Busan to ease lodging-cost burden for Fireworks Festival visitors... City unveils 34 fair-priced accommodations

[Financial News] Busan City has identified and publicized establishments that practice fair pricing so tourists visiting for the Busan Fireworks Festival can stay at reasonable rates. The disclosure is intended to help tourists visiting Busan plan their trips conveniently using a range of accommodation information and to foster a culture of voluntary fair pricing in the lodging industry. 
On the 4th, the city announced that it would publicize 34 fair-priced accommodations ahead of the 21st Busan Fireworks Festival, which will be held on the 7th.
The city compared and analyzed accommodation rates for the day of the festival and the adjacent weekend at 157 lodging establishments within a 500-meter radius of the festival venue.
An analysis of accommodation rate changes posted since the 26th of last month on five online booking platforms—Yeogi Eottae, Yanolja, Trip.com, Agoda and Naver Booking—found that the average rate increase was 94.5%.
Of the 157 lodging establishments surveyed, 85 had rate increases of less than 100%, 57 had increases of at least 100% but less than 200%, and 15 had increases of 200% or more.
The city selected 34 establishments whose accommodation rates rose by no more than 20% on the day of the festival, that honored the rates announced in advance, and that had no reports of hygiene-related issues or violations of laws.
Information on the 34 selected fair-priced accommodations will be available on the Busan tourism portal Visit Busan through the 8th.
The city plans to actively promote establishments that maintain reasonable accommodation rates and encourage voluntary fair pricing in the lodging industry.
Through this, the city plans to ease tourists’ lodging-cost burden and boost confidence in Busan tourism.
Na Yun-bin, head of the city’s Tourism Content Industry Bureau, said, "We will continue to raise tourist satisfaction while encouraging the lodging industry to voluntarily practice fair pricing, thereby creating a tourism environment in which tourists and the lodging industry can thrive together." 
[email protected] Kwon Byeong-seok Reporter