14 February 2002 | David Arminas
Prices at European hotels fell by up to 3.7 per cent at the end of last year, according to the latest figures, although in some countries they continued to rise.
In the fourth quarter, the average room rates in Amsterdam were £108, in Madrid £66 and in London £122.
In France, Italy and the Netherlands prices fell by 3.7 per cent. In the UK, Germany and Spain rises were 1 per cent or less, according to the latest American Express European corporate travel index.
But rates increased by up to 12 per cent on the past year.
Loraine O'Keefe, manager of consulting services group at Amex, said price increases levelled off because hotels wanted to attract the business during the downturn after 11 September.
But she added: "In 2002 we won't see further falls in the published rates, although there are likely to be savings through more promotions, such as two for one".
A recent Barclaycard business travel survey found two-thirds of business travellers and 51 per cent of chief executives have stayed in budget hotels.
• For more information on the Amex corporate travel index, call 020 7976 4677. Company Barclaycard can be contacted on 0845 605 0845