Hotel Prices.
-
- Posts: 17108
- Joined: Wed Mar 29, 2017 8:12 pm
- Been Liked: 4384 times
- Has Liked: 15117 times
Hotel Prices.
So pre Covid-19 Hotels were taking the P!ss particularly in London. Charging inflated prices and getting away with it. Does anybody have a view has to which way the prices will go? Up or down.
-
- Posts: 18063
- Joined: Thu Jan 21, 2016 10:35 am
- Been Liked: 3862 times
- Has Liked: 2071 times
Re: Hotel Prices.
I had a look at Premier Inn for 3 nights (Thursday - Sunday) at end of October this year. £104 for the stay in Ealing or Brentford, or if you want more central, Southbank one near Waterloo was £210 for 3 nights
This user liked this post: tim_noone
Re: Hotel Prices.
I think short term they'll keep prices down to get people travelling again but in the longer term they'll probably rise, same with flights.
These 2 users liked this post: evensteadiereddie Tribesmen
-
- Posts: 5829
- Joined: Thu Jan 21, 2016 12:38 pm
- Been Liked: 2491 times
- Has Liked: 1477 times
- Location: On the high seas chasing Pirates
Re: Hotel Prices.
Same with house prices,I wouldn't be buying a house at the moment I would be waiting a few months or a year .
-
- Posts: 25445
- Joined: Sat Mar 26, 2016 12:46 am
- Been Liked: 6930 times
- Has Liked: 11660 times
- Location: Leeds
Re: Hotel Prices.
I guess it depends on demand. The more demand, the higher they can charge. If a lot of people remain cautious then you'd expect prices to drop.
-
- Posts: 10900
- Joined: Thu Jan 21, 2016 8:56 pm
- Been Liked: 5553 times
- Has Liked: 208 times
Re: Hotel Prices.
I disagree with that. I think hotels, airlines and train companies will raise their prices to compensate their losses during the shutdown. And a lot of people will be desperate to get away so I think the demand will be there.
This user liked this post: basil6345789
-
- Posts: 25445
- Joined: Sat Mar 26, 2016 12:46 am
- Been Liked: 6930 times
- Has Liked: 11660 times
- Location: Leeds
Re: Hotel Prices.
Until you open the door and find Lenny Henry wanting a pillow fight.
This user liked this post: tim_noone
-
- Posts: 7211
- Joined: Sun Jan 17, 2016 6:11 pm
- Been Liked: 2378 times
- Has Liked: 3804 times
- Location: Padiham
Re: Hotel Prices.
One is looking forward to visiting and staying at one's club as soon as this damn virus is banned from old London town
Re: Hotel Prices.
I once got in the mercure at southwark for a bargain over New Years eve with a last minute booking for me and the mrs ( 200 for 2 nights ). The only time I've entered the capital other than for work when I lived in the premiere inn near the London eye for 7 months. Once did 3 months in Croydon that was grim and I grew up in a rough area.
I hate the hustle and bustle of capitals.
Anyway question is why would you want to go to London more than once a decade or is it for work?
Re: Hotel Prices.
Yes why? I would rather vist somewhere in England.Bfcboyo wrote: ↑Fri May 22, 2020 5:36 pmI once got in the mercure at southwark for a bargain over New Years eve with a last minute booking for me and the mrs ( 200 for 2 nights ). The only time I've entered the capital other than for work when I lived in the premiere inn near the London eye for 7 months. Once did 3 months in Croydon that was grim and I grew up in a rough area.
I hate the hustle and bustle of capitals.
Anyway question is why would you want to go to London more than once a decade or is it for work?
-
- Posts: 17108
- Joined: Wed Mar 29, 2017 8:12 pm
- Been Liked: 4384 times
- Has Liked: 15117 times
Re: Hotel Prices.
Maybe its because I'm a Londoner....that I love London town...Bfcboyo wrote: ↑Fri May 22, 2020 5:36 pmI once got in the mercure at southwark for a bargain over New Years eve with a last minute booking for me and the mrs ( 200 for 2 nights ). The only time I've entered the capital other than for work when I lived in the premiere inn near the London eye for 7 months. Once did 3 months in Croydon that was grim and I grew up in a rough area.
I hate the hustle and bustle of capitals.
Anyway question is why would you want to go to London more than once a decade or is it for work?
-
- Posts: 4402
- Joined: Thu Jan 21, 2016 8:43 am
- Been Liked: 1465 times
- Has Liked: 995 times
- Location: Burnley
Re: Hotel Prices.
Wahoo, at what number does your age start coming down? Must be a few on here now getting close to the reversal point
This user liked this post: tim_noone
-
- Posts: 1270
- Joined: Sat Jan 23, 2016 12:40 am
- Been Liked: 343 times
- Has Liked: 400 times
- Location: From Accy, Exiled in Surrey
Re: Hotel Prices.
Nailed by the Family Cat.TheFamilyCat wrote: ↑Fri May 22, 2020 3:29 pmI disagree with that. I think hotels, airlines and train companies will raise their prices to compensate their losses during the shutdown. And a lot of people will be desperate to get away so I think the demand will be there.
-
- Posts: 486
- Joined: Thu Jan 21, 2016 9:11 am
- Been Liked: 112 times
- Has Liked: 1662 times
- Location: Burnley
Re: Hotel Prices.
I have just had to book for next Friday 29th as I am taking someone to Heathrow and at the moment it is not easy to find one. Most Travelodges and Premier Inns are either closed or only open for NHS workers (id required), many others just not open at all. I managed to book a Best Western at Chiswick for £62-00 room only with breakfast for two additional £21-98 making a total of £84-08. No idea if that is the normal price or not.
-
- Posts: 17108
- Joined: Wed Mar 29, 2017 8:12 pm
- Been Liked: 4384 times
- Has Liked: 15117 times
Re: Hotel Prices.
Yes my daughter did some checking for me yesterday and lots are closed...I was looking to grab bargains later in the year..of which the premier inn at Ealing in october 3 nights roughly £100 is...Chiswick nice area £62 Seems good value.plus the extra for the meal seems reasonable as most eating places will be shut. Though it has a busy high st. Normaly.lesxdp wrote: ↑Sat May 23, 2020 10:13 amI have just had to book for next Friday 29th as I am taking someone to Heathrow and at the moment it is not easy to find one. Most Travelodges and Premier Inns are either closed or only open for NHS workers (id required), many others just not open at all. I managed to book a Best Western at Chiswick for £62-00 room only with breakfast for two additional £21-98 making a total of £84-08. No idea if that is the normal price or not.
-
- Posts: 5163
- Joined: Wed Feb 17, 2016 1:18 pm
- Been Liked: 2105 times
- Has Liked: 416 times
- Location: Burnley
Re: Hotel Prices.
Paid £300 all inclusive for 5* in Turkey for a week including baggage and transfers ...... for next AprilTheFamilyCat wrote: ↑Fri May 22, 2020 3:29 pmI disagree with that. I think hotels, airlines and train companies will raise their prices to compensate their losses during the shutdown. And a lot of people will be desperate to get away so I think the demand will be there.
Not too bad tbh.
-
- Been Liked: 1 time
- Has Liked: 833 times
Re: Hotel Prices.
It's a difficult one to call.
Reasons for prices to rise
Reasons for prices to fall
Reasons for prices to rise
- Mad rush to purchase holidays once the lockdown lifts.
- Lack of supply - Some Hotels, holiday companies, even airlines go bust. Especially if there has to be a second lockdown.
Reasons for prices to fall
- Some People reluctant to go on holiday due to the possibility of infection. I suppose it depends on when hotels re-open.
- Reduction of 'effective demand' due to the reduction of income of many people over the last few months.
-
- Posts: 1270
- Joined: Sat Jan 23, 2016 12:40 am
- Been Liked: 343 times
- Has Liked: 400 times
- Location: From Accy, Exiled in Surrey
Re: Hotel Prices.
Why would house prices drop?conyoviejo wrote: ↑Fri May 22, 2020 1:07 pmSame with house prices,I wouldn't be buying a house at the moment I would be waiting a few months or a year .
-
- Posts: 3979
- Joined: Mon May 28, 2018 3:00 pm
- Been Liked: 1857 times
- Has Liked: 652 times
Re: Hotel Prices.
Recession, wage cuts, unemployment and repossessions = fewer buyers.
-
- Posts: 5125
- Joined: Wed Jan 27, 2016 11:50 am
- Been Liked: 1127 times
- Has Liked: 1238 times
Re: Hotel Prices.
Unemployment will hit the market, along with the banks wanting higher deposits.
-
- Posts: 1270
- Joined: Sat Jan 23, 2016 12:40 am
- Been Liked: 343 times
- Has Liked: 400 times
- Location: From Accy, Exiled in Surrey
Re: Hotel Prices.
But if that is matched by fewer sellers then the effect would be negligible?Billy Balfour wrote: ↑Sat May 23, 2020 1:01 pmRecession, wage cuts, unemployment and repossessions = fewer buyers.
-
- Posts: 1270
- Joined: Sat Jan 23, 2016 12:40 am
- Been Liked: 343 times
- Has Liked: 400 times
- Location: From Accy, Exiled in Surrey
Re: Hotel Prices.
But if that is matched by fewer sellers then the effect would be negligible?Billy Balfour wrote: ↑Sat May 23, 2020 1:01 pmRecession, wage cuts, unemployment and repossessions = fewer buyers.
-
- Been Liked: 1 time
- Has Liked: 833 times
Re: Hotel Prices.
Positive Side
- Properties bounced back after the 2008 credit crunch.
- Government may offer incentives to try to keep the property market going.
- Rightmove says "visits to its website returned to pre-lockdown levels on the day the market reopened, with 5.2 million visitors. Sales enquiries doubled in the space of 24 hours, and renters made the highest number of enquiries since September last year". https://www.which.co.uk/news/2020/05/ho ... se-prices/
- "Shipside pointed out that a combination of pent-up demand, which has been building for the four years since the EU referendum, and freely available mortgages at low rates, as well as a fairly even balance between supply and demand are likely to see house price growth settle before potentially returning to the gentle increases seen since December’s resounding Tory general election victory". https://www.homesandproperty.co.uk/prop ... 38141.html
- Banks may be more cautious than Pre-Coronavirus. Less mortgage approvals would lead to less people being in a position to purchase. Less purchasers would then lead to house price falls.
- Large number of Buy to Let Landlords might put properties up for sale. Incomes of many renters are likely to have been reduced dramatically over the last three months (redundancies, furlough etc.) If landlords are struggling to collect rents they may decide to sell up.
- Possible foreclosures on mortgage holders who can no longer afford the repayments. Hopefully, the banks will be a bit more flexible than in normal times.
- "Forecasts vary, but analysts can agree mostly agree on one thing: prices are going to fall. Some predict by -5pc, others -30pc" https://www.telegraph.co.uk/property/ho ... fall-drop/
- The latest Rightmove research showed the average price of property coming to market in April dipped 0.2 per cent to £311,950. By contrast, in April last year UK house prices increased 2.1 per cent... UK house prices are expected to fall by more than four per cent, according to 40 per cent of respondents to the latest Rics survey. https://www.cityam.com/how-badly-will-c ... s-in-2020/
- House Prices have often fallen in times of economic recession (e.g. early 90's). COVID-19 has already impacted the economy badly. Unemployment is going to be high when the pandemic ends. Lets hope that, in time, the economy can recover.
- Possible bad government decisions once the pandemic ends. Hopefully this won't happen.
-
- Posts: 3979
- Joined: Mon May 28, 2018 3:00 pm
- Been Liked: 1857 times
- Has Liked: 652 times
Re: Hotel Prices.
UnderSeige has basically answered your question, Alan.Alanstevensonsgloves wrote: ↑Sat May 23, 2020 1:19 pmBut if that is matched by fewer sellers then the effect would be negligible?
-
- Posts: 4123
- Joined: Sat Apr 02, 2016 4:03 pm
- Been Liked: 1155 times
- Has Liked: 783 times
Re: Hotel Prices.
Which part of Croydon were you in? There's some really undesirable parts, particularly close to the centre. I don't even want to drive through Croydon centre, never mind live there. It's like the BronxBfcboyo wrote: ↑Fri May 22, 2020 5:36 pmI once got in the mercure at southwark for a bargain over New Years eve with a last minute booking for me and the mrs ( 200 for 2 nights ). The only time I've entered the capital other than for work when I lived in the premiere inn near the London eye for 7 months. Once did 3 months in Croydon that was grim and I grew up in a rough area.
I hate the hustle and bustle of capitals.
Anyway question is why would you want to go to London more than once a decade or is it for work?
If you get further out, away from the town, but into the leafier parts of Croydon borough such as where I am, then there's also some really nice parts. Bit like Burnley really, there's some less so nice parts but if you get further out then it's rather nice.
-
- Posts: 1270
- Joined: Sat Jan 23, 2016 12:40 am
- Been Liked: 343 times
- Has Liked: 400 times
- Location: From Accy, Exiled in Surrey
Re: Hotel Prices.
Yep, I like his pros and cons summary. I only ask as I'm about to exchange on a house in ilkley. My first time out of renting for a while.Billy Balfour wrote: ↑Sat May 23, 2020 1:39 pmUnderSeige has basically answered your question, Alan.
-
- Posts: 3979
- Joined: Mon May 28, 2018 3:00 pm
- Been Liked: 1857 times
- Has Liked: 652 times
Re: Hotel Prices.
First time buyers, or buyers like you with no chain, are at a premium at the moment and will be for a long time to come. I would be asking for a discount in order to negate potential negative equity.Alanstevensonsgloves wrote: ↑Sat May 23, 2020 2:41 pmYep, I like his pros and cons summary. I only ask as I'm about to exchange on a house in ilkley. My first time out of renting for a while.
Re: Hotel Prices.
You ain’t going to the right places if you don’tt enjoy London it’s probably the greatest City on the planetBfcboyo wrote: ↑Fri May 22, 2020 5:36 pmI once got in the mercure at southwark for a bargain over New Years eve with a last minute booking for me and the mrs ( 200 for 2 nights ). The only time I've entered the capital other than for work when I lived in the premiere inn near the London eye for 7 months. Once did 3 months in Croydon that was grim and I grew up in a rough area.
I hate the hustle and bustle of capitals.
Anyway question is why would you want to go to London more than once a decade or is it for work?
This user liked this post: tim_noone
-
- Posts: 3552
- Joined: Thu Jan 21, 2016 11:55 am
- Been Liked: 2595 times
- Has Liked: 301 times
Re: Hotel Prices.
Capacity will be down..... demand will be down, but which will be down further?
-
- Posts: 797
- Joined: Fri Jan 22, 2016 6:29 pm
- Been Liked: 197 times
- Has Liked: 48 times
Re: Hotel Prices.
Think hotels will be pricey, as demand will be high. House prices - buy now (probably, but don’t quote me).
-
- Posts: 17108
- Joined: Wed Mar 29, 2017 8:12 pm
- Been Liked: 4384 times
- Has Liked: 15117 times
Re: Hotel Prices.
I'm thinking/hoping the opposite sick of being mugged off by Hotels Hiking up Prices.jackmiggins wrote: ↑Sat May 23, 2020 6:04 pmThink hotels will be pricey, as demand will be high. House prices - buy now (probably, but don’t quote me).
-
- Posts: 797
- Joined: Fri Jan 22, 2016 6:29 pm
- Been Liked: 197 times
- Has Liked: 48 times
Re: Hotel Prices.
Who knows - just a guess.
-
- Posts: 9599
- Joined: Thu Jan 21, 2016 9:45 pm
- Been Liked: 3148 times
- Has Liked: 10237 times
- Location: Staffordshire
Re: Hotel Prices.
There will probably be offers on for longer stays as lots of overseas visitors will stay away probably until next year.
This user liked this post: tim_noone
Re: Hotel Prices.
It was near the centre and it was for work 20 years ago. It's probably worse now. I just compare everywhere to Sailsbury and York and nowhere compares in urban areas.Croydon Claret wrote: ↑Sat May 23, 2020 1:44 pmWhich part of Croydon were you in? There's some really undesirable parts, particularly close to the centre. I don't even want to drive through Croydon centre, never mind live there. It's like the Bronx
If you get further out, away from the town, but into the leafier parts of Croydon borough such as where I am, then there's also some really nice parts. Bit like Burnley really, there's some less so nice parts but if you get further out then it's rather nice.
This user liked this post: Croydon Claret