European Hotel Prices Drop to Three-Year Low - trivago reports
Hotel prices in France, Italy, Poland, Portugal, Turkey and Cyprus have dropped to the lowest average price per night since January 2011, according to the February trivago Hotel Price Index (tHPI) reported monthly by hotel comparison website trivago.co.uk. Based on the 23 most popular European countries on trivago, hotel prices have decreased by an average of 7 per cent year-on-year. One night this month will cost an average of £82, compared to £88 during February 2013.
one night cost an average of £106. One night in Poland this month will cost just £46 on average.
Also showing large percentage decreases are Cyprus (down 52 per cent from £128 per night during August 2011) and Turkey (down 51 per cent from £143 during May 2013). One night in Cyprus will cost an average of £61 this month and one night in Turkey £70.
When looking at individual cities, Rome, Vienna and Istanbul are displaying the cheapest hotel prices since January 2011. One night during February will cost on average of just £79 in Rome (compared to £158 during May 2011), £83 in Vienna (compared to £125 in May 2011) and £71 in Istanbul (compared to £159 in May 2013).
Hotel Prices Down 7% Year-on-Year
Compared to this time last year, European hotel prices have decreased by anaverage of 7 per cent to £82 per night. The most notable countries are Norway (down 15 per cent to an average of £123 per night), Bulgaria (also down 15 per cent to £46 per night), France (down 12 per cent to £100) and Sweden (also down 12 per cent to £130). Individual cities with the largest Y-O-Y percentages decreases are Oslo (down 14 per cent to £125), Sofia (down 13 per cent to £47) and Munich (down 11 per cent to £98).
Denise Bartlett, UK Public Relations, says: "Although it is normal to seehuge price differences between summer and winter, particularly during January and February, it is unusual to see a year-on-year drop in hotel prices of more than a few per cent. This suggests a general trend of decreasing hotel prices, and it will be interesting to see how hotel prices this summer compare to the summer of 2013. It is also surprising to note that the highest hotel prices over the past three years occurred primarily during the month of May, followed by June and August – with little appearance of July. With the debate on prices during school holidays compared to prices during term time continuing, it is clear that hotel prices are at their highest during the May half term and August summer holiday."
The www.trivago.co.uk hotel price index shows the average overnightaccommodation prices for the most popular cities worldwide on trivago. Prices for a standard double room are calculated on the basis of over 2 million daily price inquiries for overnight hotel stays generated through the price comparison service. trivago stores all hotel enquiries for each month and therefore gives an overview of hotel accommodation prices for the upcoming month. The trivago Hotel Price Index (tHPI) is a reliable indicator of current average prices within the online hotel market: the overnight accommodation prices of 200 online travel agents and hotel chains create the average hotel prices.
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