Olympics Skyrocketing London Hotel Rates Upwards of 500%
January 30, 2012
The 2012 Summer Olympics may still be six months away, but that's not stopping hotels in the British capital from substantially raising their rates during the games-if they still have rooms available. Fewer than 25% of London accommodations are still posting vacancies for the Olympics timeframe of July 27, 2012 through August 12, 2012. Those that are have already raised their regular prices by upwards of 500%. That's the finding of a recent survey compiled by Cheaphotels.org.
An average of 75% of all London hotels are already out of rooms for the Olympics. Areas like Knightsbrige, Chelsea, The City, Vistoria and Westminster are virtually sold out, but with half a year still to go until the opening ceremonies, out-of-town fans who would still like to attend the Olympics aren't completely left high and dry yet.
Weekend rates at those accommodations that do still have openings are expectedly higher than weekday prices. Friday and Saturday night stays at a majority of hotels in the region have been jacked sky high. The Whiteleaf Hotel near Kensington Gardens has the highest overnight price of £550. In comparison to its usual rate of £99, that's a 455% price hike.
Percentage wise, however, it's not the biggest cost gouger. That distinction goes to the Ascot Hyde Park Hotel, where rooms that are regularly priced £70 will go for £480 during the Olympics. That figure represents a jaw-dropping 500% increase.
The six-month lead way does offer one upside for Olympic travelers, though. In a surprising survey discovery, they can still snag a London area room at a few hotels for almost regular rates. Both the Bayswater Inn and the Avonmore Hotel still have reasonable prices posted, £90 and £210 respectively. These accommodations are conveniently located close to Kensington Gardens and the Earl's Court Exhibition Centre.
The table that follows ranks the ten London hotels according to the percentage increase in room rates for the first Olympic weekend. The rankings are based on a comparison with regular rates.
| Rank | Name of Hotel | Location | Regular | Olympics | Increase |
| 1. | Ascot Hyde Park Hotel | Paddington | £80 | £480 | +500% |
| 2. | Whiteleaf Hotel | Bayswater | £99 | £550 | +455% |
| 3. | Crown Moran Hotel | Cricklewood | £99 | £533 | +438% |
| 4. | Crowne Plaza London Ealing | Docklands | £90 | £448 | +397% |
| 5. | Adare Hotel | Paddington | £104 | £406 | +290% |
| 6. | The International Hotel | Docklands | £123 | £458 | +272% |
| 7. | Queens Park Hotel | Hyde Park | £86 | £300 | +248% |
| 8. | Lord Jim Hotel | Earl's Court | £110 | £373 | +239% |
| 9. | Mercure London Paddington | Paddington | £118 | £389 | +229% |
| 10. | London Guards Hotel | Bayswater | £115 | £376 | +226% |
About the Methodology:
The survey was conducted on January 28, 2012. Available hotels in central London and their rates for the cheapest available double room for the weekend of July 27-29 were established based on a search of the leading hotel-booking sites: Expedia, Bookings.com and Laterooms.com. For comparison, the rates for the same rooms for June 22-24 were established and determined as "Regular Rates."
