Capri, Geneva, NY most expensive for hotels as prices rise

Tue Sep 14, 2010 1:54am EDT
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By Belinda Goldsmith

CANBERRA (Reuters Life!) - Capri, Geneva and New York top the list for the most expensive hotel rooms, according to a global survey that showed hotel rates rising for the first time in three years as the global economy picks up.

Hotel provider's bi-annual hotel price index, released on Tuesday, found that although average hotel room rates are at low levels seen six years ago, there are hints of a recovery.

"We're seeing travel bookings pick up around the world," spokesman Victor Owens said in a statement.

Overall, prices rose about 2 percent in the second quarter of 2010 from a year ago, the first increase since the end of 2007, as business travelers and tourists started packing their bags again and heading out.

The index, now in its seventh year and based on a sample of about 91,500 properties in 15,750 locations, found second-quarter room rates rose 1 percent in Europe and the Caribbean, 3 percent in the Americas and stabilized in Asia.

Prices on the Italian island of Capri rose 7 percent, making it the most expensive destination for hotels and uprooting Monte Carlo from the top slot in 2009.

In Geneva, and Switzerland overall, average hotel room rates were up 8 percent to $254, while New York City was found to be the most expensive city for rooms in the United States, with prices up 14 percent from a year ago.

Rounding out the top 10 were Dubrovnik in Croatia, Venice, Rio de Janiero, Paris, Bali, London and Moscow.   Continued...