Landslide of hotel prices before the Christmas

Landslide of  hotel prices before the Christmas
Landslide of hotel prices before the Christmas
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The world financial crisis didn’t leave the hotel business aside. The global falling-off in production and consumer interest badly affected the leading hotel chains. In order to retain the customers, almost all the hotels in Europe were forced to reduce their room prices.

In particular, the landslide of prices for hotel services was noted in several European capitals. The hotels in Dublin, Prague and Amsterdam had to make significant reduction in prices in order to provide occupancy of their rooms for the Christmas and New York holidays. Even so, according to some analysts, even such unprecedented discounts will not insure the hotels against loses. In order to avoid bankruptcy and reduce side effects European hotels will have to go to extremes, even to close the entire floors to save on cleaning and room services.

Meanwhile not only the hotels of the Old World reduce the prices. Such a tendency can be noted in the USA, too. Many hotels stimulate the demand with incredible discounts. Many hotels in Las-Vegas have reduced the prices for their rooms by 20-30%. Thus, the suite in one of the most luxurious hotels of the city -Luxor - will now cost 185 USD instead of the previous 235 USD. Other well-known hotels of the gambling capital offer even bigger discounts. The price of the suite in Mandalay Bay has fallen from 324 USD to 229 USD, and the suite in the famous Trump Tower became two times cheaper – from 365 USD to 150 USD.

Date: 29/11/2008


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