Demand and Supply
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 …show more content…
“We do expect to fill up all our rooms very quickly as this is also a peak period for all of our properties in Europe, including Fraser Suites Glasgow and Fraser Residence Budapest.” The Ascott, Millennium & Copthorne Hotels (M&C), the London-listed subsidiary of property giant City
Developments, has 7 properties in London. Mr Kwek Leng Beng, the chairman, said that “Our London hotels had been enjoying occupancy rates of at least 80% but currently the hotels’ occupancy has gone beyond 83%. We expect that our hotels to be 90% during Olympics games period.”
Moreover, travellers from Singapore who hasn’t book a hotel room during the London Olympic game period don’t have to worry. “The Ascott, Millennium & Copthorne Hotels (M&C) has over 2,500 rooms in central London alone so the groups will still have available rooms, with the range between £300 and £1,500 for one night.” Mr Kwek Leng Beng added.In order to save rooms for their guests, the directors of The Ascott, Millennium & Copthorne Hotels (M&C) had decided not to have their schedule board meeting in London on 1st August, 2012. “The Ascott, Millennium & Copthorne Hotels (M&C) will assemble a board meeting through teleconference,” said Mr Kwek Leng Beng.
Their business has an increase due to the upcoming Olympics games. Which their rooms were high