Business travellers urged to plan now for London Olympics
Global travel management specialist FCm Travel Solutions is urging companies to start planning their business travel during July 2012 now as millions of London Olympic visitors could mean a shortage of accommodation and flights for regular business travellers and a potential hike in hotel room rates and airfares.
Global travel management specialist FCm Travel Solutions is urging companies to start planning their business travel during July 2012 now as millions of London Olympic visitors could mean a shortage of accommodation and flights for regular business travellers and a potential hike in hotel room rates and airfares.
“The cost and availability of air travel to and from London and accommodation within the capital will be major concerns for corporates during the summer of 2012,” said Ciarán Kelly, general manager, FCm Travel Solutions. “The rules of supply and demand mean that air fares and accommodation costs are expected to rise as availability closes out in the lead up to the Olympic Games. Corporates need to start planning now in preparation for the peak period”.
FCm is advising clients to reconsider all non-essential travel, look at alternative travel means, consider bringing forward or postponing meeting dates, or conduct meetings outside of London. If travel is critical however during the peak Olympic period , the TMC is working with corporates to secure availability and pricing which is in line with their travel policy well in advance.
FCm is telling clients to purchase airline tickets and accommodation as early as possible; explore the option of using alternative airports; consider travelling at non-peak times or using alternative means of transport and different classes of travel; consider accommodation options outside Greater London and allow additional time for travel to and from London airports as well as for security and visa checks
“Inbound air travel to London could be significantly affected,” adds Ciarán Kelly. “There may be discounts for outbound travel as airlines try to fill seats on flights out of London and some carriers will probably release early-bird specials. But fares are likely to increase closer to the event so business travellers need to book as early as possible to avoid paying premium prices”.
Hotels that agreed to work with the London Organising Committee of the Olympic Games and Paralympic Games (LOCOG) at the time of the bid were required to allocate 65 per cent of their inventory to Olympic visitors. Ten properties in London, however, have allocated 100 per cent of their inventory. Rates for rooms committed to LOCOG have been set in advance based on average rates achieved over the last four years, but FCm expects prices for remaining inventories to potentially increase closer to the event.
“Some properties have already told us that there has been very high demand for their non-LOCOG rooms and that minimum length of stay and rate/spend requirements will apply during the peak games period,” says Kelly. “Additionally some hotels have introduced black-out dates from July to September.
“As far as domestic rail goes, advance tickets probably won’t be available in peak travel times and we also expect train carriages to be declassified,” continues Ciarán Kelly. “Advance Eurostar fares will be available, but could have a different set of terms and conditions attached to them.
“For companies travelling to or within London during this time, forward preparation is key, as last minute plans will end up costing businesses significantly more time and money. We are therefore already putting together travel action plans with certain clients including guidelines and policies for managing travel before and during summer 2012”
FCm Travel Solutions’ white paper entitled “Planning for the 2012 London Olympics” can be viewed in full at http://admin2.fcm.travel/files/30_FCm%20UK_London%20Olympics%202012_1305890100.pdf
FCm Travel Solutions:
Is one of the world's leading corporate travel and expense management consultanciesBlends global presence with local, flexible and personal service, and provides end-to-end corporate travel and expense management solutions Has a regionally focused global network that ensures in-depth understanding of each client's local business culture and travel environmentCreates travel savings for companies of all sizes, in all market sectors.
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