LOWER PRICES AND RISING INTEREST CREATE THE PERFECT STORM

Research by leading online travel company finds average prices falling by 5% and interest in on-line hotel searches increasing by 50% for the Olympic period

With 50 days to go to the start of the Olympic Games, Alison Couper from Hotels.com, a global expert in online travel, says that the combination of falling hotel rates and increased domestic interest points to a memorable summer for consumers and the industry alike.  The travel company has been tracking prices for a hotel room in London during the Olympics and, over the last seven weeks, has seen a fall of 5% in the average room rate. Although levels are still higher than at the same time last year, they are moving in the right direction which is an encouraging sign, according to Couper.  “On top of that, searches for London on our Hotels.com UK site for the Olympic period for the last three months are currently running nearly 50% higher than last year,” she said. “No doubt the inspiration created around the country by the torch relay has helped to stimulate this increased interest but the mood in the capital at the moment is exhilarating.”  The average price in London currently stands at £202 but this masks that fact that there are rooms available in the city for much less than this, such as £50 a night in some instances, depending on the date of stay. 

“This is a once-in-a-lifetime opportunity to be part of this celebrated showcase of talent and there are some great deals and good availability to be had, particularly in west London. But falling prices and rising interest mean that the best rooms will be selling fast so don’t run the risk of waiting for bargain rates or you could miss out altogether.”