The FINANCIAL — Hoteliers are concerned that continued economic turmoil will mean many of the rooms reserved for next summer by Olympic organiser LOCOG will be returned.
With three months to go until LOCOG is due to reveal the final number of rooms it will require, the bedbank scheme is losing support, according to industry leaders speaking at last week's HOSPACE conference.
Approximately 40,000 rooms were pledged to the scheme but Premier Inn owner Whitbread pulled out after resellers – including troubled operator Thomas Cook – were found to be offering rooms at up to 10 times face value.
One London hotel group which has a number of four- and five-star properties in the capital has almost 30% of its rooms committed to the scheme, but will not know until March if they will all be required.
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