Figures released by hotel analysts suggest that London will be one of the most successful and packed Olympic Games ever.
Bolstered by other high-profile events such as the Queen’s Jubilee, STR Global and HVS London have said that London hotels will boast the highest occupancy rate of any Olympic host city.
This potentially paves the way for the whole capital to benefit, with the likelihood of function venues, meeting venues or event spaces selling out during this time, also potentially being high.
Sarah Duignan, director of account management at STR, says that it almost looks as if London “hasn’t had a recession” at all, based on the group’s European market research paper.
“The city performs very differently to any other market internationally, especially given the economic downturn,” she tells bighospitality.co.uk.
Tim Smith, director of HVS London, echoed Ms Duigan’s positivity for the capital, and explained that a number of international businesses who have invested in real estate in the capital have ultimated benefited the whole city.
Highlights of the study include the increased availability of hotel rooms in the capital, which has ballooned 15 per cent in the 12 months to March 2012. Occupancy rates meanwhile closed at 82.5 per cent, which is the heights occupancy base of all time for any host city of the Olympics.
Despite the good news however, there are still some chains with rooms to fill. Atbn.co.uk reports that Park Plaza Hotels is the latest to tell the public that it is open for business, and there’s no need for guests to “remortgage their homes” to afford a room.