Olympics profitable for landlords, tough on consumers | CTV Winnipeg

Olympics profitable for landlords, tough on consumers | CTV Winnipeg

LONDON — It's months before athletes hit the Olympic track, but time is running out for those in another fierce competition: The scramble for a place to stay in London.
Some innkeepers will be charging Ritz rates for Fawlty Towers rooms -- and they will get away with it.
A limited hotel supply and unprecedented demand from almost a million tourists, media and businesspeople tied to the London Games means that accommodation in the British capital -- never a bargain to start with -- is more expensive than ever this summer.
That guarantees a bumper year for London's hotel and rental sectors, but a nightmare for those who have been dragging their feet on making sleeping arrangements.