London Hotel Prices Double In 2012

London Loympics 2012Hotel prices are expected to more than double in London during the 2012 London Olympics and as a result, tourists will desert the capital according to the latest market research.

Londons 120,000 hotel rooms, during the two weeks of sports, are expected to see unprecedented levels of demand. The London Organising Committee have already reserved 50,000 for officials, dignitaries and the worldwide media expected to be around the 23,000 figure!

Sadly however tourist trade for the rest of the summer appears to be heading for an alarming 80% drop, as tour operators fear they’ll be priced out of the market.

The biggest beneficeries of the Olympics are expected to be the home county towns, with visitors wishing to avoid the mayhem of central London, opting for a quite stay within easy commute of the Olympic sites.

Rubicon managing director for Europe, Andy Storey, warned hoteliers to price reasonably to prevent putting off customers, saying “Our study clearly shows how hotels should be mindful of losing the revenue they make during the Olympics.”

“It is no surprise that hotels will be busy during the event itself, but London properties should heed warnings and set pricing and market accordingly.”

The head of VisitBritain, Chris Rodrigues, acknowledged this week that fewer tourists would come to the UK as a result of London hosting the Games, saying the drop was inevitable whilst speaking at the ABTA Travel Convention.

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