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London Hotels Expect Less from Olympics

As the summer Olympic Games in London approach, more and more hoteliers become less optimistic concerning their occupancy and revenues during the games. According to latest surveys, their expectations have not materialized yet and bookings are not likely to skyrocket during the remaining time.

According to the report published in London’s Daily Telegraph, visitors now can book hotels rooms for less comparing to their previous price. For example, rooms that were previously marketed for £210 (US$327) now can be booked just for £160 (US$249). A room for two at the 4-star hotel Britannia International located at Canary Wharf now can be booked for £259 (US$403). Compare it to original price of £395 (US$615). At the same time a room for two at London Ealing Hotel (3 stars), which is located on Ealing Common, will cost you £121 (US$189). This is less than the previous rate of £150 (US$234).

London hoteliers increased their rates greatly when a huge number of rooms was booked by Locog, the organizer of the games. Some hotels in London even made a “minimum-stay rule” and did not accept bookings for one or two nights. However, later Locog released thousands of hotels rooms as unwanted.

Even though the rates went down, they are still 75% higher comparing to the same period of 2011. By cutting down their rates, many hoteliers hope to attract many short-term visitors, especially from northern Europe and the rest of the UK.

15.07.2012

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