During the G20 meeting of finance ministers and heads of national banks of the 20 leading industrial and developing countries in mid-February the International Monetary Fund (IMF) reported that the global economy was continuing to recover. Also the ifo Indicator of the global economic climate has once more 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 month…
During the G20 meeting of finance ministers and heads of national banks of the 20 leading industrial and developing countries in mid-February the International Monetary Fund (IMF) reported that the global economy was continuing to recover. Also the ifo Indicator of the global economic climate has once more 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. 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, 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.
Theodore is the Co-Founder and Managing Editor of TravelDailyNews Media Network; his responsibilities include business development and planning for TravelDailyNews long-term opportunities.
