|Appeal of 2012 Olympics Doubles Hotel Prices in London|
Wednesday, 14 March 2012 04:43
Hotel room prices has found that visitors to London will pay twice as much to stay as last year as the 2012 Olympics takes it hold on tourism according to a survey.
A study by Hotels.com found prices for booking in March this year for August are 102% higher than for the same months last year.
The website, which is part of the Expedia group of companies, says the average price of a hotel room in London will be £213 this summer.
Between 2010 and 2011 room prices worldwide rose 4%.
UK travellers generally saw rises in prices in more than two thirds of popular destinations, with increases in 69 of the 88 city or resort locations analysed across the world, one of the main reasons for the rise was currency movements.
David Roche, president of Hotels.com, said: "Price volatility in 2011 meant UK travellers found it more expensive to stay in the majority of their favourite destinations abroad.
"A variety of factors, including currency movements and a growth in corporate travel, pushed up prices at a time when many consumers were already struggling to pay their bills at home."
He added though that room rates were still generally lower than they were in 2005.