Sydney Hotels Cut Room Rates Before Olympics

SYDNEY   Some hotels in Sydney are slashing their Olympic room rates by 20% to 50%. Various media reports have suggested that hotel prices outside the center of Sydney are being discounted; however, those in the CBD have yet to offer reduced rates.

A year ago, games and tourism officials were expecting to draw 700,000 visitors to the Olympics, but now the city estimates only about 450,000 guests, which could leave a lot of empty seats and empty guestrooms. (8/24/00)