London hotels set Olympic-sized prices

Stat of the day: With the Olympics fast approaching, hotels in the Capital are hiking up prices to cash in on incoming tourist trade. Average room prices are up 10% to £132.54 in February from £119.72 the previous month.

by Rebecca Burn-Callander
Last Updated: 09 Oct 2013

Price rises continue their inexorable creep across London. The latest industry to start boosting margins ahead of this year's 2012 Olympics? Hotels.

The influx of cash-rich tourists is a sumptuous feast for an austerity-starved sector. But as the cost of an average room rises, the gap between London and other capital cities widens. As it stands, one night in London will now buy you two in Istanbul.

The UK capital is now only out-priced by two other cities in Europe: Moscow, where a night in a hotel will set you back £153.61; and Oslo, with room rates at £134.63. On a global scale, Sydney far outstrips the Continent, however, with a room for the night costing £159.60.

Even taking into account that January is technically a 'low season' in London (the weather is inhospitable, most tourists, over for the festive season, have already departed), there's still evidence of an Olympic price hike. Compared to February last year, prices are up 6.6%.

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