Hotel prices are falling in Western Europe?

5 star hotels are facing the highest changes

The study found that price increases in 3- and 4-star hotels in Spain, France, the United Kingdom and Portugal, and in 4- and 5-star hotels in Italy, are below the level of inflation, thus showing a decrease in real hotel prices.

As for Greece, there is a much more remarkable increase in hotel prices, up to 134% for 5-star hotels compared to pre-pandemic levels, while inflation is at 6.87%. The large increase in the price of 5-star hotels can be attributed to the proliferation of recently opened luxury hotels, which also led to an increase in the average value of accommodation in the country. 3- and 4-star Greek hotels also show an increase of 31% and 82%, respectively, compared to the 2019 level.