- Dublin’s hotel rates up 69.6pc to €195
- Collapse of sterling sends Dublin rates €17 above London
- Oslo Europe’s most expensive European city at €222.
- Average room rates for Rio de Janeiro down 32pc
Research by global hotel sales channel for business customers HRS has revealed Dublin’s average hotel room rates have risen by 70pc to €195 between Q2 2015 and Q2 2016. This means that Dublin rates are on average €17 higher than London, which has seen a sevenpc drop during the same period.
Oslo is the most expensive European capital city to stay in at €222 per night also up 70pc on last year. Dublin takes the number two spot with London dropping down to third position in rankings.
HRS say the cities that experienced the largest decrease in hotel room rates are Sao Paulo and Rio de Janerio. This is likely to have been impacted by the heavily media-covered Zika Virus, which has deterred many people from travelling to South America.
New York retains its position as the most expensive city in the world with an average room per night setting the purse strings back by €235. Rates dropped 12pc on last year’s Q2. San Francisco continues to record strong rates with an average room costing travellers €218, and Tokyo coming in third with hotel owners setting their rates at €180 per night.
Hotel room rates increased across major capital cities globally compared to Q2 2015, reflecting an overall uplift across the global marketplace despite recent terrorist events heightening safety concerns.
HRS say hotel prices across Europe have risen 50pc. Highest percentage rise for average hotel room rates was shared by Dublin and Oslo (70pc), followed by Stockholm (15pc) and Helsinki (14pc).
Istanbul has suffered the most with the highest decrease in hotel room rates, showing an almost 20pc decline and an average night’s stay costing just €75. Moscow and Milan aren’t far behind with average rates dropping 16pc and 14pc respectively.
Buenos Aires and Cape Town recorded the highest increases in average room rates for hotel stays. Rates in Buenos Aires have spiked by 20pc to €113 per night, whilst travellers to Cape Town will be set back €116 – 15pc higher than Q2 in 2015.
Jon West, Managing Director of HRS for the UK and Ireland, commented: “Dublin is certainly one to watch at the moment and has recovered significantly following its recent economic crisis. Those travelling on a budget should still look to Asia for its keenly priced capitals. In fact, Kuala Lumpur cost just £56 per night in Q2 2016, meaning travellers could book nearly four nights in Malaysia’s capital compared with just one night’s stay in New York. It will be interesting to monitor how rates are affected during the Olympci Games this summer for Rio to see if these prices rise as hoteliers look to maximise spend by sports fans visiting during this time. The Q3 2016 results will certainly be telling. England’s room rates have dropped for Q2 2016 by an average of 7pc against the same period the previous year, this is certainly something to keep an eye on but it could present an opportunity for UK tourism and the business travel industry.
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