Accomodation in China

I remember reading in the leadup to the Beijing Olympics how there were all these amazing hotels being erected esp in Beijing in preparation for the influx of tourists to the Beijing Olympics and how they predicted that in the aftermath of the Olympics many of them would be relatively empty and as a consequence good bargains would likely be obtained in many hotels due to a relative oversupply.I'm wondering if this has in fact turned out to be the case or not.Any opinions?