Room rates at hotels in London during the Olympic Games have returned to normal levels, according to a UK-based wholesaler.
JacTravel said it had observed a “substantial decline” in hotel rates during the Games, and that average room prices have now returned to normal levels following previously inflated rates. The company noted that just two months ago rates during the Games had been up to 300% higher than normal, but these fell steadily as the Games approached. Rates after the Games are either back to normal or, for some hotels, 15-20% lower than the same period last year due to promotional rates, JacTravel added.
“At last, we’re back to near normal summer rates and normal cancellation terms. Last minute visitors from Continental Europe can now also take advantage of very good prices on the Eurostar to London during the Games. Olympic tickets are still available, particularly for the football, and bargains are to be had for many of the top shows in the West End. After the Games, London will effectively be ‘on sale’,” said JacTravel’s director, Angela Skelly.
According to the company’s data, four-star hotels quoting wholesale rates of £300-400 have dropped them by around 65% to £109-150. Declines in the lower categories have been even more substantial, with some two-star properties cutting trade prices 75% from £200 to £50.