Olympic Games 2012: Business Booming for UK Hotel Industry
With the Olympic Games kicking off next week, emerging data reveals that the UK hotel industry is experiencing a much needed boost in business.
The average daily rate (ADR) is 55% higher than this point last year, the average London hotel price to £193.30.
Data from TravelClick also reveals that committed occupancy across the capital currently stands at 45.7%, four times higher than last year.
Demand from China
The Olympic Games is attracting demand from newer source markets – in particular, China.
Sales of air flights to London have increased by 158% for one website aimed at Chinese consumers, Taobao.com (sister company to Alibaba.com).
This figure compared bookings from June 2012 and May 2012, and there will be no let-up on the amount of Chinese visitors to the UK capital as the figure is expected to increase by 100% between June 2012 and July 2012.
“Chinese tourists are one of the largest spenders in the UK and we should continue to encourage them to our shores and help boost the UK’s tourism industry,” explains Alibaba.com EMEA, senior manager for international corporate affairs, Molly Morgan.
“With British-made goods becoming more popular and the ever-nearing Olympics due to take place, businesses should be gearing up for the influx of Chinese travellers.”
Olympics Opening Ceremony: Busiest Day
The busiest day in the Capital so far during the Olympics is the night of the opening ceremony (July 27), closely followed by Tuesday August 7.
Meanwhile, average prices reach a high of £203 on both Friday August 9 and Saturday August 10, coinciding with the last track finals such as the relays. Prices reach a high of £209 for the closing ceremony (August 12).