Londoners are excited about April 29, but not because Prince William is set to marry Kate Middleton. They are excited about the cash they expect to garner for renting out their apartments, or “flats,” as Europeans say, to tourists for as much as three times the going rate of a typical hotel room in the city.
There are about 120,000 hotel rooms in London, all of which are expected to be full on the weekend of the wedding, as it is estimated that about a half a million fans of the royal family will visit London for the weekend of the ceremony.
Websites such as Londonrentmyhouse.com have popped up due to demand. London Native Jonathan Thornton told reporters that he is trying to rent his spare room for $792 during the week of the royal wedding, even though he typically charges $237 per week.
Homeowners in London are known to rent out their houses per week for about 50 percent more than they usually do during big ticket events such as Wimbledon and the annual Royal Ascot horse race, Jane Ingram, head of Savills Plc’s rental unit, told reporters.