London Hotel Prices May Decrease After 2012 Olympics

In the aftermath of the 2012 Olympic Games, hotel prices in London are on a downward slide, according to Trivago, a hotel price comparison website.

Average room rates for London hotels are expected to drop by 35 percent now that the Olympic games have finished, from an average of GBP201 per night between July 27 and August 12, 2012, to an average of just GBP130 during the following week, which is even lower than the same period last year.

Meanwhile, hotel prices in Edinburgh are set to remain high, due to the ongoing Edinburgh Fringe Festival, with rooms averaging GBP177 per night, which is 46 percent more than the same period last year. While hotel prices in Edinburgh are expected to remain high, prices of accommodation in other key cities in the UK and Ireland have increased in comparison with August 2011, mirroring the general trend of rising hotel prices.

Outside of the UK, rises in average hotel prices have been seen in the last month in the European destinations of Stockholm, Oslo and Copenhagen. While average hotel accommodation in Stockholm costs GBP141, an increase of 19 percent from last month, a night in Oslo will cost around GBP133, up by 19 percent, and the average room rate in Copenhagen is around GBP131, representing a 10 percent increase.

In other parts of Europe, hotel prices have decreased in August 2012, in comparison to July 2012. Average room rate in Rome are around GBP88, a decrease of 14 percent from last month, while a night in Istanbul costs GBP93, a decrease of 16 percent from last month.