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The average price of a hotel in London has risen by 26% compared to July 2011. One night in the capital will cost an average of 210 pounds, which is 114 pounds more than the average price of a hotel in the rest of Europe (96 pounds). Whilst hotel prices in the UK and Ireland are up, prices are simultaneously dropping across the rest of Europe and overnight accommodation is on average 10 pounds cheaper compared to June. These are the findings of the trivago Hotel Price Index (tHPI) reported monthly by www.trivago.co.uk.
Hotel prices in London have risen 26% compared to July 2011, from an average of 185 pounds per night to an average of 210 pounds. During the period of the Olympic Games (27th July to 12th August), hotel prices have increased by a further 16% to an average of 242 pounds. Overnight accommodation in London during the Olympics is 46% more expensive compared to July 2011 and 75% more expensive than August 2011. The most expensive day to book a hotel during the Olympic Games is July 28th (251 pounds on average) and the cheapest day is August 12th (226 pounds).
The July tHPI shows a rapid increase in London prices compared to the previous month: a London hotel room in June costs an average of just 182 pounds (28 pounds less than the July average). Excluding the week of the Olympic Games, hotel prices in London have been gradually increasing since January at an average of 8% (13 pounds) per month. The average room currently costs 210 pounds, which is a huge 75 pounds (56%) more than January.
Rising prices in the rest of the UK and Ireland
In addition to rising hotel prices in the capital, the rest of the UK is experiencing similar increased prices compared to this time last year. Most noteworthy include Brighton (111 pounds), Manchester (92 pounds) and Cardiff (83 pounds) – up 19%, 15% and 12% respectively, compared to July 2011.
With prices up in the UK, many UK citizens are travelling abroad for their holidays. During the period of the Olympic Games, 63% more UK residents than usual are heading to Amsterdam, 59% more to Barcelona and 50% more to Dublin.
Prices decrease elsewhere in the EU
Whilst London hotel prices have risen 15% during July, elsewhere in Europe prices have decreased dramatically in comparison to June 2012. Out of the 50 major cities listed in the July tHPI, London is the only city with an average overnight accommodation price increase.
Those looking to escape the Olympic celebrations may be able to book a bargain, and should consider last-minute city breaks in Warsaw (54 pounds, down 62%), Rome (102 pounds, down 22%), Oslo (112 pounds, down 21%) or Brussels (81 pounds, down 20%).
Theodore is the Co-Founder and Managing Editor of TravelDailyNews Media Network; his responsibilities include business development and planning for TravelDailyNews long-term opportunities.
