The European hotel industry seems to be recovering from a few years of misery and prices have finally begun to rise. The surprising element is the speed at which the prices are going up – in April the average price has risen by 12%.
It was not long ago that most hotels in Europe were so desperate for overnight stays that they were forced to cut their prices to a third of what they used to be, even if it meant cutting even in the accounts. There was a growing tendency for holidaymakers and business people to travel early in the morning to their destination and come back late at night in order to avoid having to pay for a hotel. Not any more. Hotel prices have risen so sharply recently all over Europe that they are barely even recognizable from last year.
The average price for a standard double room in Europe has risen by twelve percent in April according to Trivago’s Hotel Price Index. In most European cities the prices are around 10-20% higher than in October last year. However cities such as Rome, Barcelona and Istanbul have seen prices increase by as much as 42%. According to Trivago, this is more to do with the emergence of the hot weather than the popularity of the hotels themselves.
With respect to European countries 19 of them recorded significantly higher price averages in April. The Czech Republic is seeing the greatest inflation in hotel prices, increasing 38% night. Turkey’s prices have risen 24% while Russia is experiencing price climbs of 19%.
As the global tourism industry gets back on its feet, the price increases will probably continue at similar rates.