Olympic Games and hotel pricing

A recent row over hotel prices during the 2012 Olympic Games, which has seen London’s Mayor, Boris Johnson, apologise to hoteliers after wrongly accusing them of profiteering during the Olympics, reinforces the importance of exerting caution when deciding on the pricing practices during the international event.

• The pricing to be offered during the period of 1 June to 30 September 2012 will be fair and reasonable, to meet with individual standards and regular year on year increases for the period
• No cartel or similar arrangement to artificially inflate pricing levels for any goods or services will be entered into.

Several online comments recently pointed out that it is normal that prices for the period of the Olympic Games will be higher than normal, given the massive influx of visitors and the limited number of beds available. After all, they state, prices already vary depending on the season rooms are booked in, with the high season commanding more premium prices than the low season.

What the Charter and the organising authorities are keen to prevent, however, are unreasonable hikes in prices that would give London – and by extension the whole of Britain – a bad reputation as an overpriced destination, which would damage long term tourism prospects for the country. The official website for the London 2012 Olympic Games gives advice on and resources for what can be done to prepare for the Olympics, including tips on anything from how to provide a world-class welcome to identifying opportunities.