Rooms back on market for the Olympics
Thursday 10 May 2012
Hundreds of extra London hotel rooms have come back on the market with 79 days to go before the Olympics according to Holiday Inn and Crowne Plaza owner, InterContinental Hotels Group (IHG).
Richard Solomons, chief executive of IHG, said: "Originally, two-thirds of rooms in 35 of our London hotels went to Locog (the Olympic organising committee) as part of our support for the Games. Locog has just given us 20 per cent of those rooms back and they are back on general sale. Demand is high."
Mr Solomons is also excited that Holiday Inn is running the 15,000-strong athletes village and said: "It has already hugely raised awareness of the brand."
IHG 's first-quarter profits rose 5 per cent to $118m (£73m) – slightly above City forecasts – with revenue per available room rising 7 per cent.
Mr Solomons said that during April, revenues per room had risen by 6.1 per cent with 4.2 per cent of that coming from increased rates.
"In some developed countries it is getting harder to build new hotels so the rates the existing ones can charge are being pushed upwards," he said.
- 1 David Sedaris: What I learnt from Fitbit about the world around me
- 2 Saudis risk new Muslim division with proposal to move Mohamed’s tomb
- 3 A teacher speaks out: 'I'm effectively being forced out of a career that I wanted to love'
- 4 Cee Lo Green: It is only rape if the victim is conscious
- 5 Katie Hopkins breaks down in tears over weight gain challenge: ‘I hate fat people for making me do this’
Emma Watson on Jennifer Lawrence naked photo leak: 'Even worse than seeing women's privacy violated is reading the comments'
Jessica Brown Findlay: Downton Abbey actress is linked to list of celebrities targeted by hackers
Saudis risk new Muslim division with proposal to move Mohamed’s tomb
Ariana Grande nude photos leak: Pictures are completely fake, say representatives
Steven Sotloff 'beheading': British captive shown in Isis video claiming to show death of second US journalist
Rotherham child sex abuse scandal: Labour Home Office to be probed over what Tony Blair's government knew - and when
What do immigrants really think of Britain? Polish immigrant's Reddit post goes viral
Ashya King: Parents of five-year-old boy refused permission to visit him in hospital and denied bail at Spanish court
With Douglas Carswell joining Ukip, my party has taken another giant step forward
When elitism grips the top of British society to this extent, there is only one answer: abolish private schools
Ashya King: 'Cruel NHS has not given us the treatment we need', says father of five-year-old with brain tumour who fled to Spain
iJobs Money & Business
£30000 - £45000 per annum + benefits+bonus+package: Harrington Starr: Front-Of...
£700 per day: Harrington Starr: Quantitative Developer C++, Python, STL, R, PD...
£700 per day: Harrington Starr: Java/Calypso Developer Java, Calypso, J2EE, J...
£500 per day: Harrington Starr: SQL Developer SQL, C#, Stored Procedures, MDX...