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October tHPI: Hotel Prices in Europe Fall, Only Madrid Shows a Rise

October tHPI: Hotel Prices in Europe Fall, Only Madrid Shows a Rise

Hotel prices have fallen in the majority of the European cities listed on the trivago Hotel Price Index (tHPI), reported monthly by global hotel metasearch www.trivago.com

The average hotel price in Berlin has fallen 23% this month to reach €96 per night, making it the city with the largest month-on-month hotel price decrease in Europe recorded on the tHPI for October. Vancouver records the most significant month-on-month hotel price decrease in October among all 50 cities listed on the tHPI, with the average price falling 29% to €132 per night for a standard double room.

With an average hotel price of €110 per night this month, which is 6% higher compared to September, Madrid is the only European city on the index registering a month-on-month price increase for a standard double room in October.

Access the tHPI for all the data here: https://businessblog.trivago.com/trivago-hotel-price-index/

Cities with Biggest Year-on-Year Decreases

This month Lima is the least expensive it has been all year with an average hotel price per night of €45 for a standard double room, which is 12% lower than it was in October 2017. Another city that has reached a year-to-date low in its average hotel price this month is Moscow at €55 per night for a standard double room – a 18% drop compared to this time last year. Also with an average price per night of €55, Mumbai sees the biggest year-on-year fall in hotel prices on the index this month: the average is down 30% compared to last year.

The only European city on the tHPI with an average year-on-year hotel price decrease greater than 20% this month is Lisbon, where the average hotel price per night is €104 (down 21% compared to last October).

Cities with Highest Monthly Increases

Dubai has the highest month-on-month increase in hotel prices in October, with the average rising 30% to €172 per night. The average October price for a standard double room in Marrakesh shows both a year-on-year and month-on-month increase of 19%.

Hotel prices in Hong Kong have risen 15% compared to last month with the average hotel price climbing to €141 per night. Miami and Chicago complete the list of the five cities with the highest month-on-month hotel price increases in October, with average prices rising 11% and 10% respectively.

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NEIL STEEDMAN has been a trade journalist, copywriter, editor and proofreader for 52 years, and News & Features Editor for ‘Irish Travel Trade News’ for the past 42 years.

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