Hotel Room Rate Growth Remains Strong

19th February 2008 (Last Updated February 19th, 2008 08:48)

Hotel room rates continued to rise in 2007 despite tough economic conditions towards the end of the year, international corporate service company Hogg Robinson Group (HRG) says. In its 2007 hotels survey, HRG found Moscow remained the world's most expensive destination for the third con

Hotel room rates continued to rise in 2007 despite tough economic conditions towards the end of the year, international corporate service company Hogg Robinson Group (HRG) says.

In its 2007 hotels survey, HRG found Moscow remained the world’s most expensive destination for the third consecutive year – recording a 93 percent increase in room rates since 2004.

Mumbai recorded the highest rates increase in 2007 at 37 percent.

HRG says the UK market was a consistent performer, with most cities showing steady growth, but the US reported mixed results, in part due to weak dollar exchange rates and economic concerns.

By staff writer