Travel — 24 March 2011
London hotel prices reflect state of the economy. Photo shows the Russell Hotel, London.

London hotel prices reflect state of the economy. Photo shows the Russell Hotel, London..

During the G20 meeting of heads of national banks and finance ministers of the 20 leading industrial and developing countries last month, the International Monetary Fund (IMF) reported that the global economy was continuing to recover.

The IFO Indicator of the global economic climate has also improved considerably according to the results of the World Economic Survey (WES) for the first quarter of 2011.

Not only the present situation but also the prospects for the coming five to six months are considered to be better. All this points to stronger world trade which will certainly have an influence on the hotel industry since the increased demand for hotel rooms from business and leisure travellers has caused the prices to rise in many international cities.

hotel.info [ http://www.hotel.info ], the online hotel reservation service, offered free of charge to users, has more than 210,000 hotels worldwide and has discovered through their hotel price research in February 2011 where hotel rooms are particularly low-priced and in which major cities guests have to dig especially deep in their pockets.

The latest results show that:

– Moscow with 178.50 Euro at the top, Bangkok is comparatively reasonable
– London hotel rooms have increased in price in a year on year comparison

The results of the Hotel Price Barometer comparing major cities internationally (prices in Euros)

 

City Feb 11 Jan 11 Feb 10 Comparison of Feb 11 with Feb 10 in %
1. Moscow 178.50 180.56 164.82 8.30
2. Sydney 170.44 145.50 151.32 12.64
3. New York 158.67 148.13 162.18 -2.16
4. Tokyo 156.61 162.72 128.65 21.73
5. Singapore 156.27 153.39 127.04 23.01
6. Stockholm 153.47 149.06 121.23 26.59
7. Oslo 152.66 156.03 162.38 -5.99
8. London 150.02 140.87 140.15 7.04
9. Zürich 148.44 153.44 126.77 17.09
10. Rio de Janeiro 139.19 138.00 133.04 4.62
11. Helsinki 129.78 125.95 120.57 7.64
12. Copenhagen 126.83 120.39 132.11 -4.00
13. Paris 122.14 116.90 116.46 4.88
14. Amsterdam 118.88 115.82 104.65 13.60
15. Dubai 109.05 110.69 121.11 -9.96
16. Rome 99.06 98.27 102.11 -2.99
17. Barcelona 96.63 100.98 92.79 4.14
18. Mexico City 94.84 75.45 86.36 9.82
19. Shanghai 92.31 94.64 75.48 22.30
20. Vienna 90.16 84.57 86.75 3.93
21. Madrid 84.74 82.74 79.43 6.69
22. Beijing 84.42 79.03 78.79 7.15
23. Istanbul 84.35 76.47 80.09 5.32
24. Lisbon 82.17 74.15 82.19 -0.02
25. Warsaw 80.43 85.11 81.48 -1.29
26. Berlin 80.32 77.16 80.60 -0.35
27. Bucharest 79.51 77.94 82.22 -3.30
28. Budapest 70.79 71.54 69.75 1.49
29. Prague 61.53 61.99 60.66 1.43
30. Bangkok 55.22 68.86 56.75 -2.70
Average 113.58 110.88 106.93 5.89

Hotels in many international major cities are benefitting from increased room rates. The biggest price increase year on year is in Stockholm. The Handball World Championship which took place in Sweden at the beginning of the year could be the reason for the higher rates being maintained. Once again the most expensive hotels in the world are to be found in Moscow. As far back as February 2010 the hoteliers in the Russian capital Moscow managed to be in first place. Booking customers have to pay even more now than in the previous year. On average you will pay about 8% more – 178.50 Euro for a room in the largest city in Europe. The hotels in Sydney are not far behind. Hotel guests can book a room for an average of 170.44 Euro in February this year.

However guests staying in London do not have to hand over quite so much but even at 150.02 Euro the largest city in the United Kingdom still counts amongst the 10 most expensive cities in the world. The quarter final home games of the London soccer clubs in the Champions League could be a factor in determining the hotel prices.

The cheapest rooms are still to be found in Bangkok. Compared with January of this year hotel guests are able to benefit from a further reduction in price and can obtain rooms for about 55 Euros.

Image via Wikipedia.

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About Author

Richard Lee

Richard has been traveling since he took a year off from college, where he was doing a BA in Journalism. He traveled half the world, backpacking with his girlfriend (now his wife). They spent time in South America, Asia, Greece and much of Europe. After writing about his experiences for several airline and travel magazines, he never went back to college.

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