investors, behind only Tokyo and Singapore. Jones Lang LaSalle found that the biggest drawback of the industry is the extremely limited supply of high quality property available for investment in Shanghai.
Source: TTG