The
strongest growth in hotel rates in the first half of 2012
took place in Latin America, whilst hotel prices across the
Eurozone either fell or remained flat, according to the latest
bi-annual hotel survey from Hogg Robinson Group (HRG).
Although
the HRG survey reveals a fragmented global picture, the international
hotel market appears to be stabilising, showing a 1% variance across
the top 50 cities, compared to 4% during the same period in 2011.
Twenty-three cities showed a year on year increase in rate, and three
have maintained the same rate. This is compared to 33 cities which
showed a year on year rate increase in 2011.
Trends
noted by HRG include:
For
the 8th year in a row, room rates in Moscow are far and away the
highest of any destination monitored by HRG.Hotel prices in the
Russian capital have risen 3% in local currency over the past year.
Lagos
emerged as the second most expensive destination due to the high
volume of inbound business travel to Nigeria connected with
the oil industry. Travellers to Lagos are also conscious of the
city’s well-documented security issues and are more inclined to
stay in five-star accommodation.
Mexico
City showed the highest increase in room rates at 30% in local
currency, as growth in demand, coupled with a lack of new openings,
drove an aggressive increase in average rates. Across the wider Latin
American region, Rio de Janeiro and Sao Paulo showed rate
increases of 15% and 23% respectively.
Hotel
rates in India were driven down by the country’s economic slowdown
and lack of capital for new investments. Mumbai showed an average
room rate decrease of 7% and Bangalore 21% in local currency.
The
financial crisis affected average room rates across the Eurozone,
leading to rate decreases in key European cities, notably Barcelona
which saw rates fall by 22% in local currency. Madrid and Dublin also
showed 2% and 6% rate decreases respectively.
The
UK saw a 2% room rate increase, primarily driven by high rates in
London and a select number of regional cities, including
Liverpool where room rates jumped by 8% following increased economic
activity in the region.
Key
destinations in the USA, including New York, San Francisco all saw
average hotel room rates rise in the first half of 2012, as business
activity increased in line with economic performance.
Top 50 Cities Globally by Average Room Rate Top 50 Cities Globally by Average Room Rate
City
|
Jan - Jun 2012
|
Jan - Jun 2011
|
Variance to 2011
|
Jan - Jun 12 ARR
|
Jan - Jun 11 ARR
|
Local Variance
| ||
ARR
|
ARR
|
GBP
|
%
|
Local
|
Local
|
Local
|
%
| |
MOSCOW
|
£258.11
|
£260.68
|
-£2.57
|
-1%
|
RUR 12,415
|
RUR 12,048
|
367
|
3%
|
LAGOS
|
£217.05
|
£231.18
|
-£14.13
|
-6%
|
NGN 54,155
|
NGN 57,183
|
-3027.4
|
-5%
|
GENEVA
|
£215.92
|
£227.64
|
-£11.72
|
-5%
|
CHF 316
|
CHF 333
|
-17
|
-5%
|
ZURICH
|
£211.09
|
£220.40
|
-£9.31
|
-4%
|
CHF 309
|
CHF 323
|
-14
|
-4%
|
RIO DE JANEIRO
|
£204.65
|
£196.80
|
£7.85
|
4%
|
BRL 600
|
BRL 518
|
83
|
16%
|
NEW YORK CITY
|
£203.54
|
£193.96
|
£9.58
|
5%
|
USD 321
|
USD 313
|
8
|
2%
|
SYDNEY
|
£198.28
|
£197.29
|
£0.99
|
0%
|
AUD 303
|
AUD 308
|
-6
|
-2%
|
HONG KONG
|
£194.51
|
£189.84
|
£4.67
|
2%
|
HKD 2,380
|
HKD 2,387
|
-7
|
0%
|
PARIS
|
£193.91
|
£208.21
|
-£14.30
|
-7%
|
EUR 236
|
EUR 240
|
-4
|
-2%
|
WASHINGTON
|
£191.87
|
£198.75
|
-£6.88
|
-3%
|
USD 303
|
USD 321
|
-19
|
-6%
|
STOCKHOLM
|
£191.16
|
£201.77
|
-£10.61
|
-5%
|
SEK 2,063
|
SEK 2,077
|
-14
|
-1%
|
SAN FRANCISCO
|
£180.38
|
£162.55
|
£17.83
|
11%
|
USD 284
|
USD 263
|
22
|
8%
|
OSLO
|
£180.35
|
£193.70
|
-£13.35
|
-7%
|
NOK 1,660
|
NOK 1,746
|
-87
|
-5%
|
TOKYO
|
£177.82
|
£162.50
|
£15.32
|
9%
|
JPY 22,348
|
JPY 21,507
|
841
|
4%
|
SAO PAULO
|
£170.95
|
£154.95
|
£16.00
|
10%
|
BRL 502
|
BRL 408
|
93.789
|
23%
|
FRANKFURT
|
£170.62
|
£168.88
|
£1.74
|
1%
|
EUR 207
|
EUR 195
|
12
|
6%
|
COPENHAGEN
|
£169.08
|
£166.55
|
£2.53
|
2%
|
DKK 1,528
|
DKK 1,431
|
97
|
7%
|
SINGAPORE
|
£167.97
|
£159.76
|
£8.21
|
5%
|
SGD 335
|
SGD 325
|
10
|
3%
|
ROME
|
£167.18
|
£165.82
|
£1.36
|
1%
|
EUR 203
|
EUR 191
|
12
|
6%
|
ISTANBUL
|
£165.08
|
£196.05
|
-£30.97
|
-16%
|
TRL 469
|
TRL 497
|
-29
|
-6%
|
LONDON
|
£164.00
|
£156.82
|
£7.18
|
5%
|
GBP 164
|
GBP 157
|
7
|
5%
|
DUBAI
|
£162.81
|
£148.44
|
£14.37
|
10%
|
AED 943
|
AED 881
|
62
|
7%
|
BASEL
|
£161.16
|
£162.04
|
-£0.88
|
-1%
|
CHF 236
|
CHF 237
|
-1
|
-1%
|
AMSTERDAM
|
£160.86
|
£172.63
|
-£11.77
|
-7%
|
EUR 195
|
EUR 199
|
-4
|
-2%
|
MILAN
|
£156.79
|
£170.28
|
-£13.49
|
-8%
|
EUR 191
|
EUR 196
|
-6
|
-3%
|
BRUSSELS
|
£152.38
|
£162.04
|
-£9.66
|
-6%
|
EUR 185
|
EUR 185
|
0
|
0%
|
ABU DHABI
|
£147.81
|
£158.07
|
-£10.26
|
-6%
|
AED 856
|
AED 938
|
-82
|
-9%
|
NAIROBI
|
£144.31
|
£140.03
|
£4.28
|
3%
|
KES 18,854
|
KES 18,685
|
169.03
|
1%
|
DUSSELDORF
|
£143.67
|
£144.90
|
-£1.23
|
-1%
|
EUR 175
|
EUR 167
|
8
|
5%
|
JOHANNESBURG
|
£142.99
|
£160.05
|
-£17.06
|
-11%
|
ZAR 1,786
|
ZAR 1,777
|
9
|
0%
|
MUMBAI
|
£137.78
|
£167.65
|
-£29.87
|
-18%
|
INR 11,390
|
INR 12,245
|
-855
|
-7%
|
HOUSTON
|
£133.35
|
£121.70
|
£11.65
|
10%
|
USD 210
|
USD 197
|
14
|
7%
|
SHANGHAI
|
£132.94
|
£123.00
|
£9.94
|
8%
|
CNY 1,320
|
CNY 1,298
|
22
|
2%
|
BEIJING
|
£131.06
|
£121.41
|
£9.65
|
8%
|
CNY 1,301
|
CNY 1,281
|
20
|
2%
|
CAPE TOWN
|
£130.82
|
£140.63
|
-£9.81
|
-7%
|
ZAR 1,634
|
ZAR 1,562
|
72.02
|
5%
|
PHILIDELPHIA
|
£126.61
|
£116.44
|
£10.17
|
9%
|
USD 200
|
USD 188
|
11
|
6%
|
BERLIN
|
£119.91
|
£125.67
|
-£5.76
|
-5%
|
EUR 146
|
EUR 145
|
1
|
1%
|
MADRID
|
£119.72
|
£128.65
|
-£8.93
|
-7%
|
EUR 145
|
EUR 148
|
-3
|
-2%
|
BARCELONA
|
£112.65
|
£152.15
|
-£39.50
|
-26%
|
EUR 137
|
EUR 175
|
-38
|
-22%
|
ABERDEEN
|
£110.21
|
£106.91
|
£3.30
|
3%
|
GBP 110
|
GBP 107
|
3
|
3%
|
HEATHROW AIRPORT
|
£109.71
|
£110.60
|
-£0.89
|
-1%
|
GBP 110
|
GBP 111
|
-1
|
-1%
|
BANGALORE
|
£106.73
|
£153.40
|
-£46.67
|
-30%
|
INR 8,823
|
INR 11,204
|
-2,380
|
-21%
|
MEXICO CITY
|
£105.65
|
£88.07
|
£17.58
|
20%
|
MXN 2,207
|
MXN 1,691
|
515.58
|
30%
|
BUDAPEST
|
£101.55
|
£103.31
|
-£1.76
|
-2%
|
HUF 36,428
|
HUF 32,045
|
4,383
|
14%
|
MUNICH
|
£98.96
|
£123.03
|
-£24.07
|
-20%
|
EUR 120
|
EUR 142
|
-22
|
-15%
|
DUBLIN
|
£97.77
|
£109.94
|
-£12.17
|
-11%
|
EUR 119
|
EUR 127
|
-8
|
-6%
|
MANCHESTER
|
£93.00
|
£93.06
|
-£0.06
|
0%
|
GBP 93
|
GBP 93
|
-0
|
0%
|
NEWCASTLE UPON TYNE
|
£91.77
|
£91.37
|
£0.40
|
0%
|
GBP 92
|
GBP 91
|
0
|
0%
|
EDINBURGH
|
£89.74
|
£88.42
|
£1.32
|
1%
|
GBP 90
|
GBP 88
|
1
|
1%
|
BELFAST
|
£87.87
|
£81.31
|
£6.56
|
8%
|
GBP 88
|
GBP 81
|
7
|
8%
|
