Olympics hotel rates are falling
Tuesday 10, July 2012
JacTravel, the UK-based wholesaler, best known for its extensive range of hotels online and inbound travel services, is observing a substantial decline in hotel rates this summer, as the Olympic Games deters visitors.
Rates during the Games have recently been falling from very inflated levels and are now around 40% higher than normal. Rates after the Games are currently 15-20% down on the same period last year.
JacTravel, which books over half a million bed nights a year in London, reports that the majority of its hotel partners have opened up availability and reduced rates significantly in the past couple of weeks. For example, four star hotels quoting wholesale rates of £300-£400 have dropped them by around 50% to £160-£165. Declines in the lower categories have been even more substantial, with some 2* properties cutting trade prices 75% from £200 to £50.
JacTravel Director, Angela Skelly, commented: “I welcome all efforts by hoteliers to attract visitors during the Games and would even encourage further action. Hotel prices during the Olympics are now at the kind of levels we expect during events such as Wimbledon or the Chelsea Flower Show. Leisure tourists who are not interested in watching sport, could wait until mid to late August, when there are some excellent bargains to be had.”
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