TravelClick Reports London Rooms Remain as Rates Soar
By David Cogswell
July 16, 2012 10:14 PM
TravelClick, a provider of technology and marketing information for hotels, reports that only a few weeks from the Olympics in London, just 77.4 percent of all rooms in the city that TravelClick tracks are currently booked. However, committed occupancy overall is up 41.1 percent for the weeks of the Olympics (July 27-Aug. 12) over the same time last year. Rates are also up 69.3 percent for July 27-Aug. 12 over the same time last year.
On the other hand, hotel prices across London have soared to an average £189 per night for the Olympics period, representing close to a 70 percent increase in average daily rate (ADR) in comparison to the same time period last year. Rates and occupancy have fluctuated in the run up to the opening ceremonies.
In the most recent report of reservations currently on the books for London, TravelClick says hoteliers are enjoying strong demand in comparison to market data from the previous year over the two-week Games period (July 27-Aug. 12). Rooms currently reserved for the Olympics stands at 77 percent, an increase of over 40 percent with a slight decrease possibly due to recent returns of rooms by Games organizers LOCOG, resulting in late bargains at selected hotels.
The busiest day in London so far during the Olympics is Saturday, Aug. 4, coinciding with the Women’s 50m Freestyle and 4x100m Medley Relay finals, as well as the Men’s 1500m Freestyle and 4x100m Medley Relay finals. Occupancy for this date is at 82.3 percent based on current reservations on the books in comparison to last year.