Economic Reality Dawns

It seems that the forces of economics have finally prevailed on the hotel owners of Greece.

As reported earlier on this site, there are some 5 million unsold tickets for the Olympics 2004; which are being held in Athens in a few weeks time. This shortfall of an Olympic audience naturally has had a knock on effect on hotel occupancy rates.

I have noted on several occasions that, when tickets don't sell, one helpful mechanism is to reduce the price.

Although the Olympic Committee stubbornly refuses to lower the prices of the tickets, at least the hotel owners in and around Athens have a little more economic "savvy".

The greedy hotel owners, who had attempted to "milk the Olympic tourists dry" by putting up their prices (by up to four time the normal amount for this time of year); have realised they will be left with empty rooms, unless they curtail their greed.

It is reported that the "bargain" rates on offer now include rooms in the Holiday Inn at £800 per night, down from a whopping £1260 per night.

I have to say that the greed displayed by the hotel owners, and others connected with the Olympics, is truly mind numbing. I have little sympathy for them if they take a loss on this event; Olympic tourists are not mindless cattle, that can be milked for every last Pound or Dollar.

My advice, to any of you who are thinking of travelling to Athens for the Olympic Games, is to "play hard ball" with the hotel owners and airlines.

Whatever price they quote you, ask for another 20% off at least; and remind them that there are 5 million unsold tickets for the Games.

Use the "Last Minute" advert on the menu bar of this page as a starting point for pricing your trip.

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