Demand and Supply

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London Games gives Singapore hoteliers a boost

Singapore based hoteliers are doing brisk business in London, for the period of the upcoming London Olympic Games. This article was published on 25 June, 2012 written by Yasmine Yahya on The Straits Times newspaper. Which 95% of the rooms of The Ascott, Millennium & Copthorne Hotels (M&C) and Frasers Hospitality were booked. The games had actually started on 27 July, 2012. In addition, GuocoLeisure will also have benefit like for example 5,000 rooms located in London City. To add on with it, the London Olympics Council pre-booked more than 60% of the rooms in London for the Olympics participants and leaving the rest of the revellers scrambling to the remaining rooms that are available.

Eventually, 95% of the rooms are booked at The Ascott, Millennium & Copthorne Hotels (M&C) and Frasers Hospitality. Which they had already expected that it will be sold out, or almost fully booked in another say previously. But by the time the games had to be started on 27 July, 2012. On the other hand, the company DMG & Partners Research said in a recent note that GuocoLeisure Singapore-listed will also stands a benefit from the Olympics, which has 5,000 rooms located in London City. Additionally, The London Olympics Council has pre-booked over 60% of the rooms in London to provide all the things they want for the Olympics participants, and also leaving the rest of the remaining rooms available for the revellers scrambling which cause that room rates to rise more than double to £300 which was approximately S$600 to £400 a night.

Mr Tan Choon Kwang, Ascott’s managing director for Europe, said that the company had benefited from group bookings too. Eventually Ascott operates 6 serviced residences in London. To add on with it, Mr Tan Choon Kwang said that “we see an increase in our business as compared to last year, for the upcoming Olympics. By the end of May 2012, we had already secured an overall...
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