European Hotel Prices Drop
Hotel prices across Europe have dropped for the first time since the beginning of the year, and right in time for the summer travel season. This, according to trivago, a British price-comparison website that publishes a monthly Hotel Price Index (tHPI).
Al lanni, flickr
In fact, trivago says the decline may mark the beginning of price stabilization, following five months of price increases that began in January.
For June, the price of an overnight stay in a standard double room in Europe fell to about $142. This represents a drop of six percent in comparison to last month's average of $151.
Trivago says in 38 of the 50 listed in the tHPI for June, average prices fell or remained steady, including in Europe's biggest cities. Some experienced dramatic declines in prices.
"It would seem that a peak has been reached, and hotel summer prices may be close to finding stability," the website says in a press release.
London, as one key city, saw price reductions of 12 percent this month. Average overnight costs in the city fell to $189, which is more in line with London's typical pricing than what it's been during a recent period of hikes, trivago says.
Popular summer destinations saw important declines in rates in comparison to last month, as well. In Spain, Barcelona's prices fell 24% to $172 and Seville's rates sank 16% to $113. Hotel averages in Paris and Rome both dropped to $189 (from $201 and $219, respectively).
The Italian cities of Milan ($136) and Bologna ($101) are currently offering their best room rates to date for the year, trivago says.
The majority of British cities registered as stable or with falling prices, and some German cities (Munich, Cologne, Frankfurt and Dusseldorf) are also serving up their best rates.