WORLD - Hotel rates fell by more then 10 cent per around the world last year, as demand dropped in the economic downturn.
An annual hotel survey conducted by international corporate travel services company, Hogg Robinson Group, found that only a few cities avoided having their average hotel room rates fall by more than a tenth.
Although average rates in both London and Moscow fell five per cent, Moscow retained its position as most expensive hotel destination for the fifth year running, with an average rate of £267.
London fell from 16th to 29th on the list, with rates dropping to £151 from £160.
Director of global hotel relations for HRG, Margaret Bowler, said the patterns in this hotel survey would suggest that the industry “has some way to go before rates stabilise in 2010”.
