Buyers have been urged to review their corporate travel policies as hotel room rates across the UK skyrocket.
This is the advice from HRS, following research that showed nine of the UK’s top major cities experienced double-digit increases in rates in the third quarter of 2014 compared with the same period last year.
Rates in London have increased by 17.8 per cent to an average of £133.79 per night. Rates in Liverpool reached £81.37, a rise of 19.5 per cent. And prices have risen by 18.4 per cent in Cardiff to £80.59.
The sharpest increase was seen in Leeds, where a night’s stay now costs £83.72 on average – up 27.4 per cent on 2013. This was attributed to the popularity of this year’s Tour de France in Yorkshire highlighting the area as a destination.
“While this spells good news for hoteliers, it reinforces the fact that now’s the time for those responsible for buying travel to review the effectiveness of their hotel programmes to ensure that their companies really optimise their hotel procurement and make substantial savings,” said Jon West, managing director at HRS for UK and Ireland.
The majority of European cities also saw, with rates in Madrid in Spain going up by 19.5 per cent to €92 (£72.96). But Oslo in Norway (-10.4 per cent), Moscow in Russia (-7.9 per cent) and Stockholm in Sweden (-3.2 per cent) all saw rates fall. The average ws a 2 per cent increase, compared with 17 per cent in the UK.
It was a similar picture in the top international cities worldwide. Prices in Chicago and San Fransisco in the US both rose by more than 17 per cent, and Shanghai in China and Tokyo in Japan also saw double digit increases. Of these 19 locations only Bangkok in Thailand, Kuala Lumpur in Malaysia, Seoul in South Korea and Sydney Australia saw prices drop.