London hotel prices over the Olympic period have fallen by around 25% over the last two weeks, new research by Hotels.com has shown.
Although the average cost of a hotel room in the UK capital during the games now stands at GBP160 (AU$248), an increase of 75% on last year. the website revealed there were many rooms available for much less. Rooms could be found for just GBP59 (AU$91) in some cases, depending on the date of stay.
Hotels.com director of market management UK & Ireland Seamus MacCormaic said the dip was partly due to the release of rooms that had been reserved by the Olympic organising committee, more hotels permitting one-night stays and weakened demand as tour groups headed to other cities in Europe.
“Falling prices are an encouraging move for consumers and there is good availability across London in all classes of hotels,” MacCormaic said.
“We are seeing promotional proces start to come through and we do expect this trend to continue.”