Global hotel room prices increase as travel restrictions ease
Research by UK travel agent Butter reveals that global hotel prices are on the rise as demand surges after most travel restrictions are eased
Through increased vaccination and a reduction in infections, governments around the world are keen to get their economies back up and running with tourism playing a central role. As such, many nations have eased most of their rules.
Consumers have been more than happy to embrace these new freedoms and demand for hotel rooms across some of the most popular holiday destinations is now 184 per cent higher than it was a year ago. As a result, prices are also up 16 per cent on the year with the average hotel room now costing £127 per night.
New York and Madrid popular destinations
Nowhere have prices increased more than in New York, US, where they’ve risen by 28 per cent to an average price of £220 per night. This is a consequence of demand for hotel rooms in The Big Apple increasing by 361 per cent.
A 409-per-cent surge in demand for hotel rooms in Madrid, Spain, has forced prices to rise by 24 per cent to an average of £123 per night, while prices in London have increased by 23 per cent to £154 per night in reaction to a 220-per-cent surge in demand.
Timothy Davis, Co-Founder and CEO of Butter, commented: “It’s clear that those places where prices have increased the most have also eased most, if not all of their travel restrictions both in and out of the country. America, the UK, Spain, and Portugal have all told the world they’re open for business.”