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SBD/April 22, 2011/Olympics
Premier Inn Balks At Deal To Provide Discounted Hotel Rooms For London Games
Published April 22, 2011
HOT MARKET: The TELEGRAPH's Magnay reports LOCOG officials are "bullish about the number of ticket orders placed in the public ballot but are expecting a big rush of applications on Sunday night." Sources said that there has been "huge demand for popular finals tickets and pleasing levels of interest in some of the mid-tier and less popular sports." As expected, the "highly sought-after events have been the opening ceremony, the swimming finals and preliminaries, cycling finals, track and field, diving, gymnastics and equestrian -- all of which have been flooded with applications." All oversubscribed sessions "will be subject to a ballot." There are 6.6 million tickets "for sale in this public ticket offer, and while there will be future sales opportunities, this current ballot is the best chance of securing a seat." LOCOG CEO Paul Deighton said that he expects to have about US$165M worth of tickets "still to sell when the ballot closes at midnight on Tuesday," representing 20% of LOCOG's ticketing revenue target of about US$825M (London TELEGRAPH, 4/22).