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Moscow hotels top price league

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Feb 18, 2008

Moscow has extended its lead as the most expensive hotel market in the world with average room rates nearing £250 a night, according to corporate services supplier Hogg Robinson Group.

Although growth in pricing was robust in most major cities, signs are emerging that the market could be reaching a peak.

HRG director of global hotel relations Margaret Bowler said: "We know the market will pop at some point. Will it be 2008? January was softer, but so far a lot of the hotel groups are sticking to their pricing rather than reflecting occupancy rates."

Despite the widespread rise in room rates - London was up 4pc at £154 per night - markets such as Liverpool and Bristol, Bangalore in India and Philadelphia in the US saw a slight fall in pricing. According to HRG, these were explained by significant increases in supply and a maturing local market.

The hotel market in Mumbai was one of the fastest growing, with room rates up 36pc over the year to £160. The increase pushed the city from 28th most expensive to seventh.

London remains relatively cheap at 10th in the list. New York (£192), Paris (£171) and Dubai (£165) are all more expensive.

Ms Bowler said: "The hotel industry has shown a strong performance throughout 2007 - although not to the levels of 2006."

Moscow hotels top price league

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