Hotel prices are falling in Western Europe?

By: Ipacs Tamás Date: 2022. 08. 26. 08:00

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Taking inflation into account, the prices of most European hotels are cheaper than in 2019, the VIMOSZ newsletter cited the analysis published on the Mabrian travel information platform. – The material analyzed this year’s hotel prices in the main European destination countries and also looked at local inflation rates, comparing this year’s data with 2019 statistics.

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.