Hotel prices across the world “stabilisingâ€
Wednesday, 04 Mar, 2010
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A “definite tendency towards a stabilisation” in hotel prices has been identified by online booking service hotel.info.
The company’s latest price barometer show that in more than half the towns studied the rates were above those achieved in February last year.
Prices have recovered during the past month, according to data based on more than four million price requests.
This positive upward trend refers to Europe, but even globally there is also positive upward movement in some of the major cities, according to the company.
February shows increased hotel prices in half of the global top destinations such as New York (+16.6%) as well as Oslo in Norway (+11.3%) and Sydney (+11.45%) are especially strong. London and Rio de Janeiro are the most surprising.
“The prices in Rio de Janeiro have increased by 30%, where apparently the world economic crisis passed the city by, and London experienced an untypical and less than average weakening of rates, and these are now above the level of February 2008 before the [economic] crisis began,” the company said.
“Hotel rooms in Russia’s capital city are available at only 75% of the previous rates obtaining two years ago but in spite of this Moscow still has the world’s most expensive room rates.
“Cities such as Prague and Bangkok are again at the foot of the ranking as rooms there cost less than half those in the most expensive cities. The greatest decrease in rates has been experienced by Dubai at -42.23%.”
by Phil Davies
Phil Davies
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