Hotel prices fall due to recession

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Hotel prices have fallen during the recession. Booking site, Hotel.info, has reviewed the prices of hotel rooms worldwide. The trend of falling prices during the financial crisis have certainly weakened slightly, but no clear recovery has yet been seen.

In most places in Europe and the world the room rates are still well below last year’s levels. Only a few large cities have had a slight increase.

Compared with the third quarter of last year, prices in Europe have fallen most in Moscow, with almost 28 percent. However, Moscow is still high on the most expensive list, where it holds second place after New York. The difference is small though as Moscow has an average cost of €150 compared to €151 in New York.  Stockholm ranks eighth on the same list with €113 per night.

Globally, the price decline has been the worst in Beijing with nearly 39 percent, in Dubai where prices have fallen by over 28 per cent and in Bangkok with over 24 percent.