London hotels incurring huge losses thanks to Olympics

June 06, 2012 16:43

London's hotels are facing a dramatic loss in profits as one third of rooms are found to be unsold over the summer, after tourists have been put off by the Olympics, a survey has found.

The economic boom, which the UK Government hoped the Games would bring to the capital, appears to become a bust with tens of thousands to tourists spurning the hiked prices, congestion and heightened security.

The hotel bookings for July and August in Britain are already down by 35 per cent on last year, while other European capitals appear to be prospering from London's gloom.

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