Average hotel prices have fallen by 25% for the Olympic period
LONDON, June 28, 2012 /CNW/ - With one month to go to the start of
London 2012, research by Hotels.com shows that hotel prices in London
during the Olympics have fallen around 25% over the last two weeks.
The average cost of a hotel room in the capital for the Games period now
stands at GBP160, still 75% up on the same time last year but this
masks that fact that there are rooms available in the city for much
less, such as GBP59 a night in some instances, depending on the date of
Hotels.com, one of the world's leading accommodation booking websites,
has identified three main reasons why rates are dropping:
1) There is more availability in the market - many of the rooms which
LOCOG had reserved for the world's media, International Sport
Federations, the IOC, people working at the Games and sponsors have now
been released back into circulation and several hotels have also opened
over the last few months, increasing the total number of rooms
2) Many hotels have started to remove their length of stay restrictions
and are selling more rooms for one night stays.
3) Demand has not been as strong as originally expected as tour
operators in particular booked their regular groups to other European
capitals, giving London a miss this year.
"Falling prices are an encouraging move for consumers and there is good
availability across London in all classes of hotel" said Seamus
MacCormaic of Hotels.com.
"We are seeing promotional prices start to come through and we do expect
this trend to continue," MacCormaic continued. "So people should not be
put off travelling to London even if they don't have a ticket. There is
still plenty to see and do away from the Olympic Park to soak up the
atmosphere and enjoy the spirit of the Games."
Hotels.com is a leading online accommodation booking website with more than
150,000 properties around the world, ranging from international chains
and all-inclusive resorts to local favourites and bed & breakfasts,
together with all the information needed to book the perfect stay. Hotels.com is part of Expedia, Inc., the world's largest online travel company.
For further information:
Email email@example.com or call: Lizann Peppard, +44(0)20-7019-2265, Katherine Hopcraft, +44(0)20-7019-2165, Yvonne Bonanati, +44(0)20-7019-2815