ATHENS HOTEL RATES HAVE DROPPED BY A MASSIVE 22%

The average room rent for a standard hotel room in the beautiful Greek capital has come down when compared to the rates that were charged in the same hotels in the same month of June last year. In fact, most of the European cities, except for Paris and London, have recorded a significant reduction in their hotel room rates when compared to June 2011.

According to current Hotel Price Index (THPI), a barometer for the rent of hotel rooms, compared to the rates quoted in early summer last year, the hoteliers in Athens had recorded a strong drop in their hotel room rates this year. From an average room rent of about 115 Euros for a hotel room per night, the rent has dropped to about 90 Euros rent per night this year. This is an average of about a 22% drop. It is important to emphasize that overall average consumer prices are down this year, however the decrease is not so dramatic; as it's only a drop of 7%.

Similarly, the hotel rates in other European cities like Madrid, Lisbon, Portugal and Spain, are also down, compare to previous year. For example, an average hotel room in Lisbon charges 100 Euros per night today, which is a 7% drop from last year's number.

Madrid charges about 104 Euros per night, which is also a 5% drop from last year's level. On the other hand the hotel rates in Barcelona haven't dropped like the rates of hotels in many other European cities. In fact, travelers will be surprised to learn that they have to pay more for their visit to Barcelona this year by about 4% this year. Consequently, the average hotel rent per night in Barcelona this year is about 145 Euros.

Also the hotel rates in the British and French capitals of have experienced a notable hike in their room tariff. When compared to last year's rates, the hotels in Paris have experienced a hike of about 10% in their room rates to reach 209 Euros per night. London hotel rates are even higher; they have escalated by 10%, and thus charge about 225 Euros per night.

An average double room hotel rates in some European cities in June 2012