Wednesday, August 11, 2010

Highest Rates (and Emptiest) Hotels in the World

Moscow has obtained the highest ranking in average room rate according to European surveys by Hogg Robinson Group and Knight Frank. They determined that the average rate in Moscow hotels for the first half of the year was approximately £ 256.83. Geneva followed with second highest rank with approximately £ 199.11 and Hong Kong on its tail with an approximate £ 197.61.

Knight Frank survey results have placed Russian hotels among the emptiest. The average occupancy rate in the second quarter was 58.5% for Moscow compared to 75.4% for Paris and 84.7% for London.

Despite the low occupancy rate and scaring high prices, Moscow hotels amazingly show profitability on par with other European hotels.

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