Sydney, Australia is no longer the city with the world’s most expensive hotel’s, having been eclipsed by the soaring cost of accommodation in Rio de Janeiro, Brazil.
In the first three months of 2012, the average price per night for a hotel room in one of the more picturesque areas of Rio was GBP192.88, representing a 50 percent increase on equivalent prices from a year ago. According to Hotel Price Radar, hotel prices in Sydney have only risen by 4.6 percent over the same period, with rooms now averaging just under GBP145 per night.
Hotel Price Radar cited Brazil’s economic growth and infrastructure improvements for Rio’s massive price increases, compounded by preparations for the 2016 Olympics.
From a Europe only perspective, Moscow retains its lead as the city with the most expensive hotels, with rooms averaging GBP122 per night. London room rates have risen by 4.33 percent and now average GBP100 per night, again influenced by the pending Olympic Games, though surprisingly, Liverpool is the UK city that has registered the biggest price increase, with rooms now averaging GBP71.57, up 12.55 percent on last year.
At the other end of the scale, Bangkok in Thailand, Prague in the Czech Republic and Beijing in China are the cities where the cheapest accommodation can be found, all with average prices of around GBP48 per night.
For the best value in five-star accommodation, Eastern Europe is the destination of choice according to Hotels.com, with luxury hotels in Warsaw, Poland charging just GBP84 per night, followed by Budapest, Hungary at GBP105, and Tallin, Estonia at GBP112.