( dpa ) - Accommodations have become a headache for Peruvian authorities as the country prepares to host two large international summits this year.
The South American country has limited capacity, and some hotels have moved to jack up prices ahead of the European Union-Latin America and the Caribbean summit in May and the Asia-Pacific Economic Cooperation summit in November.
EU-LAC summit organizer Ricardo Vega Llona said Wednesday that some hotels have increased their prices fivefold and the law gives the government few tools to prevent price gouging, since it is the market that establishes prices.
The two summits are expected to attract a total of 30,000 people to Lima.
Vega Llona said 43 countries will be represented at the fifth EU- LAC summit, with 40 heads of state present. Also in the works are a parallel business summit and a social summit.
An estimated 2,000 official delegates and at least 1,000 journalists are expected in Lima for the gathering.
Although fewer countries are set to gather for the APEC summit of 21 nations, it is expected to draw 25,000 people. The heads of state or government of the United States, Japan, China, Russia, Mexico, Chile and other nations are expected to travel to Peru.
Lima lacks a suitable convention centre, and the two summits are to take place at the Museum of the Nation in the San Borja neighbourhood.