Five-star is cheaper than Travelodge as hotels slash prices

Added/updated: Monday 02 February 2009, Category: News summary
By: Caterersearch, 01/02/2009

Luxury hotels in London are slashing their rates to such an extent that it can now be cheaper to stay in a five-star hotel than a Travelodge. Analysts believe the bizarre situation has arisen because demand is falling fastest at the top end of the market, while budget chains prosper.  On Thursday last week, we checked prices at hotels across the capital for a one-night stay the following night. A double room at the Travelodge Covent Garden cost £102.50, including breakfast for two. However, a five-minute walk away, a double at the five-star Grange Holborn, including breakfast, as well as access to the large swimming pool, sauna, steam room and gym, cost just £86.25.