With the cost of a one-night hotel stay down 7.3 per cent in Q2 2016, the British capital is a prime destination for travelers hoping to see Big Ben without breaking the bank, reveals the HRS Global Hotel Solutions hotel price barometer, published today.
A single-night hotel stay in London now costs an average €177. According to HRS, which offers business solutions for global hotel procurement, the Brexit vote and the drop in sterling have contributed to pushing down hotel rates in the British capital. London is also suffering from the security concerns currently affecting the Parisian tourist trade. The German capital Berlin is affected too, where hotel rates remain unchanged.
In Paris, the consequences of recent terror attacks are more marked. A single-night hotel stay in the French capital in Q1 2016 cost 4.8 per cent less year on year. This was followed by second drop of 2.7 per cent in Q2. Tourists heading for the Eiffel tower should now budget an average €142 per night for their hotel stay. However, HRS has identified other reasons for the Parisian price cuts. The impact of “alternative” accommodation solutions such as Airbnb, which is particularly well developed in Paris, shouldn’t be underestimated, the firm points out. France also saw a wave of strikes in June, which could have impacted visitor numbers.
Facing a similar situation, Turkey’s hotel trade has been forced to cut prices, with rates in Istanbul now averaging €78 (-18.8 per cent).
Destinations in northern Europe are faring better, however, with rates up 14.5 per cent in Stockholm, Sweden (€158), 13.8 per cent in Helsinki, Finland (€140), and 10 per cent in Copenhagen, Denmark (€165).