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Monday, April 18, 2011

Royal Wedding a boon for London home owners

LONDON: London home owners are set to rake in about 114 million euros from rental income over the weekend of William and Kate's royal wedding.

Asian, American and other international visitors are prepared to pay top prices for a room, even if it is in someone's home.

London's shortage of hotels has prompted royal wedding fans to look for alternative places to stay, raising questions over the city's accommodation needs during the Olympics.

Property experts said London's steep hotel prices and shortage of rooms have prompted a 40 per cent spike in demand.

By Business Times

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