Where can you find (or avoid) the world’s most expensive hotels?
Surprisingly, lovely downtown Lagos, Nigeria has the world’s 2nd-most expensive hotel rooms. On average, they’ll cost you an average of $342.03/night (CDN), or 54,155 Nigerian nairas, the local currency.
Lagos is followed closely by Geneva ($340.25/night), Zurich ($332.64/night), and Rio de Janeiro at $322.49/night.
And the city with the Most Expensive Hotels on the planet? Read on!
The world’s most expensive place to book a room is …
[not to be confused with the town of Moscow, Idaho where hotel rooms are probably pretty cheap]
On average, Moscow’s hotel rooms will cost you an incredible $406.74/night or 12,415 Russian rubles! Steep, huh?
Apparently in Moscow, hotel room rents YOU.
This marks the 8th year in a row that Moscow tops the list of Most Expensive Cities to Watch TV by Yourself and Feel Like a Loser in a Foreign Land.
All these stats and rankings are from Hogg Robinson Group (HRG), a UK-based international corporate services firm. In their biannual survey, they study “hotel room rates for key business destinations” around the world.
So what makes Moscow so brutally expensive to visit? According to BBC News, Moscow is so expensive because of its “oil wealth, high inflation rate and shortage of mid-range hotel rooms.”
In HRG’s analysis, they further noted the following trends:
-Nigeria’s oil industry means there’s a “high volume of inbound business travel” to Lagos. And since it’s one of the most dangerous places to visit on Earth, travellers tend to stay in luxury five-star accommodations that offer armed security guards. Good times!
-The financial crisis has smacked down room rates all over Europe. This caused rate decreases in key European cities like Barcelona where rates fell by 22% in local currency.
-Hotel rates in India were driven down by the country’s economic slowdown and lack of capital for new investments.”
-and the region with the strongest growth in hotel rates was in Latin America.
Margaret Bowler, Director of Global Hotel Relations for HRG, says, “Just as we saw in 2011, the shift in hotel rate growth from Europe to Asia and Latin America is continuing to gather pace. As Europe feels the effects of the sovereign debt crisis, business travellers are prioritising travel to areas of continued growth, and consider higher hotel costs an acceptable expense.”
Oh, and she said that in a press release, by the way. I doubt she speaks so eloquently after downing a couple of pricy Flaming Sambucas in Moscow’s Ritz-Carlton hotel bar on a Friday night.
But I digress. More stats for you:
Top 5 Cities with the Highest Rate Increases
#1) Mexico City (20% more expensive than last year)
#2) San Francisco (+11%)
#3) Liverpool (+8%)
#4) Dubai (+10%)
#5) Houston (+10%)
Top 5 Cities with the Highest Rate Decreases
#1) Bangalore (-30% since last year)
#2) Barcelona (-26%)
#3) Munich (-20%)
#4) Mumbai (-18%)
#5) Istanbul (-16%)
To see the full list of Top 50 Cities with the most expensive hotel rooms, download the full report here.
No Canadian cities cracked the list (yay). However, five American cities were on the list: New York City (#6), Washington (#10), San Francisco (#12), Houston (#42), and Philadelphia (#46).
— Ken Hegan
Read all of Ken’s travel stories here
Thanks to Sam D
Images courtesy The Ritz-Carlton, Moscow