London hotel prices drop
WITH only 60 plus days until the world's top athletes descend upon London to compete for gold, the latest figures from Hotels.com show Australian travellers visiting London to cheer on our athletes, but yet to book accommodation, are better placed to find value for money than they were two months ago.
On the whole, Hotels.com has seen the average price of a London hotel room during the Olympics rise by approximately 93 per cent year-on-year to $325 per night. However, historical data from Hotels.com shows since March this year, the average price has actually decreased by almost $20 a night.
Katherine Birch, Director, Marketing Australia and New Zealand, Hotels.com, was not surprised to see the year-on-year increase in room rates hovering around 100 per cent but coming down slightly in the last month."
"It's inevitable that prices rise in host cities during major sporting events. During the 2010 FIFA World Cup in South Africa, Hotels.com saw hotel prices in Cape Town rise 71 per cent compared to the corresponding period in 2009.
"In London, hotel prices have come down as there are still good deals and availability during the Olympic period. That's not to say prices will continue to drop further so travellers are advised to book now if they see a good deal and not to wait for bargains at such a busy time of year."
The world's leading online hotel booking website found that rates on accommodation vary greatly depending on how close the hotel is to the Olympic action. The most popular nights for hotel bookings are for the Opening Ceremony on July 27 and the first day of the athletics on August 3. On the night of the Opening Ceremony, travellers can get a four star hotel in Central London for $233. In East London, travellers can stay in a three star hotel for $305 per night and there is plenty of budget accommodation available.
Interestingly, search figures from Hotels.com show demand for hotel rooms reflects the top of the medal table from the 2008 Beijing Olympics. Searches[v] are up a whopping 300 per cent in China and 206 per cent in Russia, first and third on the 2008 podium of best-performing countries. Searches are up 92 per cent in the US, which ranked second on the 2008 medal table. Searches among Australian travellers are only up by 21 per cent.