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Hospitality is still waiting for Olympics to boost business

25 May 2012 by
Hospitality is still waiting for Olympics to boost business

Almost all operators now feel sufficiently prepared for the Olympic Games, but over half still think the event will have little effect on their business.

According to Caterer and Hotelkeeperer's Olympic barometer, in association with ACT Clean and People 1st, only a third of the 155 operators surveyed felt that bookings for the games had met their expectations. The rest had been disappointed by the lack of demand so far.

But the majority thought that it would be a success, with one in five believing that all operators would benefit and 84% saying it would have at least a moderate affect.

Only 15% thought that the games would have a very positive impact on their business, with 41% claiming it would have no impact at all.

One respondent warned: "This event has the potential to really show the world just what Britain is all about. However, it also has the potential to do the exact opposite, should traders enforce greed, as it will backfire!"

Another said: "Going on past sporting events we expect a good profit throughout the whole period."

Those that had received positive interest were mainly in the South-east, with the rest of the country reporting disappointing responses and an expectation that potential visitors will watch Olympic events at home rather than at hospitality operations.

One blamed the drop in allocation claimed by Locog, adding: "Nothing is being used prior to 28 July and nothing past 12 August. Some ancillary business was expected outside the main two-week peak but nothing has materialised."

However, there was still some optimism, even in the regions, with operators expecting late bookings from people waiting to see if they have tickets for their preferred events.

As a result, few have put up prices, with 66% of respondents saying they had no plans for increases. Just 5% said they had raised prices significantly as a result of increased demand.

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