Decline in Kyiv hotel prices in January 2011 sharpest in the world – HotelsCombined research
Kyiv topped the rating of the world's cities seeing the sharpest decline in prices of hotel accommodation in January 2011, according to Australia's HotelsCombined, which releases a regular review of global hotel prices.
"The sharpest hotel price decrease from December 2010 can be found in Kyiv, Ukraine," reads the review. "The low average room rate is the product of seasonal price fluctuations; but those not deterred by the weather will find amazing deals in a city known for both its rich history and modern culture. Kyiv average nightly rates are down 23.02% from $124.74 to $96.03."
In terms of the decline in hotel prices, Kyiv was ahead of Moscow and New York where prices fell by 19.8% and 17.9% respectively, which ranked them fourth and fifth. The average room price in Moscow was $121.51 and in New York $179.2.
The top three sharpest hotel price decreases along with Kyiv included Genting Highlands (Malaysia), where the average room price fell by 20.9% to $77.2 and Bandung (Indonesia) where a night at a hotel fell in price by 20.6% to $67.
HotelsCombined also drew up a rating of the cities whose hotels posted the steepest hotel price rise. It was topped by Frankfurt am Main, Germany, which is up 52.75% thanks to the numerous trade shows taking place in the January. Frankfurt am Main was hit quite hard by the global financial crisis in 2010 but looks be rebounding in 2011 with average nightly rates up from $91.33 to $139.54.
It was followed by another German city – Hannover with the average room price being $119.4, which was 32.8% up on December 2010. The last of the top three steepest hotel price rises is Fort Lauderdale (the United States) seeing a 30.8% rise to $139.4 due to an art festival Las Olas, which attracts over 100,000 art lovers.
HotelsCombined provides a monthly survey of hotel prices in major city destinations across the world, analyzing 2,500,000 hotel deals in 50,000 destinations across 200 countries.