China's hotel industry is currently waging a war of capital. It is predicted that during the Beijing 2008 Olympic Games, hotel occupancy rates will range from 80 to 88 percent, and the average room rate will be 900-950 yuan per night. Beijing Fortune Center's Intercontinental Hotel is currently under construction. Park Hyatt, Hyatt International's top-grade hotel, will be operational by early 2007. Construction of a Ritz Carlton and a Marriott hotel, backed by a Thai investment company, will be completed in June 2007. Beijing now has 614 star-rated hotels, a figure expected to jump to 800 by 2008.