In Europe, prices have risen sharply in the east and south
The European cities selected by HRS experienced an average rate increase of 5%. With a price of 177 euros per night, London arrives at the top of the most expensive destinations. In the top 5, come Zurich (177 euros also), Oslo (165 euros), Copenhagen (161 euros) and Stockholm (148 euros).
We note that several cities located in areas previously “cheap” – in Eastern Europe and southern Europe in particular – have seen their prices rise sharply between 2016 and 2017. This is the case in Prague that prices hotels have increased the most: the average price of a night has increased by 12% over the period, from 75 to 84 euros. Budapest (+ 8.6%, 88 euros), Warsaw (+ 9.3%, 82 euros) and Moscow (+ 10.3%, 96 euros) are not left behind. Same movement in southern Europe: prices rose quite sharply in Madrid (+ 10.1%, 109 euros), in Barcelona (+ 9.3%, 129 euros), in Lisbon (+ 9.7%, 102 euros ) or Athens (+ 9.6%, 103 euros). The cheapest metropolis remains Istanbul (78 euros per night).
It is in Prague (Czech Republic) that the price of a hotel night increased the most between 2016 and 2017.
• Worldwide: Toronto is experiencing the largest increase as prices in Asia plummet
“Increases are once again widespread in the world,” says HRS. New York is the most expensive city with an average price of 250 euros per night, just in front of Washington (230 euros) and Sydney (196 euros). The largest price increase was observed in Toronto: + 30.6%, or 158 euros per night. “The reason could be the celebration of the 150th anniversary of Canada’s independence, which took place in Toronto throughout the year,” says the study.
Conversely, several Asian cities experienced sharp price declines: Seoul (-25.1%, 125 euros per night), Kuala Lumpur (-20.3%, 51 euros per night) or Singapore (-6 , 4%, 160 euros per night).