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Hotels in London Raise Their Rates up to 5 Times for Olympics

News In less than 500 days London will host 2012 Summer Olympics. The popularity of this event is hard to overestimate and so hotels in London expect thousands of visitors, and greet them with… highly increased rates for the period matching the Games.

Special rates are several times bigger than normal price per guestroom. This trend is spread on multiple London accommodations, making even Olympics organizers worry. In his interview to Financial Times, Mario Bodini, the general secretary of UKinbound, tells even tour providers are shocked by appetites of some hoteliers. The organizers of the Games worry that not many visitors will agree to pay a price that is 5 times higher than the regular one and simply decide not to visit Olympics.

Visit Britain, the government tourism agency, has already made a statement asking hoteliers to set up fair prices for the Olympics. Currently the majority of hotels don’t list their rates yet as there’s still too much time until late July – early August 2012. First information is delivered by wholesale tour companies and it concerns 4-star hotels in London. These hotels change enormous rates – around £1,100 per room, which is 5 times higher than average rate and even more expensive than in 5-star luxurious hotels.

Financial Times reports of another unpleasant surprise – 100% cancellation fee for bookings during Olympics.

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