The cost of a four-night stay for a family of four during the Jubilee period is an average of 54 per cent higher than for four nights in May, a study released by the Santander banking group suggests.
The report also found that some hotels have increased their charges by up to 223 per cent.
Those booking luxury accommodation face the most substantial rises – an average of 81 per cent more than an equivalent weekend in May.
The three- and five-star hotels included in the study showed a price-range from £832 to £6,606 for a four-night stay from June 2 to June 6, for a family of four.
In comparison, the same hotels had a range of £710 to £4,302 for a Saturday to Wednesday stay in mid-May.
The premiums charged by hotels are significantly more than they were during last year’s Royal Wedding, the research suggests. Increases of up to 113 per cent were reported then, with the average price hike being 26 per cent.
Not only London has been affected by price rises for the extra bank holiday. Families visiting Edinburgh can expect to pay an average of 28 per cent more than usual, while an eight per cent increase is reported in Manchester.
“Demand for hotel rooms in London is likely to be fierce over the Jubilee Bank Holiday weekend,” said Andy Smith of Santander. “The premiums our research has uncovered will price many families out of the capital altogether.”