After the Olympic Games: Hotel Bookings Grow
There has been much debate over the economic legacy of the Olympic Games 2012, and many pundits fear a post-Olympics slump. However, new data reveals that bookings remain strong for UK hotels in the period directly after London 2012.
Data from TravelClick reveals strong demand for London hotels over the August bank holiday immediately following the Olympic Games closing ceremony.
Occupancy for London hotels is currently showing an improvement of 24.2% on last year with almost a third of rooms in the city already sold for the bank holiday.
Rates are also up by 25.2% between 24 and 27 August 2012, reaching £128.59.
“Our research after the Vancouver Winter Olympics in 2010 showed critical insight into the demand trends for hotels when they over-price rooms for special events, since it has the tendency to result in an immediate drop-off in business after the spike associated with the Olympic Games,” said Jan Tissera, international president of TravelClick. “So far it appears London hoteliers are not falling into that trap.”
“The capital has solid interest throughout the Bank Holiday Weekend, and although prices are up in comparison to last year, the rises are being kept in line with the demand. We hope this trend continues into the autumn when business traveller demand begins to rise in comparison leisure customers.”
TravelClick’s data – which is drawn from travel agents, online booking sites and the hotel chains themselves – also reveals that Saturday, August 25 is the busiest day of the holiday weekend, with confirmed occupancy currently standing at 38.1% according to reservations currently on the books.