Minutes after the announcement of the Manny Pacquiao and Floyd Mayweather Jr. bout which is set to happen on May 2, rooms at the MGM Grand hotel reportedly have been sold out for the said date and the day before that.

An initial report by TMZ noted that the rooms "sold out like crazy," with the official website showing that the hotel is already fully booked during fight night.

The same article even showed a screenshot of the website indicating that the Saturday night has already been marked "SO" (Sold Out). This made people all around the world panic as thoughts of immediate ticket buying haunted fans wanting to witness one of the greatest fights in boxing history.

The shocking report, however, was dismissed by a USA Today report which explained that a computer glitch made it appear that the MGM Grand hotel was already booked for the Pacquiao-Mayweather fight.

It noted that people wanting to book rooms at the venue of the match could still have a chance to do so as MGM Grand hotel is still accepting reservations.

"The hotel was busily putting the word out Friday night that it has plenty of rooms available for the event's weekend," the USA Today report stated.

Spokesperson for the hotel, Yvette Monet, also said that it was "nowhere near being sold out" and that people can still make reservations at the MGM website and book hotel rooms for May 1 and May 2.

According to Bloody Elbow, the camps of the two fighters seemed silent all week long, prompting fans to suspect that something was already brewing. The report added that for the rest of the week, the room rates at the MGM hotel remained on its usual price but fluctuated yesterday and even reached more than $615 per night.

The MGM Grand Arena can seat only about 17,000 people and Bloody Elbow said that this will sell faster than hotel rooms with many more fans just settling to watch live in nearby casinos.

People should expect higher prices especially in hotel rooms and pay-per-view sites after the fight has been confirmed. Manny Pacquiao vs Floyd Mayweather fight ticket prices are also expected to soar high. Forbes says that "tickets could reach $3,000 average on secondary market."

It is the fight of the century, after all. The two fighters have been rumored to go against each other since 2009 but no concrete plans were made until last year when Mayweather announced that he was ready to fight Pacman.

A New York Times article said that Mayweather and Pacquiao now both wanted to give boxing fans what they want. "I promised the fans we would get this done, and we did," the report quoted Mayweather as saying.

Pacquiao also released a statement expressing how delighted he is with the announcement of the fight. "I am very happy that Floyd Mayweather and I can give the fans the fight they have wanted for so many years. They have waited long enough, and they deserve it."