South African authorities warn service industry not to hike prices during World Cup

South African tourism and football authorities have called on hotels, airline companies and restaurants not to take undue advantage of the World Cup to hike their prices during the international football competition, reports IOL. Over half a million visitors are expected in the Southern African country in the middle of 2010. IOL also states that Media reports have said that some hotels are planning to charge as much as $250 (about R1 700) for a basic room that normally would be $100 to $150. Other reports point to homes along Cape Town’s exclusive Atlantic seaboard renting for $1 000 to $35 000 a day – with one house reportedly renting for a whopping $1-million for the duration of the tournament.