Want A Hotel Room? You'll Spend The Most In Moscow
The survey found that rates in the US were mostly flat or marginally back compared to 2009 figures, with the exception of San Francisco where average rates dropped by 11 percent. Although Moscow was still at the top its average rate declined by 12 percent. Room rates in Abu Dhabi were down 25 percent. Rome, Copenhagen and Dubai also showed reductions of 7 percent, 10 percent and 12 percent respectively.
Douglas McWilliams, Chief Executive of cebr (Centre for Economics and Business Research Ltd.), a leading economic think tank which analyzed the HRG survey said that the global economic recovery is still fragile and that the "latest HRG Hotel Survey illustrates the effects of a multi-speed economic recovery in the hotel market." The report indicates that it may take until 2012 for some hotels to see a return to pre-recession rates.