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| July 21, 2012 | London hotels prices being hiked by up to 300 pct during Olympics | | London:
Hotels in London are charging premiums of up to 300 percent from people staying
in the city during the Olympics, according to a report. According to a study for
banking group Santander, hotels in the centre of London were 2,891 pounds a week
or 139 percent more expensive on average over the period when the sporting event
is taking place than after the Games. Researchers also looked at prices near the
Olympic Park in east London , which is hosting up to 180,000 spectators a day.
According to The Daily Express, researchers found that while most hotels were
booked up, one of the few with vacancies was charging an extra 5,054 pounds. This
was the equivalent of a 301 percent increase on its rates after the Games, the
report said. The report quoted a Santander spokesman, as saying that 'the research
highlights just how enormous the demand to stay in London during the upcoming
sporting event is.' "The fact that the few limited rooms available near the Stratford
Olympic Park can charge such expensive rates demonstrates how holidaymakers are
willing to pay the extra costs," he added.
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