HRG: Hotel rate growth stalls during first half of 2012
August 14, 2012 | Hotel Marketing
Moscow remains the world's most expensive city for business travelers in terms of hotel stays, even as European hotel rates generally are stabilizing amid the region's sovereign debt crisis, according to an HRG report covering the first six months of 2012.
Rates in several key North American and Latin American cities, meanwhile, have spiked significantly.
Moscow rates were up 3 percent year over year in local currency, placing its hotel costs well above those of Lagos, Nigeria, which ranked as second-most expensive. Geneva, Zurich, Rio de Janeiro, New York, Sydney, Hong Kong, Paris and Washington, D.C. rounded out the top ten.
The survey, which measured hotel rates from January through June based on industry data and actual rates paid by HRG clients, showed first-half rates on a global basis had not increased as much year-over-year in 2012 as they had in 2011.
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