Brits warned of ‘Coronation inflation’ DOUBLING holiday let prices over the long weekend
Thousands of tourists are expected to flock to London for May’s Coronation, prompting warnings of sky-high hotel and hospitality prices.
Data published today by the rental management platform Guestready shows that the price of holiday lets for the coronation period has risen by 67 per cent year on year.
Guestready’s analysis found that the average cost of renting a London holiday let the weekend of the King’s Coronation has almost doubled – up from £485 in 2022 to current prices of £810.
John Severino, UK Country Manager for Guestready said that “there was initially a question mark hanging over the popularity of this Coronation compared to the last one in 1953, but King Charles is clearly set to draw in visitors – not just from the UK but internationally as well.”
Rising prices have led to rising numbers of Brits planning to take long-haul breaks over the period.
“With thousands of Brits and tourists expected to come into London to celebrate the King’s Coronation, it’s expected that prices for accommodation and meals will shoot up as a result,” said Mat Megens, founder of budgeting app Hyperjar.
“Brits are compensating for rising costs by travelling out of the Capital for a getaway over the long weekend,” he told City PM
“At Hyperjar, what we’ve seen is that more people are banding together through shared ‘Jars’ to be able to afford a holiday, and I think that going into summer, this will continue to be the case.”