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Friday, 20 July 2012

TripAdvisor reveals London’s cheapest and priciest areas for hotels during the Olympic Games

TripAdvisor reveals London’s cheapest and priciest areas for hotels during the Olympic Games

Prices rise the most in postcode area ‘E’, while ‘EC’ claims the highest average hotel rates this July and August
The attention has been on London for much of 2012 and after years of waiting, from the 27th July, the proverbial spotlight is due to be at its brightest when the Olympic Games finally kicks off.
With this in mind, TripAdvisor has this week revealed London’s cheapest and most expensive areas when it comes to hotel prices during the London 2012 period (27th July - 15th August). With the biggest sporting event of the year just around the corner and thousands of people set to flock to London in the coming days, TripAdvisor has undertaken a study to keep travellers informed of how hotel rates are faring across the capital.
With such a huge event taking place in London, it’s not a surprise to hear that hotel rates have gone up in general across the city. However, prices in some areas have increased more drastically than others.
Hotels in the London ‘E’ postcode area – closest to the Olympic Park where most of the action will be taking place – have seen the prices rise the most with a 69% increase. The second biggest price increase can be found at hotels in the ‘N’ postcode area with a 60% rise in rates. While the lowest overall rise in price at 19% is in the ‘SW’ area.
Getting down to specifics, the average hotel rate in London per room, per night during the Olympics has been found to range from £156 - £309. The most expensive at £309 per room, per night can be found in the ‘EC’ postcode area, with the ‘W’ postcode area coming in second most expensive at £238 per room, per night. Despite seeing the second biggest increase in rates, postcode area ‘N’ has the cheapest rooms per night coming in at £165.
“London hotel prices are generally higher during July and August in any year, but with London gearing up for such a significant influx of visitors this summer, some may be surprised to see spikes as high as 69%,” commented Emma Shaw, TripAdvisor spokesperson.  “Hotels in the London E postcode area have seen the biggest rises – E being home to the Olympic park – while postcode N will offer the lowest hotel rates, despite seeing said rates rise by 60% in the period of late July to mid-August.”
2012 London hotel prices: Late spring/early summer (1 June-19 July) versus mid-summer (20 July-15 August):

London Postcode Area
Late spring/Early summer 2012

Average hotel price
1 June- 19 July
Mid-summer 2012

Average hotel price:
20 July- 15 August
Increase in cost:

†Prices shown identify the average per room per night hotel cost during the specified dates, as well as the percentage increase between periods, of hotels of various star-ratings found on TripAdvisor (via partner booking sites such as online travel agencies and direct hotel suppliers).  On average, prices from 67 hotels to compute the average prices in each postcode area