London hotel prices rise by 70pc

The average daily rate for a hotel room in London has soared to an average of £189 over the Olympics period, up more than 70 per cent compared to the same period last year. According to hotel data provider TravelClick, committed occupancy across the capital shows rooms currently reserved for the Olympics stands at 77 per cent – though this could decrease due to a recent return of rooms by organiser Locog, which could see prices slashed.