The findings of the monthly trivago Hotel Price Index (tHPI) show the average price of a hotel in London will drop by 35% following the Olympics, whilst the Edinburgh Fringe Festival in August drives hotel prices in Edinburgh up 46% compared to last month.
London prices finally drop
The average price of a hotel in London will drop by 35% following the Olympics, from an average of £201 per night during the Olympic period (July 27th to August 12th) to an average of just £130 during the following week. Surprisingly, this is £20 cheaper than this time last year: the average price of a London hotel in August 2011 was £150. Prices are also down 14% compared to last month (from an average of £210 per night to an average of £181), suggesting that hotel inflation was worst in the weeks leading up to the Olympics.
Edinburgh prices rise as Festival begins
The popular Edinburgh Fringe Festival began on 3rd August and runs until August 27th. The average price of one night in Edinburgh is £177, which is 46% higher than last month, when the average was just £121.
Prices increase across the UK
Although an increase in Edinburgh hotel prices is normal for this time of year, hotel prices in every main city in the UK and Ireland have increased when compared to August 2011. This suggests that UK hotel prices in general may be creeping up. Most noteworthy destinations include Cardiff (now an average of £85 per night) and Manchester (now £87), where hotel prices are up an average of 16% and 15% respectively, compared to this time last year.
Elsewhere in the EU: Prices rise in the south, fall in the north
Stockholm, Oslo and Copenhagen are the only major cities in Europe showing significant increases compared to last month. Hotels in these destinations are now amongst the most expensive in Europe: one night in Stockholm will cost an average of £141 (up 19% from last month), one night in Oslo will cost £133 (also up 19%) and one month in Copenhagen will cost £131 (up 10%).
www.trivago.co.uk hotel price index
The www.trivago.co.uk hotel price index shows the average overnight accommodation prices for the
most popular European cities on trivago. Prices for a standard double room are calculated on the basis of one million daily price inquiries for overnight hotel stays generated through the trivago hotel price comparison service. trivago stores all hotel requests for each month and therefore gives an overview of hotel accommodation prices for the upcoming month. The tHPI reflects the hotel prices within the European online hotel market: The overnight accommodation prices of over 100 online travel agents and hotel chains create the average hotel prices for cities, regions and countries within Europe.
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