Let me start by saying I love Marriott.
I am Platinum Elite and I use Marriott wherever and whenever possible.
My family and I are coming down to London for the Olympics next weekend.
We have tickets for various events and cannot wait!
When we secured the tickets, I immediately checked the Marriott website to book rooms at my favourite London hotels.
While I expected the prices to be inflated slightly I was shocked at how expensive they actually were.
The best hotels: Grosveror House, Park Lane and County Hall wanted over £1000 per night!
Even the more moderate hotels: Regents Park, Maida Vale and Hammersmith were priced at over £500/night!
Well, I simply could not afford these prices, I made alternative arrangements, relying on friends to sleep in their spare rooms or one occasion their sofa.
But it seems Marriott's pricing policy has backfired badly.
I've just checked the website and there are rooms available at virtually every Marriott hotel in London over next weekend.
On a weekend where they should be packed to the rafters, they can't sell rooms even at their normal rate or for rewards points.
People have obviously made their plans months ago and felt, like me, Marriott have overpriced their rooms.
Sometimes Gordon Gecko's words are not true. Greed is not good.
There was a segment on the news tonight.
There are 30% LESS visitors in London than usual for the last week of July.
Hence the hotels haven't been able to sell out.
Sounds counter intuitive, but I suppose everyone has feared the place will be crushed and said, we will come to London next year!
All the seats that were sold to the public are sold out fully.
The empty seats are those set aside for Olympic officials and federations + sponsors.
Unfortunately these tend to be the be the best/most expensive seats which are most visible on tv.
90+% of seats are occupied.
One of my friends was going to take her daughter as she plays soceer and wanted to see those competitions.
After pricing the trip, she decided she just could not afford to go.
I think alot of people may be in the same situation.
To go as an individual is expensive enough considering AF, Hotel, food and tickets.
But to take your family would cost a fortune.
Eventually she convince her daughter she would see more, and have a better view watching on TV.
Was just in the UK in June, pre-Olympic pricing, and it was still pricey being there.
These folks are suffering from the Rip Van Winkle effect [sleeping through the last x years] and are totally unaware of the bad economy out there!
The still think they can use boom economy pricing!
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