Just when we’re having to rein in our hotel habit, we’re getting sorely tempted to start splurging again. A report in London’s Observer newspaper this week said that luxury hotels in the capital are feeling the pinch so much that they’re slashing their prices to below what the budget chains are offering.
They’re calling it the Copenhagen effect--named after the last recession that saw the top hotels in Denmark selling rooms for less than their three star neighbours. And they quote Andrew Pumphrey of discount website Late Rooms, as saying that five star hotels across Britain are “24 percent down on a year ago.”
Last week, the Observer did a price check on London hotels – and found that, at £102.50, the budget Travelodge in Covent Garden was trumped by the five star (and seriously swanky) Grange Holborn, which was selling double rooms for £86.25. Even the Waldorf was going for £129.
Has there been a better time to get stuck in? Not for a while, by the sounds of it. We’re putting our spare drinking money towards a night of linen-sheeted luxury from tonight.
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