Bexley’s hoteliers playing a wait and see game over Olympics

PUBLISHED: 10:44 23 February 2012

The Olympics presence at the o2 might push up rent and room prices in Bexley

The Olympics presence at the o2 might push up rent and room prices in Bexley


Bexley’s hoteliers and estate agents agree that ­supply and demand will decide whether their business improves ­during this summer’s London 2012 Olympic Games.

Since London was awarded the Olympics in 2005 there has been speculation about how much money hotel rooms and short-term leases will cost.

Other than the Olympic Zone in Stratford, the main hub will be in Greenwich and Woolwich during the Games between July 27-August 12.

The equestrian events and pentathlon will be held at Greenwich Park, basketball and gymnastics will be held at the O2 (North Greenwich Arena for the Games) and the shooting will be at the Royal Artillery Barracks at Woolwich.

Lisa Jonas, sales and events director of the Marriott in Bexleyheath, said: “We’re quite a luxury chain of hotels anyway but we’ll be putting our prices up for the Olympics if the demand is there.

“If there’s interest there we’ll put prices up because we’re a business.”

But that view is not shared throughout the Bexley area with estate agents not convinced they will see a significant increase in lucrative short-term leases despite claims that there is money to be made by landlords and homeowners.

Director Paul Young of Park Estates on Bexley High Street said: “We haven’t seen any significant interest whatsoever.

“Walking around Blackheath I saw properties going for £6,000 to £24,000 a week but we’re probably a bit far out, even though one client is offering to bus in tenants for the duration of the Olympics.”

The national Rent a Room scheme restricts how much money people can rent their homes for. Homeowners can receive up to £4,250 a year free of tax if they rent out a ­furnished room in a residential property.

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