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London's Luxury Hotels Increase Rates up to 253% for Olympics
Last Update: April 17, 2012

If staying in a luxury hotel is important to 2012 Summer Olympic goers, they better make sure they have some extra cash on hand. Rooms can still be secured at London's finer establishments during the Olympic dates of July 25-August 12, but luxury accommodations in the London are following their moderate and budget competition and raising their rates, some of them substantially. That's the finding of a new survey compiled by Luxury-Hotels.com.

To illustrate this point, when the website focused on the period of August 2nd through August 5th (Thursday to Sunday), it discovered that 20 of central London's 70 5-star hotels still have rooms available. But the privilege of staying in them will cost, on average, 62% more than usual.

Wide swings in price hikes, however, can be seen from one luxury hotel to another. The Meridian Piccadilly, for instance, has raised its rates only 15% during the Olympics. This luxury accommodation on the border of Mayfair and St. James is listing rooms at GBP 538 versus its regular rate of GBP 503. Closer to the Olympic Stadium, the Town Hall Hotel isn't being so kind to Olympic goers seeking a posh experience. During the Games it has raised its rates 253%, listing rooms at GBP 880 versus its usual price of GBP 249.

If prestige tops their Olympic-staying wish list, travelers are in for some disappointment. The Dorchester, the Connaught and the Lanesborough have no available rooms whatsoever for the full duration of the Games.

The following table shows the 10 most expensive 5-star hotels in London that are still posting available rooms for the periods of August 2-5 or August 9-12, along with their average nightly rates.

Name of Hotel Location Avg. Rate (Olympics) Reg.Rate Rate Increase
Town Hall Hotel Victoria Park 880 249 +253%
The Ritz London West End 755 514 +46%
The Montcalm Marble Arch 743 330 +125%
May Fair Hotel Piccadilly 714 421 +69%
St Pancras Renaissance King's Cross 630 510 +23%
Sheraton Park Tower Harvey Nichols 629 512 +22%
The Park Lane Hotel Mayfair 557 431 +29%
Le Meridien Piccadilly Piccadilly 538 503 +6%
Ascott Mayfair Mayfair 500 356 +40%
Radisson Edwardian Leicester Square 479 275 +74%

About the Methodology:
About the Methodology: The survey was conducted on March 29, 2012. Available 5-star hotels in London and their rates for a standard double room for the period of August 2-5 and August 9-12 were established based on a search of the leading hotel-booking sites: Expedia, Priceline and Laterooms. For comparison purposes, the rates for the same rooms for the July 5-8 timeframe were established and determined as "Regular Rates."
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