Prices for hotels are growing, but growth is still far from to be stable

Hotels in Moscow are leaders again

Regular analysis of the hotel market in 2010 of one of the travel agencies once again stressed a common trend. Hotels in Moscow are the most expensive in the world.

New York, Geneva, Paris, Zurich - something does not allow these cities to set prices for hotel rooms higher than the Moscow ones. According to a study of Hogg Robinson Group, a British touring operator specializing in services in the field of business travels, hotels in these four cities in the business segment yield the price palm to the Russian capital, according to themoscowtimes.com.

According to the Hogg Robinson Group, the average daily cost of staying in Moscow business hotels is about $415. The company's analysts noted the decline in rates by 3% in 2010.

Hotels in Hong Kong, Zurich and Stockholm have shown impressive growth by almost 10%. What, however, has not helped them to climb to the top, where Moscow hotels hold their positions.

The rapid growth of the rates was demonstrated by hotels in Sydney. They have risen on average by 21% (up to AU $234).

According to a study of Hogg Robinson Group, among the 75 cities participating in the survey, about a half showed the rising in the cost of living in hotels for business travelers.

It is worth noting that the rise and fall in the hotel costs in the global hotel market in 2010 were characterized by heterogeneity. The largest price boom was recorded in emerging markets: China, India and Argentina.

While in developed markets the same growth does not look stable everywhere. Thus, if the cost of living in hotels of Great Britain rose in 2010 by 3%, this growth was not marked everywhere. Traditionally popular remained hotels near airports. Hotel prices in Gatwick and Heathrow in 2010 risen by 3-5%. At the same time, hotels in Milton Keynes, one of the largest cities in the south of England, fell in price by 14%. As for London, hotel prices here rose in 2010 on average by 3%.

Among the most visible world outsiders is the Qatari capital Doha, where the fall of prices for hotel rooms was about 10%.

Date: 24/02/2011