Hotel rates in London for New Years Eve 2017/2018
December 29, 2017
Most people are aware that hotel rates are determined by supply and demand and on landmark occasions when visitor numbers surge, prices tend to respond accordingly.
This economic principle has certainly stayed firm in London this year, with a survey by Cheaprooms.co.uk revealing that hotels are charging on average 104% more than their regular rates for the night of 31 December, with some hiking their prices by more than 300%.
According to the survey, visitors will have to spend around £185 for the cheapest available double room in a hotel rated at least 3 stars and located in the city centre (in and around the Soho district). This is about 90% more than on a regular night in January for a stay in the same hotel.
However, while these figures will come as little surprise to most, the survey also reveals that these rate hikes are not quite as heavy as we have come to expect. In recent years it was often impossible to find a room in Central London on New Year’s Eve for below £200.
According to Paul Joseph from Cheaprooms.co.uk, "the rising number of Airbnbs as well as large numbers of new hotel openings have served to increase the supply of accommodation in the city, driving down prices in the process.”
Furthermore, while rooms in the city centre will still be beyond the reach of many, there are some good value options to be found if you’re prepared to venture a little further out. For example, in Earls Court, Wembley and Canary Wharf, rooms are currently available for less £150 on New Year’s Eve.
As for budget travellers, the picture looks fairly similar. For example, to book yourself into a 6-bed dormitory in a youth hostel this New Year’s Eve will cost around £35 – that’s an increase of 150% on standard rates.
The following table shows the hotels in Central London with the largest rate increases for New Year’s Eve 2017. All rates were established on 28 December and are based on data gained from a major hotel price comparison website.
|Name of Hotel||Room Type||Dec 31||Regular|
|Beaufort Hotel||Junior Suite||£949||£233|
|The Tudor Inn||Deluxe Double||£410||£119|
|So Kings Cross||Double Room||£281||£78|
|Sheriff Hotel||City Room||£350||£115|
|Surtees Hotel||Double Room||£315||£112|
|Holiday Inn Bloomsbury||Double Room||£359||£130|
|Huttons Hotel||Twin Room||£350||£130|
|The Jade||Double Room||£294||£119|
Paul Joseph, email@example.com, Phone: 00447977499670
In the United Kingdom