Moscow hotels ranked most expensive

Prices paid by travellers to Moscow topped those for New York (Q2 2006), despite Moscow prices falling 28% from highs seen a year before, according to the Hotels.com Hotel Price Index (HPI).
The Russian capital cemented its status as the world’s most expensive city, with prices paid averaging £167 per night between April and June 2006.  Prices paid in second-placed New York were just £140; up 16% on the same period a year ago.  By comparison, prices in London were a snip, with just £91 being the average price paid.

The Hotels.com HPI is based on prices for 20,000 hotels across 1,000 locations and is based on the actual prices paid by customers - rather than simply advertised rates.  This makes it one of the most comprehensive and accurate sources of pricing information devised.

Patrik Oqvist, marketing director of Hotels.com EMEA comments: “Moscow has long been a popular destination for tourists and business travellers alike, however, it is the fact that its hotel prices can fall 28% and it can still be the most expensive city in the world for a night’s sleep that caught our attention.

Highest prices paid: US destinations top the tables

When it comes to prices paid, US cities dominated the top of the tables, with Boston (£135 per night on average) and Chicago (£125) joining New York in the top five most expensive cities and Washington (£118) also in the top ten.

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Venice was the most expensive of the leading Western European destinations, with prices paid coming in at £123 per night on average during Q2 2006.  Leading the “rest of the world” was Dubai at £119, while Tokyo was the highest-priced far eastern destination, a room for the night costing the average traveller £106.

The price is right?: the world’s cheapest cities

At just £57 per night, Bangkok has the cheapest average hotel prices paid amongst the top-50 major tourist cities in the world, according to the Hotels.com HPI.

The Thai capital is closely followed by Buenos Aires (£62) and Bilbao (£63) in the “good value” chart.  Major Chinese destinations, Shanghai (at just £66 paid per night) and Beijing (at £69) also feature in the chart of the world’s “cheapest sleeps”.

On the up, falling fast

Tsim Sha Tsui, Hong Kong’s tourist and business centre, has suffered the fastest drop in prices paid over the past 12 months, according to the Hotels.com HPI.  Prices fell 30% to an average £90 per night in the city.

Moscow’s 28% annual price fall was second in the table, while Los Angeles hotel prices fell by 17% in Q2 2006 relative to prices a year before.

At the other end of the scale, Frankfurt showed the highest rise in prices - driven by demand from football fans in Q2 2006.  Prices paid by visitors to the city were up 44% on the same time a year previous.  Prices in Berlin also rose 12%.

Prices in Boston rose by one fifth (21%) year-on-year in Q2 2006, making it the city with the second-fastest rising prices.  Prices in Rio de Janeiro rose 18%, making it third in the table of risers.

Patrik Oqvist adds: “Average prices paid across Germany rose rapidly through Q2 2006 in Germany, probably due to the world cup - which shows that the impact can be of a major event on a country’s hospitality industry and the prices of rooms.  It certainly bodes well for the UK market as we look forward to a number of cultural and sporting events, culminating with the Olympics in 2012.”
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