Olympic hotel prices drop by 25 per cent

by Jessica MCILHINNEY on June 26, 2012

The cost of staying in a hotel in London when the Olympic Games are being held has dropped by roughly a quarter over the past two weeks, as alleged by new research.

Average room rates around the capital from July 27 to August 12 currently stand at £160 per night – which is still a jump of 75 per cent when measured against the same time in 2011 yet still down significantly from the £202 banded around earlier this month. Booking website Hotels.com, the publisher of the figures, commented that a large amount of rooms are available for far less and start at around £59 per night.

Hoteliers across the capital have been criticised for attempting to cash in on the anticipated influx of tourists that will head to London this summer. Last year, it was reported that many visitors were asked to pay anything up to 10 times more than the rate they would usually pay for a room in the particular hotel they were interested in.

Worryingly for hotel owners in the capital, such high prices seem to have put off the majority of ordinary summer holidaymakers. Just last week, one inbound tour operator claimed that bookings for London breaks were down by at least 35 per cent. Similarly, Trivago.com, a hotel bookingsite, reported that 36 per cent’s worth of hotel rooms around the capital are still unsold for dates during the Olympics.

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