Capsule hotel hits it big with budget travelers

SHANGHAI - The very first capsule hotel to be opened in the city has attracted many budget travelers with its prices, even though it is not fully operational yet.

"I come to Shanghai quite often and it's a nice place to stay - it's cheap and clean," said Luo Yong, a 26-year-old graduate student from East China's Shandong province.

The basic rate is 28 yuan ($4.22) per person, plus an additional 4 yuan an hour. The hotel also offers a package of 68 yuan for 10 hours and 88 yuan for 24 hours.