London hotel rates double for Olympics

Hotel rates in London have already more than doubled for stays during the Olympic Games this summer, according to the latest data from TravelClick.

The hotel market research firm said that the average daily rate for London hotels was up by 118.2% across the 16 days of the games from July 27 to August 12 compared to hotel rates at the same time in 2011.

TravelClick said that committed occupancy for London hotels during the Olympics was currently at 45.7% which is up by more than 300% compared to the same 16 days last year.

The company said that committed occupancy was “fairly consistent” across the duration of the Olympics although the busiest night so far was for the opening ceremony on July 27 with a 46.9% occupancy rate – a 443% increase on the same day last year.

Major TMCs such as American Express Business Travel have said that they expect most business travellers to avoid London during the Olympics period and to schedule meeting before and after the event.

Transport for London has urged corporate buyers to discourage their travellers from attempting to travel in certain areas of the city during peak periods during the Olympics.