Hotels cutting rates “by up to 40%â€
Sunday, 01 Mar, 2010
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Hotel room rates were cut by as much as 40% in January, with reductions being made across most of Europe, according to a new study.
The average price of a double room in Madrid and Moscow fell by up to 25% against the same month in 2009 while cuts of up to 16% were made in Istanbul and Zurich.
London was one of the exceptions to the rule with hotel prices in the capital remaining stable on average, the Hotel Price Radar report from hotel booking portal HRS.com found.
Prague saw the greatest rate increase in January with hotel rates showing a five per cent rise.
Globally, Mumbai was the city showing the biggest drop in prices year-on-year, with reductions of up to 40%.
Visitors to Dubai profited from rate cuts of up to 30% while hotel prices fell by 25% on average in Buenos Aires and Mexico City.
New York stayed true to its reputation for being one of the most expensive cities in the world – even though its prices fell by 13%.
Hoteliers in Vancouver pushed up their prices in the run-up to the forthcoming Winter Olympics. Other expensive cities were Seoul and Toronto.
HRS.com UK and Ireland commercial director Jon West said: “This report has revealed the measures the hotel industry is going to in order to make sure they are not out-priced.
“It is important in today’s climate, more so than ever, for hotels to offer their customers great value for money to ensure they retain a competitive edge in the current market.
“2010 looks set to be another very challenging for our sector and these findings should certainly be seen as a positive – bargains are out there to be had and keeping the industry competitive will only serve to keep customers happy.”
by Phil Davies
Phil Davies
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