The average price being charged for an overnight stay in a hotel in one of Europe's top 20 cities has risen in September compared to August, the trivago Hotel Price Index has shown. According to the organisation, some rates have increased by as much as 67 per cent during this time. Brussels recorded this high, while Barcelona and Rome also saw prices go up by 48 per cent and 44 per cent respectively. Venice and Berlin were not far behind, each with a 43 per cent month-on-month jump.
When compared to September 2010, the majority of markets registered upwards price movement, with the exception of Krakow, which showed no change, and Vienna, where a 20 per cent drop in rates was noted. The broadly positive performance of hotels across the continent could prove to be good news for investors aiming to generate returns from the hospitality industry.
At the end of August, figures published by STR Global revealed that the European hotel market had experienced strong growth during July, compared to a year earlier, with major markets such as Germany, Spain, the UK, Russia and Italy seeing the revenue per available room and the average daily rate climb.