Mumbai Fastest Growing Hotel Market

23rd August 2007 (Last Updated August 23rd, 2007 10:21)

Mumbai is one of the fastest growing hotel markets in the world, according to a business travel firm Hogg Robinson Group (HRG) HRG says hotel rates in the city have increased 30% over the last six months, with rooms now averaging £147.55 a night. However, elsewhere in India, B

Mumbai is one of the fastest growing hotel markets in the world, according to a business travel firm Hogg Robinson Group (HRG)

HRG says hotel rates in the city have increased 30% over the last six months, with rooms now averaging £147.55 a night.

However, elsewhere in India, Bangalore saw a decrease in room rates of 7%, due to slowdown in its economic growth.

Moscow remained the most expensive city with room rates now averaging £236.06 a night, up from £220.57 in 2006.

Across Europe, Barcelona saw the most growth, with an increase of 18%, followed by Berlin (17%) and Aberdeen (12%).

Worldwide, Africa was the only region to experience a decline in average room rates.