London is home to hundreds of hotels in different sizes, luxury levels and budgets. There is no official register to mark how many hotels exist in London. But according to figures presented to support the London 2012 Olympic Games, there were over 70000 hotel rooms in the three to five star categories within just 10 kilometers of Central London. During the year 2006, there was a boom in environmentally friendly hotels and that became a marketing tool. By the end of the year, branded hotel rooms accounted for 70% of the total available accommodation. Purpose built hotels then became more common and the trend lead up to the 2012 Olympics.
With hopes to hit a jackpot during the London Olympics 2012, hotels in London decided to increase their prices assuming that loyal Olympic guests will be present regardless of how much they have to spend. With travelers being very much put off by high prices, the hope of reviving the British economy was dampened. As preparations for Olympic visitors, local organizers of the event block-booked about 40000 hotel rooms out of the 100000 available in London for athletes, media, sponsors and other officials. 20% of these booked rooms were then released earlier during the year. According to experts, there are enough of hotel rooms available in London. But the prices have to be reasonable. Tourist agencies and hotels had to work together to maximize occupancy as well as profits.
When the Olympic Games drew closer, room prices reduced by 24%. According to tourism chiefs, the reason for this was because the local organizers who had block-booked rooms released them later on and the hoteliers themselves began to get rid of the minimum stay rules, allowing visitors to stay for just one or two nights. With the low price deals, industry experts are in hope that more visitors will be attracted. These extra visitors were anticipated mostly from other areas of the UK and European countries rather than from Asia and the USA. This is probably because short notice would make it difficult for tourists to plan a holiday to reach the games in time. As a result, hotel directors predicted an increase in domestic visitors coming to London for the games, especially those who already possessed tickets to the games. These visitors grabbed the opportunity of staying at good hotels for lower prices and booked stays for just a couple of nights. The London hotel industry, consisting of over 200 hotels, offered visitors rooms ranging from five star to those at a minimum budget. Therefore, those who planned on staying longer to visit the city of London as well as be a part of the Olympics reaped the benefits of the amazing price deals that hotels offered. Furthermore, London is just a shot hop away from core markets around Europe and because of that, London hotels allow late bookings for those last minute visitors to come to London.
According to studies, an estimated 294000 visitors from out of London were expected during the games and a further 587000 visitors from all over the UK were expected. Furthermore, economists said that about GBP 650 million in terms of spending by the tourists was predicted over the five year period following the games.
About the Author: Jessy Taylor is a content writer who loves to share her knowledge among internet users. At the moment she is writing articles about travel tips and Stansted Airport Hotels.