Hotels in Europe raised prices

Euro
European hotels have raised prices for accommodation
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The European hotel industry finally shows the signs of recovery after several years of global financial crisis: the price of accommodation in hotels again started to rise. An impressive figure is the growth of current prices - only during the month of April the average price for a hotel room increased by 12%.

Not so long ago, most European hotels were in desperate situation because of the financial crisis that affected all economic sectors worldwide and hotels have been forced to reduce prices for staying on average for 30 percent. During this period, almost everywhere among business people and travelers has increased tendency to make short trips, starting early in the morning to return home late at night to avoid the additional costs to pay for the hotel. At the moment the economy is over. Travelers again prefer to spend the night in the hotel than make an exhausting day trip. Hotels in turn, sensing the growing interest of consumers, raised prices to a height not comparable with last year's level.

According to the Trivago's Hotel Price Index, April 2010 became one of the most successful months for hotels in Europe. During this period, the average cost for a standard double room has increased by at least 12% and 10-20% compared with October 2009. However, it should be noted that in such frequently visited tourist centers of Europe like Rome, Barcelona, Istanbul or London prices for hotels rose for 42% compared to the last year. Prices for accommodation in the Czech Republic rose by about 38%, in Turkey - 24% and Russia - 19%.

According to analysts, this increase in prices can be dictated by the high season of Easter holidays and the beginning of sunny holiday season. It is also possible that there is a significant impact of the crisis associated with the eruption of a volcano in Iceland, which resulted in the closure of the airspace of most European countries and the elimination of tens of thousands of flights.

Nevertheless, the tourism industry gets on its feet again and it is likely that prices for hotels will remain at current levels until the end of the year.

Alesia Belaya

Photo: Alesia Belaya

Date: 23/04/2010

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