I was going to ask the same question.
In October 2019 I booked a room in a hotel in San An for June 2020 at a decent price. I checked the prices several times during the following weeks, and the prices (for June 2020) seemed to remain at the same level throughout autumn. Sadly, the trip got cancelled because of rona.
When I booked the exact same type of room at the same hotel for June 2021 just a week ago (late December 2020), the price was 50 percent higher than the year before. I thought perhaps prices would have dropped, or at least stayed at the same low-ish level as before.
What am I missing?