London hotel occupancy soar in Olympics
- Wednesday, 01 August 2012 10:39
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STR Global maintains that between 27 July until 29 July, hoteliers across London reported 84.4 % occupancy and £224.72 average room rates during the 2012 Olympic Games. The Games started Friday, 27 July.
"Hotel performance is strong, London hotels are busy. Some but not all are full; there is room in the inn but overall hotels are in a good position", commented Elizabeth Randall, managing director of STR Global.
Historically, Olympic host cities do not sell out, Ms Randall said. Reviewing hotel performance over the past four summer games, back to 1996 in Atlanta, none of the host cities' occupancy surpassed 90% for the months in which the Olympics occurred, according to STR Global.
Occupancy has been trailing behind last year for most of June and July. Recent days' occupancy achieved around 85%.
