Demand for Olympics high

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The economic downturn is not hurting Olympics hospitality sales as top–of–the–line tickets have already sold out for Vancouver 2010. Meanwhile, London 2012 chiefs are bullish that the credit crunch will not affect 2012 ticket sales.

Luxury ticket packages to the 2010 Olympic Winter Games in Vancouver have sold out two weeks after going on sale, according to the Games' official hospitality provider CoSport. The 120 packages available – which included guaranteed seats to the men's gold–medal hockey game, along with perks such as hotel stays, meals, airport pickups and host services–were available on a first–come, first–served basis and priced at $34, 500 per couple. Other packages, ranging from the low–end of $4, 000 to $21, 000 are still available at the time of writing, but these too are being snapped up fast, particularly those that include tickets to the Games' opening ceremonies. Most of the luxury packages were sold not to corporate buyers, but to individuals, families and couples, CoSport said. Meanwhile, the Vancouver Organising Committee, which sells individual tickets to the events, says it has sold thousands since the tickets went on sale in early October. Looking ahead to the next Summer Games, ticket sales for the 2012 Olympics will not be adversely affected by the credit crunch according to London 2012 Organising Committee (LOCOG) chief executive Paul Deighton, who has predicted that the event will hit its targets even in a severe recession. Tickets, which make up a significant portion of the Games' £2bn operating budget, will not go on sale until 2011 but LOCOG and the International Olympic Committee are already examining ways of ensuring all venues in London are full in 2012.

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