Global rise in Hotel room rates

HRG UK’s 2007 half year hotel survey has revealed continued growth and a strong average rate performance for the hotel industry worldwide. Moscow once again achieved the highest average room rates, alongside significant growth in the rapidly developing markets of Dubai and Mumbai.

Key findings include:

• Moscow remains the most expensive city with average room rates of £236.06 compared with £220.57 in 2006


• Mumbai again showed rapid growth, with an increase of 30% over the last six months following an uplift of 49% in average rates achieved for the full year 2006


• Of the key European cities, Barcelona grew by 18%, rates in Berlin were up by 17% and Stockholm increased by 10% between January and June 2007


• London continued to perform well with 5% rate growth in the first 6 months of 2007, compared to average rate growth of 7% in 2006


• Of all the regions worldwide, only Africa noted a decline in average room rates