TravelClick, a company that claims to offer revenue-generating solutions for hoteliers, has reported an update on hotel occupancy for the Olympic Games, which commence in London today.
The company has reported that two days prior to the commencement of the 2012 games, hotels were reporting a committed occupancy average of 80.4 percent for the Games period. The hotels have reported that their busiest night is July 31, 2012, when the committed occupancy rises to 85.8 percent. The company is citing the men’s road cycling individual time trial final, which takes place the next day, as the reason for packed houses at most hotels on that preceding night.
However, hotel prices during the Games are currently showing an increase of 70 percent on average, compared to the same time last year. The highest rates are expected t be for August 5, 2012, when they will peak at GBP193 per night. On that day the country is expecting a record-breaking sprint from Usain Bolt in the men’s 100m final event.
Meanwhile, hotel price comparison website, Trivago, has reported that London hotel prices have actually decreased by around 17 percent since last week, as the 2012 Games commence. According to the company, there is still around 30 percent excess capacity for the duration of the Games at hotels in London, so last minute travellers are advised to shop around for a bargain deal.
The company has also reported that hotel prices will be falling by around 35 percent immediately after the Games end, to an average of GBP130 per room, per night, making this the best time to acquire accommodation for leisure and business travel to the city.