According to a survey conducted by business travel agency Hogg Robinson Group, Moscow remains the city with the most expensive hotel rate in the world. This dubious honour is not new, as Moscow has now held this ranking for some years, a trend that the survey suggests is not about to change.
"Moscow yet again retains its place as the city with the highest average room rate for the sixth year running, despite a fall of 12 percent when measured in local currency," Natalya Shlyuyeva, Hogg Robinson spokeswoman, stressed in the report. She added that high prices in Moscow hotels actually scare away many potential guests.
The average Moscow room rate for four and five star hotels actually dropped by 3 percent to approximately $407.00, Hogg Robinson reported. Moscow hotel prices are followed by Geneva, with average room rate of around $316.36, and Hong Kong with an average of$313.98.
However, not only were Moscow hotels ranked first among the most expensive ones, but also among the emptiest. A survey conducted by global property agency Knight Frank, measuring average occupancy of the hotels, placed Moscow hotels among the most infrequently occupied. The average occupancy of Moscow hotels in the second quarter of last year was 58.5 percent. For comparison, the occupancy rates for some other cities were Paris at 75.4, London at 84.7, and Warsaw at 65.8. But the findings of the survey prove that even with such low occupancy percentage, the Moscow hotels profitability is comparable with those in Europe.
"More than half of the 75 cities we surveyed recorded room rate increases, reflecting the improving, albeit tentative, levels of business confidence," Margaret Bowler, Director of Global Hotel Relations, said in the report, adding "Particular countries and regions are emerging quicker than others from recession, but there are definite signs of increasing room rates, which go hand in hand with increasing business travel."
The biggest hotel price decrease was in Abu Dhabi, the United Arab Emirates, where hotel rates dropped 25 percent, probably due to construction of new hotels, resulting in reduced average price of approximately $272.55 per room daily. In contrast, hotel rates in Australia increased by 32 percent.
Sources: The Telegraph Hogg Robinson Group