Madrid witnesses highest drop in hotel prices this summer

Hotel room rates are witnessing a major drop in most popular European destinations this summer. This was revealed by global hotel metasearch trivago.com’s Trivago Hotel Price Index (tHPI).

Madrid saw the sharpest drop in hotel prices this month on the tHPI, with its average rate for a standard double room registering a decrease of 41% from last month to reach EUR 90 (USD 100.88) per night. Paris followed with an 18% decrease compared to June, with its average hotel price now at EUR 138 (USD 154.68) per night.

Average hotel prices in Amsterdam dropped as well, decreasing 18% this month to reach EUR 140 (USD 156.92) for a standard double room per night. Vienna and Rome reported month-on-month decrease of 14% and 13% respectively, which translate into EUR 104 (USD 116.57) for Vienna and EUR 94 (USD 105.36) for Rome for a standard double room per night.

Looking a year-on-year price comparisons, Moscow and Lisbon (left) saw the sharpest decrease in hotel prices. Travellers visiting the Russian capital paid EUR 58 (USD 65) for a standard double room for an overnight stay, a decrease of 41% compared to last year, while Lisbon reported a decrease of 16% compared to July 2018, to an average of EUR 100 (USD 112.06) per room per night.

On the contrary, the city with the largest month-on-month hotel price increase in Europe in July was Istanbul, where travellers paid EUR 73 (USD 81.82) on average for an overnight stay in a standard double room this month, a 10% increase compared to last. Reykjavik followed with a 7% increase compared to last month, which translates into EUR 156 (USD 174.86) for an overnight stay.

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