Sports events prompt surge in hotel rates

25 Feb 2014

Research from hotelier consultants Pegasus Solutions shows hotel rates are rising in the wake of major sporting events in 2014.

The Super Bowl, Winter Olympics in Sochi and the FIFA World Cup in Brazil have had a significant effect on accommodation bookings and hotel rates.

According to the research, rates for accommodation in Russia during the time of the Winter Olympics saw "sporadic" increases compared to 2013. Rates for the commencement of the games increased by 66 per cent compared to 2013.

The biggest increase in Russian hotel rates is slated for February 12, which has seen a 154 per cent increase compared to 2013. February 17 has seen a rate increase of 97 per cent.

In Brazil, the football World Cup has boosted hotel rates in Rio de Janeiro. Sao Paulo has also recorded a surprising increase in bookings with reservations growing by more than 200 per cent compared to typical activity during this time period.

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