Hotel Price Radar Report
Hotels across the world increase rates in Q1 2011
The Hotel Price Radar report for Q1 2011 has been released today. The key trends from the report, which compares prices across 40 cities throughout Europe and the rest of the world, are:
· London’s hotel prices are up 12.8 per cent from Q1 2010 with the average room costing €117.73
· Sydney tops the international leader board with hotel prices averaging €178.88 per night – up 26.86 per cent from Q1 2010
· Vancouver has seen the greatest decrease in price, a drop of 51.23 per cent which is a change of €77.58
· Kuala Lumpur is the most affordable international destination, with prices averaging €52.49 and Prague is the most affordable European destination with prices averaging €54.86
Jon West, managing director UK and Ireland, HRS says “Hotel accommodation is becoming more expensive in London and around the globe, but there are still bargains to be found. Hotels in emerging destinations continue to offer real value for money, while in more traditional destinations hotel prices continue to harden.”
European trends
Hotels across Europe saw a year-on-year increase in the price of accommodation. Having suffered in 2010, Athens and Moscow have seen a double-figure increase in the first quarter of 2011.
In Athens, hotels now charge an average of €72.39 per night for a double room. This represents an increase of more than 20 per cent from Q1 2010.
In Moscow, hotel prices have increased by approximately 15.4 per cent to €149.85, securing the city’s lead among Europe’s most expensive cities, followed by Zurich (€141), Oslo (€129) and Stockholm (€123).
Traditionally less expensive cities in Central and Eastern Europe continue to offer the best value when it comes to hotel rooms.
In Prague, prices remained almost unchanged at only €55 – the same of Q1 2010. The Czech Republic continues to offer the most affordable hotel rooms in Europe. Budapest witnessed a slight decrease in prices to just below €64.
Despite and increase in prices, Athens remains one of the more affordable European destinations along with Istanbul, Lisbon and Warsaw.
Top European Destinations Average price (€) first quarter 2011
Average price (€) first quarter 2010 Price development in %
Amsterdam 109.83 104.39 5.21
Athens 72.39 60.29 20.07
Barcelona 99.98 100.14 -0.16
Budapest 63.92 64.23 -0.48
Helsinki 106.92 97.84 9.28
Istanbul 72.42 65.00 11.42
Copenhagen 110.33 109.68 0.59
Lisbon 74.98 67.85 10.51
London 117.73 104.37 12.80
Madrid 85.26 82.50 3.35
Milan 100.43 98.45 2.01
Moscow 148.85 129.02 15.37
Oslo 128.91 112.08 15.02
Paris 113.67 108.32 4.94
Prague 54.86 54.69 0.31
Rome 84.50 83.04 1.76
Stockholm 122.86 108.16 13.59
Warsaw 76.73 71.08 7.95
Vienna 90.78 85.86 5.73
Zurich 140.90 119.82 17.59
Comments
Although northern Honshu in Japan has been decimated by the 3.11 natural disaster and the ongoing Fukushima nuclear crisis has made travel to that area impossible and created concern about visitation to Tokyo, the rest of Japan (including Hokkaido, Nagoya, Kyoto, Osaka, Kobe,Hiroshima, all of Kyushu and all of Okinawa) is as safe as it was on 3.10. No abnormal seismic or radioactive activity, no tsunamis. Those countries with ongoing blanket travel advisories against visiting Japan are counter productive and do not reflect reality. The USA and Australia amongst others, already have modified theirs limited to Eastern Japan. As a resident of Tokyo and someone actively involved in lodging, it is heartbreaking to see the damage these ill informed travel advisories are having on our industry and its employees. Today's press, quoting government sources, report well in excess of 500,000 cancellations have been received across Japan since 3.11. Whilst large hotel chains will survive, at risk are the smaller stand alone establisments, including many of Japan's famed ryokan.
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