Beijing Boyce

Stock up on Qingdao next July - according to China Briefing blog, some higher-end bars and restaurants have “done deals with international events organizations during the Olympics, and sold rights to use the venue during this time.” The event companies then sub-lease the venues to corporate clients. The blog cites The Pavillion as an example:

[The] owner told me of the deal he’d arranged and the likely consequences to regulars. ‘It’ll be up to US$100 just to get in,’ he said, ‘and many of the venues will be invitation only’.

We may need to rewrite the Beijing Olympics slogan, though the “dream” part may still well apply, since that’s what we’ll likely be doing if we expect to patronize some places.

One industry insider says the going rate for good spots is in the area of USD30,000 per day, while another, who says he has been advising companies on events since this spring, estimates “90 percent of decent places have gone.” [Note: I'm not sure how "decent" is defined.]

“A company I was working for came over last month - [it] really struggled to find a decent venue that wasn’t booked,” he says. “Bidding wars are already on… many bars will make their startup money back and more just in August 2008. If they can last that long.”

Expect more on this story…