Luxury hotels in London are cutting their prices as the economy wobbles and new competition heats up. After the big revenge travel wave following COVID, when some rooms were one thousand pounds and up, the city’s top hotels are rethinking their nightly rates. The new prices are lower and more people can now book a luxury stay.

You can see the competition’s effect in the renowned hotels. Raffles at the OWO, which opened in 2023 and began at one thousand one hundred pounds a night, is now selling rooms for about eight hundred eighty pounds a drop of twenty percent. The Peninsula London, which started at one thousand three hundred pounds, now lists rooms from nine hundred pounds. Even the new Emory Hotel in Knightsbridge, which first charged one thousand six hundred pounds, is showing rooms from nine hundred thirty six pounds.