The new London Olympic event: Hotel Price Gouging?
Typically, we travel deals that save you money, as half-price cruise to the western Mediterranean showcase. But a few offers for hostel dorm beds during the 2012 Olympics in London (July 27 to August 12) were so frightening that we had to share.
Sites like Expedia and Hotels.com have policies dictating that you can not book rooms for more than 11 months off, meaning they are only now that reservations to coincide with the Olympics.
Here's what we found: a 28-bed all-male dorm room at Palmers Lodge Hostel (just south of Hampstead Heath) is for sale for $ 157.50 per person, per night on Hotels.com – that's approximately 4,400 dollars a night for the room. (The rate includes breakfast 28.) That said, what your book into the hotel bed, albeit in an ensuite double and an eight-person female only room, the per-person price remains the same. (Hint:. Instant Booking Palmers' prices are considerably cheaper than those posted by Hotels.com)
Would you like to stay at Hostel 639, a place near Notting Hill, during the same dates? At Hotels.com, per-person price for a night at Hostel 639 is equal to the rates for a dorm at Palmers – Hostel but rates are two times more than what Palmers provides for a basic double with shared bathroom. That's more than $ 500 per night for two people. Reserve a quadruple room today and you pay $ 1,000 a night. Reserve sites, including Hotels.com Venere.com and have rates from less than $ 20 (including taxes) for stays at the same properties in September.
These price increases should come as no surprise, since news outlets are reporting rising prices during the Olympic Games in London for some time. But maybe we are optimistic that hoteliers are, well, optimistic. Tom Jenkins, chief executive of the European Tour Operators Association (ETOA), told the Telegraph, "In Athens [host the 2004 Olympic Games], about 15,000 hotel rooms were sold. London has 125,000 rooms to sell. This optimistic pricing in the face of such inequality is very brave. "
David Tarsh, another spokesman for the ETOA, is widely quoted as saying visitors to London during the Olympic Games, until early next year to wait before booking accommodations; Tarsh predicted that hotels with unsold rooms will be forced to cut their prices reduce by that time.
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Submited at Thursday, September 22nd, 2011 at 4:00 am on Tips by chuck
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