London hotels lop Olympic rates
JacTravel says it is seeing "a substantial decline" in London hotel rates as the Olympic Games deters visitors.
Rates have recently been falling from "very inflated levels" and are now around 40% higher than normal.
Rates after the Olympics are currently 15-20% down on the same period last year, JacTravel said.
JacTravel, which books more than half a million bed nights a year in London, reports that the majority of its hotel partners have opened up availability and reduced rates significantly in the past couple of weeks.
Declines in the lower categories have been greater, with some two-star properties cutting trade prices 75% from £200 to £50.
JacTravel director, Angela Skelly, said hotel prices during the Olympics were now at the kind of levels expected during events such as Wimbledon or the Chelsea Flower Show.
"Leisure tourists who are not interested in watching sport could wait until mid to late August, when there are some excellent bargains to be had," she said.
Ian Jarrett
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