With the London 2012 Olympic year upon us, TravelClick, the leading hotel market intelligence provider, is using its forward looking data to provide regular updates of how the London hotel market is performing in terms of demand and rates.
With fewer than 200 days before the opening ceremony, the market is looking optimistic for both hoteliers and visitors. At this time, committed occupancy for London hotels is currently at 45.7%, which while up more than 300% on the same period in 2011, also means that there is still availability for anyone planning to visit London during the games and for hoteliers to capitalise over the two week period.
Committed occupancy across the entire period of the games is fairly consistent with the busiest night during the two week period for London’s hoteliers currently showing as that of the opening ceremony (27 July) which is at 46.9% committed occupancy, a 443% rise on the same date in 2011. The average daily rate is up an average 118.2% year-over-year over the 16 day period between the opening and closing ceremonies.
More hotel information from TravelClick can be accessed here