Hotel demand leaves buyers short of room to strike deals_2
19 July 2012
Travel buyers are finding it increasingly difficult to get best-value hotel deals in Europe with demand for rooms outstripping growth in hotel space, according to a market investigation by American Express.
European hotel room stock is increasing by 2 per cent a year, but demand for rooms is set to rise 15 per cent over the next three years, says its report.
Room rates have increased by 10 per cent over the past year, according to the survey. Business travel managers also have to contend with sophisticated room pricing, where hotels are able to forecast the number...