London Olympic Accommodation

The Olympics have been causing quite a stir for London Olympic accommodation providers

, with thousands of apartments booked up at the announcement of the Games, but then many of them recently re-released back into the market.

There is no doubt that the London Olympics will be the largest show in town this summer, and will draw in several million additional visitors to the Capital as a result. Whilst this will provide a short-lived bonanza for hotels, apartments, restaurants and theatres, in an otherwise dismal economic environment, it has so far succeeded in displacing regular business, such as Graduate programmes, expat relocations and project work, that we would otherwise have expected to be dealing with during a normal summer.

There has been little advice from the Government, concerning the considerable disruption and impact on businesses, in and around London, which a sudden influx of four million tourists will cause. Perhaps we should all consider going on holiday to avoid the ensuing mayhem. That is assuming that the queues at Heathrow Airport for security and Border Control are not too long.

At the announcement of the Games, the London Organising Committee of the Olympic and Paralympic Games (LOCOG) secured 600,000 room nights with hotels and apartments and locked them into contracts, a move that was later regretted by many. In January this year, LOCOG announced that they were releasing 20% of this inventory, some 120,000 rooms, back onto the market, perhaps having grossly miscalculated their likely requirements in the first place.

But where exactly does this leave the rest of them?

Those few providers that still have availability during July and August have inflated rates for the privilege of staying in London during this period. From our perspective, there can be no doubt that the Olympics have created huge disruption to normal business patterns in the London market.

After surveying a large cross section of our client base, 68.9% said that they were not planning to book any hotels or apartments during July and August. We have also heard that relocations are being postponed and that home searches will be almost impossible in Central London, due to traffic congestion and overcrowding on public transport. Removals and deliveries will only be permitted, in certain areas of Central and East London, between 6.00am and midnight.

We hope that some sort of normality will return very soon to the corporate housing and property sector. Suppliers should treat their regular clients with respect, and remember that it is these companies who provide them with business for fifty weeks of the year, through the good times and the bad, long after the Olympic circus has left town.

by: SEO_OutOfBoxDesigns

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