Hotel Price Barometer February 2010: current overnight prices are still below the level of those before the crisis but it appears that the lowest point has been passed
Nuremberg, 1st March 2010 - The current Price Barometer of the online hotel reservation service hotel.info has shown a definite tendency towards a stabilisation of overnight hotel prices based on a comparison of the data from the more than four million hotel price requests made during February 2010 compared with the previous month as well as with the comparable period from earlier year.
With a few exceptions the prices were still lower than those of February 2008 - comparable month before the onset of the crisis - but in more than half the towns studied the rates were above those achieved in the crisis February of 2009. In addition prices have recovered during the past month. This positive upward trend refers to Europe, but even globally there is also positive upward movement in some of the major cities.
The following hotel.info ranking for the month of February 2010 shows the average hotel price per room and night in Euros for all types and categories of hotel.
Hotel Price Barometer for Europe and worldwide, February 2010
Encouraging recovery from January and very promising tendencies in comparison year on year. However prices are still below those of February 2008. As previously Moscow is the most expensive metropolis; Dubai's room rates have decreased by 43%...London surprisingly has increasing hotel rates.
Town/City
Feb 10
Jan 10
Feb 09
Feb 08
Comparison of Feb 10
with Feb 08 as a percentage
Moscow
164.82
172.96
197.31
230.29
-28.43
Oslo
162.38
143.83
145.87
144.29
12.54
New
York
162.18
163.09
139.05
193.79
-16.31
Sydney
151.32
136.84
135.77
145.41
4.06
London
140.15
125.45
124.40
128.14
9.37
Rio
de Janeiro
133.04
133.22
123.88
101.71
30.80
Copenhagen
132.11
121.67
128.93
125.57
5.21
Tokyo
128.65
133.44
123.96
163.30
-21.22
Singapore
127.04
125.73
123.12
166.68
-23.78
Zurich
126.77
117.43
129.76
141.03
-10.11
Stockholm
121.23
123.29
126.06
134.78
-10.05
Dubai
121.11
99.15
148.70
213.35
-43.23
Helsinki
120.57
114.14
123.54
128.21
-5.96
Paris
116.46
112.88
109.47
113.64
2.48
Amsterdam
104.65
100.42
100.44
127.56
-17.96
Rome
102.11
100.16
113.73
117.74
-13.28
Barcelona
92.79
99.78
87.01
118.14
-21.46
Vienna
86.75
82.92
83.70
94.92
-8.61
Mexico
City
86.36
80.08
100.50
107.19
-19.43
Bucharest
82.22
77.42
90.71
118.99
-30.90
Lisbon
82.19
70.71
77.69
77.06
6.66
Warsaw
81.48
78.74
81.96
100.56
-18.97
Berlin
80.60
78.88
81.16
88.74
-9.17
Istanbul
80.09
75.15
78.79
92.91
-13.80
Madrid
79.43
85.98
88.60
102.80
-22.73
Beijing
78.79
69.34
88.11
119.77
-34.22
Shanghai
75.48
81.51
81.89
111.05
-32.03
Budapest
69.75
63.60
73.55
77.49
-9.99
Prague
60.66
62.11
64.57
78.35
-22.58
Bangkok
56.75
59.66
61.98
88.85
-36.13
The majority of European and global destinations show higher hotel prices than the decrease in January. In the year on year comparison February 2010 shows increased hotel prices in half of the global top destinations New York (+16.6%) as well as Oslo in Norway (+11.3%) and Sydney in Australia (+11.45%) are especially strong. London and Rio de Janeiro are the most surprising. These two cities are the only ones where prices are rising contrary to the general trend. The prices in Rio de Janeiro have increased by 30%, where apparently the world economic crisis passed the city by, and London experienced an untypical and less than average .weakening of rates and these are now above the level of February 2008 before the crisis began. Hotel rooms in Russia's capital city are available at only 75% of the previous rates obtaining two years ago but in spite of this Moscow still has the world's most expensive room rates. Cities such as Prague and Bangkok are again at the foot of the ranking as rooms there cost less than half those in the most expensive cities. The greatest decrease in rates has been experienced by Dubai at -42.23%.
