Moscow Hotels Are Most Expensive

Moscow retained its status of having the world’s most expensive hotels for the sixth year running, ahead of New York, Geneva, Paris and Zurich, according to a survey of hotel rates for 2010 by UK-based Hogg Robinson Group.

However, the Russian capital’s room prices fell by 12% in local currency to $452 year on year.

European hotel rates fell for the second consecutive year with Athens and Dublin registering year-on-year decreases of 9% and 11%, respectively.

Hotel prices in the UK bucked the downward trend and returned to growth with London room rates increasing by 3% in 2010 to £156.91 ($252.90).

In Africa and Asia Pacific, average hotel prices rose to above pre-recession levels and many of the strongest rates of growth are to be seen in emerging markets, the survey said.