HOLIDAY letting prices are set to double or triple across Weymouth and Portland for the duration of the 2012 Olympic sailing events.

Property owners across the borough are looking to make the most of heightened demand and a once-in-a-lifetime opportunity as inquiries pour in.

While some self-catering accommodation has upped prices three-fold, several of Weymouth’s hotels say they will stick to their usual charges so as not to lose out to competitors.

Matthew Boe, portfolio development manager for Blue Chip Holidays in Dorset, said: “We believe tripling the current peak rate for the Olympics is not outlandish – the acid test is ‘Have they booked?’ and a lot of them have.

“We’ve had bookings from the media, sponsors, sailing teams and supporters, particularly for our Ocean View apartments on Portland overlooking the 2012 sailing waters.

“Self-catering is on the increase, property owners have recognised the golden opportunity not only to make money from the Olympics but also the legacy of the Games, which really will put this area on the map.”

Gillian Bannister, the owner of Tides overlooking the Newtons Cove 2012 race area, received her Olympic rates booking just two days after she advertised her three-bedroom property on holidaylettings.co.uk.

The mum-of-two decided to up her £930 peak season rate peak to £1,900 per week over the Olympic period, and £1,750 during the Paralympic sailing competition after receiving several enquiries.

Mrs Bannister, aged 49, of Buckinghamshire said: “I don't believe in being greedy but my house is in a fantastic prime location.

“We don’t want to scare off people who come to Weymouth on holiday but it is a world event and the market will change during that event, we’re only adapting for those few weeks.

“I’m not a big business, it’s only my little house I’ve owned for six years and use every summer as a family.

“We haven’t bought the house thinking the Olympics are going to happen.

“If it’s empty for the Olympics we’ll come down and enjoy the Olympics but if you can earn money from your investment it’s a bonus.”

She added: “I hope Weymouth businesses and shops prosper from the Games.”

Ross Hunt, 34, and his brother David Hunt, 30, were inspired by 2012 to spend £225,000 buying land and building a four-bedroom town house in the Park District.

The Beach House is usually priced at £1,075 per week during peak season but this may double next summer.

Ross said: “We kind of built it to do holiday lets with the Olympics in mind.

“We’ve already had inquiries from the Japanese sailing team and the Canadian sailing team.

“We haven’t decided on prices yet, we’re waiting to see what everyone else does.

“I’ve heard stories of people tripling their rent but I think doubling would be fair, anything else would price us out of the market.”

Ross, who lives in Bournemouth, added: “I love Weymouth but in the summer it’s too busy as it is.

“During the Olympics it would drive me mad, I’m going to stay in and watch it on TV.”

On laterooms.com several Weymouth hotels are listed as being fully booked during Games time.

A spokesman for the Hotel Rembrandt said: “We’re fully booked on some days and we have a big corporate event in, which would have negotiated its rates with the hotel.

“I haven’t been told to charge any extra for guests booking during the Olympics.”